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What does the Senior Managers & Certification Regime mean for the insurance industry?

Watch: SMCR for insurers

KPMG Partner, David Miller, shares his views on the key challenges for insurers and brokers.

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David Miller

Partner, Risk Consulting

KPMG in the UK

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On 26 July, the FCA extended the Senior Managers and Certification Regime (SMCR) to all FSMA firms - including insurers, investment firms, insurance and mortgage brokers, asset managers and consumer credit firms. Around 47,000 additional financial services firms and 200,000 individuals are likely to fall within the scope of SMCR.

Watch our video as David Miller, Partner in Risk Consulting, explores what the key challenges are both insurers and brokers, what the main differences are between Senior Insurance Managers Regime (SIMR) and Senior Managers and Certification Regime (SMCR) and explains why he believes SMCR is a positive step for the industry.

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