Intro
The FCA has introduced new requirements in relation to Product Governance, General Insurance Pricing Practices, and delivering Fair Value to customers. These requirements involve product Manufacturers and Distributors considering the fair value that their products and services represent to end customers.
As both a ‘Wholesale Distributor’ and in some instances, a ‘Co-Manufacturer’, we have created this online resource webpage to provide ‘Distributors’ with necessary information including Fair Value Assessments, Target Market Statements and further literature from ultimate Insurers about the products we offer and arrange.
Brokers Distribution Information
To assist us, and ultimate insurer ‘Manufacturers’, in complying with the new requirements, we have chosen to operate to the standard industry agreed template, for the collection of remuneration, fee and service information from ‘Distributors’. Completion of this industry-agreed template by your firm will assist in ensuring we both continue to act in customers’ best interests and confirm that the products they receive continue to deliver fair value. You can access our excel spreadsheet template below and submit completed forms to pog@doainsurance.co.uk.
DOA Co-Manufacturer Fair Value Assessments
Please find below Fair Value Assessments (FVA) where DOA are deemed a ‘Co-Manufacture’. These are for a number of our Commercial products:
- Product Assessment & Fair Value Review – Commercial Combined (Accelerant) Mar 2024
- Product Assessment & Fair Value Review – Commercial Combined (China T) Mar 2024
- Product Assessment & Fair Value Review – Commercial Property Owners (Accelerant) Nov 2023
- Product Assessment & Fair Value Review – Commercial Property Owners (China T) Nov 2023
- Product Assessment & Fair Value Review – Dry Cleaners (Accelerant) Mar 2024
- Product Assessment & Fair Value Review – Dry Cleaners (China T) Mar 2024
- Product Assessment & Fair Value Review – Excess Liabilities (Chaucer) Mar 2024
- Product Assessment & Fair Value Review – Hotels & Guesthouses (Accelerant) Mar 2024
- Product Assessment & Fair Value Review – Hotels & Guesthouses (China T) Mar 2024
- Product Assessment & Fair Value Review – Leisure (Accelerant) Mar 2024
- Product Assessment & Fair Value Review – Liability (Accelerant) Mar 2024
- Product Assessment & Fair Value Review – Liability (Chaucer) Mar 2024
- Product Assessment & Fair Value Review – Pristine Dry Cleaners (Accelerant) Mar 2024
- Product Assessment & Fair Value Review – Pristine Dry Cleaners (China T) Mar 2024
- Product Assessment & Fair Value Review – Pubs Restaurants & Take-aways (Accelerant) Mar 2024
- Product Assessment & Fair Value Review – Pubs Restaurants & Take-aways (China T) Mar 2024
- Product Assessment & Fair Value Review – Retail Package (Accelerant) Mar 2024
- Product Assessment & Fair Value Review – Retail Package (China T) Mar 2024
SunWorld Travel FVA Information
Please find below the current SunWorld Travel FVA product information request document completed by the ultimate Insurer, Inter Partner Assistance SA UK Branch (part of the AXA Group). We are not a ‘Co-Manufacturer’ here, only a ‘Wholesale Distributor’:
- Product Information Request – IPA AXA – 1. SunWorld_B2B_B2C – TMS
- Product Information Request – IPA AXA – 1. SunWorld Backpacker – TMS
Furthermore, please also find below the current SunWorld Extra Travel FVA & TMS product information request documents completed by the ultimate Insurers, Freedom Insurance and P J Hayman as below. Note, we are not a ‘Co-Manufacturer’ here, only a ‘Wholesale Distributor:
- POG Information Request – OKTT SunWorld Extra (Policies sold prior to 01/08/2023)
- P J Hayman – DOA Free Spirit SunWorld Extra – Aug 23 (Policies sold post 01/08/2023)
Further Product Information where DOA is a Wholesale Distributor
Please find below Fair Value Assessments, Target Market Statements and further Product Governance information concerning other Commercial and Financial Professions products where DOA are deemed a ‘Wholesale Distributor’ only:
- Product Information – Allied World – Excess of Loss (AGG) PI
- Product Information – Allied World – Excess of Loss (AOC) PI
- Product Information – AXA – Complex Professional Indemnity TMS
- Product Information – AXA – Contractors Liability Product TMS
- Product Information – AXA – General Liability Product TMS
- Product Information – AXA – Management Liability Product TMS
- Product Information – AXA – Property Owners Liability Product TMS
- Product Information – AXA XL – Employers Liability FVA
- Product Information – AXA XL – Employers Liability TMS
- Product Information – AXA XL – General Liability FVA
- Product Information – AXA XL – General Liability TMS
- Product Information – AXIS – Public & Products Liability and Employers Liability
- Product Information – Beazley – PI Healthcare Combined
- Product Information – Beazley – PI Media Combined
- Product Information – Beazley – PI Combined
- Product Information – Beazley – Med Mal Combined
- Product Information – Beazley – Media
- Product Information – Boleyn – FVA & TMS Contractors & Liability
- Product Information – CNA Hardy – MCAB0918 Cargo Insurance
- Product Information – CNA Hardy – PIAO0120 Misc Professions (Negligence) Insurance
- Product Information – Collegiate – PI
- Product Information – Collegiate – D&C
- Product Information – DAS – Commercial Legal Expenses
- Product Information – Hiscox – Asbestos Distributors Information
- Product Information – Hiscox – Pricing Practices Factsheet
- Product Information – Hiscox – Product Lifecycle Factsheet
- Product Information – Hiscox – TMS’ All
- Product Information – Hiscox – FVA’s All
- Product Information – Incepta – Commercial
- Product Information – Liberty Mutual – PI
- Product Information – Manchester Underwriting – PI FVA
- Product Information – Medical Professional – Med Pro Liab FVA
- Product Information – Nexus – PI
- Product Information – Nexus – Directors and Officers Liability
- Product Information – Nexus – Management Liability
- Product Information – One Commercial Specialty – PI
- Product Information – Ortus Underwriting – Individual PA
- Product Information – Ortus Underwriting – Individual PA & Illness
- Product Information – Ortus Underwriting – Group PA & Illness
- Product Information – Ortus Underwriting – Group PA
- Product Information – Ortus Underwriting – Group Business Travel
- Product Information – OSR – Cyber Now
- Product Information – OSR – Cyber Plus
- Product Information – OSR – Cyber Sole Trader
- Product Information – Prosure – PI
- Product Information – RSA – Goods in Transit
- Product Information – RSA – Haulage
- Product Information – RSA – JCT
- Product Information – WRB – Construction FVA
- Product Information – XS Assure – PI XoL FVA
Compliance
DOA have a dedicated internal Product Oversight & Governance Committee who also work with all our Insurer partners to ensure compliance with the updated requirements.
In addition, we have robust Product Governance & Oversight Monitoring policies and procedures and collect in-depth relevant Management Information concerning products offered to help with our Fair Value Assessment duties.
If you have any questions, please contact pog@doainsurance.co.uk.