Consumer Duty sets higher and clearer standards of consumer protection across financial services and requires firms to put their customers’ needs first.

Full details including rules and guidance can be found on the FCA website Consumer Duty | FCA (https://www.fca.org.uk/firms/consumer-duty). At Premium Credit, we have a dedicated project team responsible for implementing Consumer Duty across the company, ensuring its embedded in every aspect of our business. This includes ensuring we provide our partners with the support they need to embed the guidance set out by the FCA.

Within the sales journey, Consumer Duty defines Premium Credit’s role as the manufacturer of the premium finance product and you, the partner, as the distributor of that product. We both have a role to play and need to continue to work together to fully meet the Consumer Duty guidance, which came into force in July 2023.