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)


Where Q Underwriting is classed as Distributor, we have been liaising with our Insurer partners (Manufacturers) and taken their guidance as to which Target Market Statement and Fair Value Assessment relates to which product. We have provided a link to the relevant websites and signposted to their most relevant product.


Who is the Product Manufacturer for Casualty & Construction?

Product NameInsurerOur RoleTarget Market Statement and Fair Value Assessment Available? 
Combined LiabilityAXADistributor Click here (Target Market Statement), N/A (Fair Value Assessment)
Contractors CombinedAXADistributor Click here (Target Market Statement), N/A (Fair Value Assessment
Excess Liability CombinedZurichDistributor

 This forms part of the Commercial Combined (public &products Liability Section) and monoline Public &   Products Liability product family:

 SME - Firm's to £5m Turnover -Small/Medium Enterprise - Broker product information  (zurich.co.uk) (Expand   Commercial Contractors Combined).  

 Mid-Market – Firm’s above £5m Turnover - Mid-market - Broker product information  (zurich.co.uk)  (Expand   Commercial Combined)

Land & Property Owners LiabilityAXADistributor Click here (Target Market Statement), N/A (Fair Value Assessment)
Tradesman & Professionals PackageAXADistributor Click here (Target Market Statement), N/A (Fair Value Assessment)

 

Who is the Product Manufacturer for Motor?

Product NameInsurerOur RoleTarget Market Statement and Fair Value Assessment Available? 
Day DriverAvivaDistributor Click here, please refer to Aviva's Commercial Motor product
Executive SingleAvivaDistributor Click here, please refer to Aviva's Commercial Motor product
Legal Expenses (Motor)ARCDistributor Click here (Target Market Statement), N/A (Fair Value Assessment)
Motor Trade CombinedTravelers  Distributor Click here (Target Market Statement), N/A (Fair Value Assessment)
Motor Trade (Road Risks)
AvivaDistributor Click here, please refer to the Manufacturers' Motor Trade product
Motor Trade CombinedAllianzDistributor  Click here (Target Market Statement), N/A (Fair Value Assessment)
RAC BreakdownRACDistributor Click here (Target Market Statement), N/A (Fair Value Assessment)
Taxi FleetAvivaDistributor Click here, please refer to Aviva's Commercial Motor product
Taxi LiabilityAvivaDistributor Click here, , please refer to the Manufacturers' Commercial Combined product
Taxi SingleAvivaDistributor Click here, please refer to Aviva's Commercial Motor product
Truck Mini FleetAvivaDistributor Click here, , please refer to Aviva's Commercial Motor product

Who is the Product Manufacturer for Specialist Combined?

Product NameInsurerOur RoleTarget Market Statement and Fair Value Assessment Available?
Charity CombinedAvivaCo-ManufacturerClick here(Target Market Statement), Click here(Fair Value Assessment)
Commercial Loss RecoveryLoregaDistributor Click here (Target Market Statement), N/A (Fair Value Assessment)
Faith CombinedAvivaCo-Manufacturer Click here(Target Market Statement), Click here(Fair Value Assessment)
Legal ExpensesARAGDistributor Click here (Target Market Statement), N/A (Fair Value Assessment)
Recruitment CombinedAvivaDistributor Click here, please refer to the Manufacturers' Commercial Combined product
Recruitment CombinedTravelersCo-Manufacturer Click here (Target Market Statement), N/A (Fair Value Assessment)

Who is the Product Manufacturer for Financial Lines?

Product Name InsurerOur Role  Target Market Statement and Fair Value Assessment Available?
 Management Liability RSA Distributor Click here (Target Market Statement) Click here (Fair Value Assessment)
 Professional Indemnity Combined Markel Distributor Click here (Target Market Statement)

Who is the Product Manufacturer for Real Estate?

 Product NameInsurer Our Role   Target Market Statement and Fair Value Assessment Available?
 Legal Expenses (Property Owners) ARC Distributor Click here (Target Market Statement), N/A (Fair Value Assessment)
 Property Owners AXA Distributor Click here (Target Market Statement), N/A (Fair Value Assessment)
 Property Owners ERGO Distributor Click here (Target Market Statement), N/A (Fair Value Assessment)
 Block of Flats AXA Distributor Click here, please note that this product is to new and renewal customers
 Clubguard AXA Distributor In run off with effect from the 1st July 2024
 Combined TravelersCo-Manufacturer In run off with effect from the 1st September 2024
 Commercial Combined AXA Distributor In run off with effect from the 1st September 2024
 Machinery & Computer Breakdown Aviva Co-Manufacturer In run off with effect from the 1st September 2024
 Offices & Surgeries AXA Distributor In run off with effect from the 1st September 2024


Where can I find the relevant Target Market Statements?

Specific details are provided by the product manufacturer and can be found by clicking the relevant link in the table above. The table will be updated when specific details 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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