Morgan Clark’s Commitment to Supporting Vulnerable Customers

In 2023 the FCA’s Consumer Duty came into force. This is a framework where all FCA regulated firms are required to consistently act in the best interests of their customers and deliver good outcomes.

Morgan Clark has embraced these very important measures and our team have worked hard to implement appropriate policies and procedures which are designed to put our customers’ interests first, and where outcomes are measured to ensure a fair and consistent delivery of our services.

Morgan Clark Ltd is committed to treating all of its customers fairly, acting in the customers best interests and in accordance with the rules set down by its regulators. We recognise that there are some Vulnerable Customers who need additional help and guidance when making a claim and when engaging services to assist with the claim process, and we seek to ensure that all assistance required is given.

How firms treat Vulnerable Customers is a critical aspect of the Consumer Duty, and due to the nature of our business and the type of claims that we handle, Morgan Clark recognises that many of our customers are likely to find themselves in a position of vulnerability. As a result, even those that are most capable in normal circumstances might have an impaired ability to make rational and informed decisions. In addition, we recognise that there are some clients who need additional help and guidance when making a claim and when engaging services to assist with the claim process, and we seek to ensure that all assistance required is given, and that we change our behaviours as necessary to adapt to our clients’ needs.

At Morgan Clark we have built a genuine culture that promotes good outcomes to consumers; it is of vital importance that, while we respond to the current needs of customers, and at times of crisis, we also establish practices that can be developed over the long-term.

The term Vulnerable Customer is used more than ever, and we are committed to ensuring that all employees have a full understanding of what to consider, how to identify, and how to act.

Vulnerable customers may be less able to manage their own interests whilst dealing with an insurance claim process that may appear complex and confusing to them. Insurance protects against financial shocks – which can be a particularly acute need for people in vulnerable circumstances, therefore it is of paramount importance to us to ensure that, in their best interests, the customer gets the most appropriate type of loss assessing service.

We strive to ensure that all Morgan Clark staff can recognise a vulnerable customer and deal with them appropriately and remember that consumers are also small businesses and enterprises. We are not responsible for people’s vulnerability, but we recognise our responsibilities to them and we:

• Have trained our staff to understand the behaviour so we can recognise it
• Do whatever is practical to support the demands and needs of those customers
• Treat each customer fairly and consistently
• Communicate with them in a way that they can understand
• Make sure that we do not contribute to the detriment of vulnerable people through our interactions and always consider their best interests.
• Have addressed the risks arising to customers by implementing a thorough Vulnerable Customer Policy. Please contact us if you would like more information on how Morgan Clark ensures compliance with the FCA’s Consumer Duty and protects the interests of Vulnerable Customers.

Please contact us if you would like more information on how Morgan Clark ensures compliance with the FCA’s Consumer Duty and protects the interests of Vulnerable Customers.