Category: Compliance & AML · Reviewed by Taylor Watts, Broker · New Business · Last reviewed June 2026
The four substantive outcome areas that the Consumer Duty requires firms to deliver — Products and Services, Price and Value, Consumer Understanding, and Consumer Support — each with detailed rules and outcomes that firms must measure and evidence.
The four Consumer Duty outcomes are the substantive areas in which firms must deliver good results for retail customers. They are: (1) Products and Services — products designed to meet target customers’ needs; (2) Price and Value — products provide fair value; (3) Consumer Understanding — communications enable customers to make informed decisions; (4) Consumer Support — service meets customer needs and is no worse than support for taking out the product.
FCA Handbook, PRIN 2A.3 (Products and Services), PRIN 2A.4 (Price and Value), PRIN 2A.5 (Consumer Understanding), PRIN 2A.6 (Consumer Support). Introduced by FCA Policy Statement PS22/9.
Each outcome has detailed rules. Products and services requires manufacturers to identify a target market, to assess whether the product meets the needs of that target market, and to distribute through channels appropriate for the target market. Price and value requires a fair-value assessment by reference to the benefits and costs across the customer journey. Consumer understanding requires communications to be clear, accurate and timely — supporting informed decision-making by the audience addressed. Consumer support requires resources, channels and processes that genuinely meet customer needs — including for vulnerable customers — and that do not put up barriers to action (e.g. cancellations, complaints, mid-term adjustments) compared with sales.
Manufacturers and distributors have different obligations within each outcome — manufacturers design products and assess fair value at the source; distributors review distribution arrangements and consider their own value add. Where Apex is purely a distributor, the firm’s obligations focus on confirming the manufacturer’s fair value assessment and on its own additional fees, services and value add.
Apex’s commercial property renewal process is assessed against each of the four outcomes — products (target market and demands-needs alignment), price and value (insurer fair value statement plus broker fee), understanding (clarity of renewal letter and any mid-term adjustment communications), support (claims notification channels, complaint handling, mid-term adjustment ease).
FCA Handbook, PRIN 2A.3–2A.6. FCA Policy Statement PS22/9. FCA Finalised Guidance FG22/5.
By Matt Bartlett, Director, on 2026-06-11.
This entry is part of the Apex Insurance Wiki. Last reviewed by Matt Bartlett on 2026-06-11. Apex Insurance Brokers Limited, FCA FRN 724952, Companies House 07014570. Not regulated advice — consult your broker on your specific position.
Apex Insurance Brokers serves UK professional services firms and commercial businesses. Call 0117 325 0027, email hello@apexinsurancebrokers.co.uk, or request a quotation.
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