10/12/2018
Insurance - Conduct Standards Conduct Standards
Application provision
1.1 Unless otherwise stated, this Part applies to:
- (1) a UK Solvency II firm;
- (2) in accordance with Insurance General Application 3, the Society, as modified by 4;
- (3) in accordance with Insurance General Application 3, managing agents, as modified by 4;
- (4) a third country branch undertaking (other than a Swiss general insurer);
- (5) a UK ISPV; and
- (6) in relation to any of the foregoing firms, any person who is a Conduct Rules non-executive director or who is approved under section 59 of FSMA by either:
- (a) the PRA; or
- (b) the FCA, in relation to a relevant senior management function.
3.1
07/03/2016
Individual Conduct Standard 1: You must act with integrity.
3.2
07/03/2016
Individual Conduct Standard 2: You must act with due skill, care and diligence.
3.3
07/03/2016
Senior Insurance Manager Conduct Standard 1: You must take reasonable steps to ensure that the business of the firm for which you are responsible is controlled effectively.
Senior Insurance Manager Conduct Standard 2: You must take reasonable steps to ensure that the business of the firm for which you are responsible complies with the relevant requirements and standards of the regulatory system.
Senior Insurance Manager Conduct Standard 3: You must take reasonable steps to ensure that any delegation of your responsibilities is to an appropriate person and that you oversee the discharge of the delegated responsibility effectively.
Senior Insurance Manager Conduct Standard 5: When exercising your responsibilities, you must pay due regard to the interests of current and potential future policyholders in ensuring the provision by the firm of an appropriate degree of protection for their insured benefits.