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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

liability to a policyholder

    (in relation to a firm carrying out contracts of insurance) any liability or obligation of that firm to, or in respect of, a policyholder, including any liability or obligation arising:

      1. (a) from the requirement to treat customers fairly under Principle 6, including with respect to policyholders' reasonable expectations; or
      1. (b) from a determination of liability by an Ombudsman; or
      1. (c) from any requirement to pay compensation under the regulatory system.2