News Detail

Treating Customers Fairly - Insurance Times
12 Jun, 2018

We are all governed and must abide by the High-Level Standards set out as Commandments by the FCA. In those 6 High Level Standards, the first one is Principles. Principles is then sub-divided in to 11 sub-sets. I’d like to discuss the 2 Principles, which in my mind stand out as the acid test of the Culture of a business organisation in the 21st century of financial services.

The 2 Principles are Integrity and putting Customer Interests first – i.e. Treating Customers Fairly.

The global financial crisis highlighted the need for a firms Culture to be putting the Customer firmly at the centre of its business. A sound business culture will ensure that everything a firm does is for the benefit of its Customer and there is no conflict between a firm’s business practices and the best interests of the Customer.

If the firm’s Culture is to put the Customer firmly at the centre of its business, as all firm’s are now hopefully keen to ensure are there any aspects of the business which do not align with this Culture.

Historically where firms have failed to put the Customer first the FCA has stepped in. Whether this is selling of payment protection policies, or the charging of disgustingly high interest rates, the FCA has firmly put a stop to unfair practices. In each case the financial services firms promoting such products tried to justify them on commercial grounds. There is no art to this however. It’s simple, what is unfair is quite simply unfair.

In my view many but not all insurance brokers are putting profit first and not the Customer in their sale of premium finance to the Customer. Like all such historic unfair practices the FCA will soon stop this with clarification of existing rules and if necessary fines.


British Insurance Awards 2016 – London
27 May, 2016

Bexhill UK has been shortlisted for ‘Service Provider of the Year’ at the British Insurance Awards 2016. Wish us luck!

15 Jul, 2015

Bexhill UK obtains full FCA authorisation. Regulatory News

Insurance Times Awards 2013 – London.
03 Dec, 2013

Bexhill UK was shortlisted as a finalist for the Insurance Times Awards 2013 in the category ‘Business Partner of the Year’. It was a great evening and the organisers made sure that everything went smoothly. The competition in our category was tough and, unfortunately , we did not manage to come back to the office with a prize. Maybe next year. To sum up, it was a great evening and we were extremely proud to be finalists for such a prestigious award. We felt that being shortlisted amongst some of the biggest names in the Insurance Industry was already a huge accomplishment!

BIBA 2013 – London
16 May, 2013

Our time at this year’s BIBA exhibition was once again a success. Thank you to everyone who visited us at our stand - we hope you are all looking after your little white owls!! It was lovely to see quite a few of our existing clients and also great to speak with many potential clients!