We operate Product Oversight and Governance Procedures to manage our products throughout their life cycle to ensure we meet legal and FCA regulatory requirements and our obligations to our customers. The process is overseen by the Underwriting and Markets Director with input from underwriting, pricing, compliance and distribution staff.
Home & Legacy manufactures the products described on our website and within our policy documents and IPIDS.
The process is designed to ensure our products:
- offer fair value to customers for the forseeable future
- are monitored to ensure they provide the expected outcomes and cover
- have appropriate remedial action taken, if poor value for out customers is identified.
See a summary of our Product Oversight and Governance Arrangements.
Target market and product value details
Our Target Market Statements explain:
- who our products are suitable/not suitable for
- our products' features and characteristics
- our distribution strategy
- the process for product assessment to ensure fair value is continuously offered.
See ourTarget Market Statements.
Premium Finance
We have arrangements with a premium finance provider for the benefit of our customers. We review these arrangements to ensure they remain appropriate and continuously offer fair value.
See ourPremium Finance Information.
Remuneration and pricing
Our remuneration reflects the services we deliver. Operational expenses and profit margin are considered carefully to ensure our products' value is not adversely affected.
We do not charge any administrative fees.
Our staff act in customers' best interests and are not incentivised.
The remuneration that we pay to brokers/distributors is commensurate with the service they provide to customers.
Renewal prices for customers are the same or lower than the price available for a new customer with the same risk information and cover.
Information we require from brokers/distibutors
We request information from brokers/distibutors periodically as part of our assessment of the value of our products and how they are distributed to our customers. This includes details for:
- additional products or services sold (including premium finance)
- fees charged
- distribution/sales methods.
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Home & Legacy Insurance Services Ltd is a wholly owned subsidiary of Allianz Holdings plc and is registered in England number 3007252. Registered office: 57 Ladymead, Guildford, Surrey GU1 1DB. Home & Legacy Insurance Services Limited is authorised and regulated by the Financial Conduct Authority. Financial Services Register number is 307523. Please note that telephone calls may be recorded for training and/or monitoring purposes.