Product Oversight & Governance
Q Underwriting’s Product Oversight & Governance
Under the FCA’s Product Oversight and Governance (“PROD”) rules, Q Underwriting (‘Q’) is a distributor for the products that we provide, and we take our regulatory responsibilities for product oversight and governance very seriously. For a small number of products that we distribute we also have co-manufacturing responsibilities with our insurer partners.
Working collaboratively with our insurer partners Q operates a robust framework that provides an effective review and oversight process of our products, this includes new product development, product changes and fair value assessments.
This page includes information on our Product Oversight and Governance arrangements.
Frequently Asked Questions (FAQs)
Who is the Product Manufacturer?
| Product | Insurer | Our Role | Target Market Statement Available? |
| Courier | AXA | Distributor | Due mid Sept 22 |
| Legal Expenses | ARC | Distributor | Pending Approval |
| Executive Single | Aviva | Distributor | Pending Approval |
| Taxi Single | Aviva | Distributor | Pending Approval |
| Day Driver | Aviva | Distributor | Pending Approval |
| Motor Trade (Road Risks) | Aviva | Distributor | Pending Approval |
| London Black Cab | Aviva | Distributor | Pending Approval |
| Truck Mini Fleet | Aviva | Distributor | Pending Approval |
| Taxi Liability | Aviva | Distributor | Pending Approval |
| Taxi Fleet | Aviva | Distributor | Pending Approval |
| RAC Breakdown | RAC | Distributor | Yes |
| Property Owners | AXA | Distributor | Due mid Sept 22 |
| Let Residential | AXA | Distributor | Due mid Sept 22 |
| Blocks of Flats | AXA | Distributor | Due mid Sept 22 |
| Shop | AXA | Distributor | Due mid Sept 22 |
| Office | AXA | Distributor | Due mid Sept 22 |
| Motor Trade | Allianz | Distributor | Pending Approval |
| Legal Expenses | ARC | Distributor | Pending Approval |
| Property Owners | ERGO | Distributor | Pending Approval |
| Commercial Combined | AXA | Distributor | Due mid Sept 22 |
| Management Liability | AXA | Distributor | Due mid Sept 22 |
| Clubguard | AXA | Distributor | Due mid Sept 22 |
| Liability | Axis | Distributor | Pending Approval |
| Combined | Travelers | Co Manufacturer | Pending Approval |
| Property (Pre Q Schemes) | Travelers | Co Manufacturer | Pending Approval |
| Engineering/PA | Aviva | To Be Confirmed | Pending Approval |
| PA (Clubguard) | Aviva | To Be Confirmed | Pending Approval |
| Recruitment Combined | Aviva | Distributor | Pending Approval |
| Recruitment Combined | Travelers | Co Manufacturer | Pending Approval |
| Charity Combined | Aviva | Co Manufacturer | Pending Approval |
| Charity Combined | BRIT (Run Off) | Distributor | Pending Approval |
| Faith Combined | Aviva | Co Manufacturer | Pending Approval |
| Executive Risks | BRIT | Distributor | Pending Approval |
| Executive Risks | Lorega | Distributor | Pending Approval |
| Executive Risks | MS Amlin | Distributor | Pending Approval |
| Legal Expenses | Markel | Distributor | Pending Approval |
| Excess Liability Combined | Zurich | Distributor | Pending Approval |
| Contractors Combined | Covea | To Be Confirmed | Pending Approval |
| Tradesman & Professionals Package | Covea | To Be Confirmed | Pending Approval |
| Land & Property Owners Liability | Covea | To Be Confirmed | Pending Approval |
| Combined Liability | Covea | To Be Confirmed | Pending Approval |
Where can I find the relevant Target Market Statements?
Specific details are provided by the product manufacturer and can be found on our dedicated product pages here, when they have been provided to us.
What happens if the manufacturer identifies that a particular product does not provide Fair Value to customers?
In conjunction with insurers will take appropriate action to stop any further harm from occurring and inform all our impacted distribution partners and customers about the remedial action being taken. This could include, but is not limited to:
• Amending distribution arrangements
• Amending remuneration structures
• Adapting, or withdrawing the product
What information could Q or the product manufacturer request from brokers?
On an annual basis we'll be requesting data from our brokers to allow us to assess if the arrangements in place remain appropriate and represent value for the customer. As a minimum, the information we'll require to carry out our assessments in accordance with the FCA's PROD rules.
Can you send me a copy of the manufacturers value assessment?
Each assessment will include commercially sensitive information so these will not be provided. If we or our insurer partners do not believe a product offers Fair Value, you will be informed.
Who can I speak to for more information?
This page should provide you with the information that you need. If you have any further questions please contact us at PROD@Qunderwriting.com.