Step 02 / Explore the pack

See the outcomes. Know what to ask.

A visual view of what is inside the Insurance and mortgage intermediaries edition, before you open Excel or Word. Choose a tab to explore the illustrative worked example.

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Insurance and mortgage intermediaries

Consumer Duty board report pack · illustrative example firm: Wrenfield Cove Intermediaries Limited

Change firm type
03
Areas rated Red

After the board's judgement

03
Areas rated Amber

Of six areas

35 of 35
Measures rated

Every measure has a result

6
Actions in the log

5 agreed by the board

consumer-duty-board-report-insurance-mortgage-mi-workbook-worked-example.xlsxIllustrative data

Board position

3 of 6 areas Red

  • Products and services

    PRIN 2A.3 · 5 measures

    Red

    3 Green · 2 Amber · 0 Red · Board judgement: Red (calculated Amber)

    Two add-on products had no review for customers with characteristics of vulnerability, so the board has rated the area Red until the reviews are finished.

  • Price and value

    PRIN 2A.4 · 7 measures

    Red

    6 Green · 0 Amber · 1 Red

    Two insurance products have value reviews out of date.

  • Consumer understanding

    PRIN 2A.5 · 6 measures

    Amber

    5 Green · 1 Amber · 0 Red

    Not Green: Customers who understood the key points.

  • Consumer support

    PRIN 2A.6 · 8 measures

    Amber

    6 Green · 2 Amber · 0 Red

    Not Green: Complaints upheld; Average days to handle a cancellation or mortgage product switch.

  • Cross-cutting rules

    PRIN 2A.2 · 5 measures

    Red

    4 Green · 0 Amber · 1 Red

    Redress took too long once harm was found.

  • Governance and monitoring

    PRIN 2A.8 and 2A.9 · 4 measures

    Amber

    3 Green · 1 Amber · 0 Red

    Not Green: Duty outcome reviews by risk or internal audit completed against plan.

See the actual workbook · real Excel sheets, rendered from the example file
Insurance and mortgage intermediaries: Ratings dashboard for the four outcomes, the cross-cutting rules and governance (illustrative example)Outcomes dashboard · opens full sizeInsurance and mortgage intermediaries: MI library with thresholds, results and ratings (illustrative example)MI library · opens full sizeInsurance and mortgage intermediaries: Board challenge questions with answers recorded (illustrative example)Board challenge · opens full sizeInsurance and mortgage intermediaries: Action log with owners, dates and board agreement (illustrative example)Action log · opens full size

Built from the same data and formulas as the worked-example workbook, for an invented firm. All figures and thresholds are illustrative, not benchmarks.

About the Insurance and mortgage intermediaries edition

Insurance and mortgage intermediaries, including protection advisers. PRIN 2A.4 does not apply to "a firm which manufactures or distributes a non-investment insurance product or a legacy non-investment insurance product" (PRIN 2A.4.32R(1)(a)), and PROD 4 applies instead. Mortgage distribution is otherwise within PRIN 2A.3 and 2A.4. If you do both, check whether PRIN 2A.4 still applies to your mortgage business. The cross-cutting, understanding and support outcomes apply to both.

The FCA does not set a template for the board report. This pack is a practical structure built on the rules in PRIN 2A.8 and 2A.9. Read the Consumer Duty outcomes monitoring guide and the board pack explainer, or try the Consumer Duty outcomes checker.