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.

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