Minimising Risk Exposure for the SIPP/SSAS Market
Understanding The Challenges
We appreciate the challenge to continually meet the demands of customers and regulators, places considerable focus on how the sector operates. The Consumer Duty requirements for the SIPP sector adds a further level to the scrutiny of your work practices and processes. The Consumer Duty brings about a fairer, more consumer-focused approach to ensure customers can pursue their financial objectives.
We strongly believe the principle of delivering good outcomes will place greater emphasis on how you administer and arrange the ongoing protection of any property placed within a SIPP. For properties under a SSAS, FCA regulation arises at the time of placement of the property insurance where the principle of treating customers fairly must be adhered to. In both cases, reducing risk exposure is vital to delivering good outcomes to protect the asset within the pension fund.
Creating a Robust Insurance Programme & Audit Support Process
We believe our expertise and knowledge of the specific challenges you face can help structure a robust ongoing process to ensure your interests, and ultimately the property investments within a SIPP/SSAS are adequately protected. For this reason, we focus on your property due diligence process (pre and post completion) to assess and identify any risk exposure enabling us to then structure a suitable property portfolio insurance solution.
For more information about how our specialist property insurance service and solutions can be aligned to your own operations, please contact:
Trevor Palmer FCII: Real Estate Account Director
T: 0345 241 3420
M: 07749 432 929