Functions

We safeguard the interests of policyholders and prospective policyholders — ensuring they are treated fairly, handling unresolved complaints, and stepping in when companies fall short of their obligations.

We monitor the financial soundness of insurers and reinsurers — their solvency, reserving and risk — so they can meet their commitments and the wider market remains stable.

We authorise insurers, reinsurers and intermediaries to operate, and supervise their conduct and compliance on an ongoing basis.

We set and enforce standards of good market practice — promoting professionalism, transparency and fair dealing throughout the industry.

We work to widen access to suitable, affordable insurance and to improve public understanding of insurance and the rights of consumers.