We also recognise there may be other vulnerabilities that are linked to claim , for example a vulnerability around how some people get paid and how they budget , and the disruption that a change in frequency from weekly to monthly income could bring . As an example , with our Income Protection cover , we allow people the choice of being paid weekly or monthly , and let them choose when they receive the payment . This is designed to ease budgetary stress and allow them to align their payment to important outgoings like their rent or mortgage .

One interesting side point to mention , is that in the course of our review into how our claims support meets the Duty requirements , there was some discussion about whether we nominate an individual within the claims team as a ‘ vulnerable customer champion ’. While this – as a headlinegrabbing approach – could seem like a good thing to do , upon discussion , we felt that everyone in the team is responsible for our claimants when they are vulnerable , and as such , everyone effectively plays that important role .

What now ? Supporting our advice partners to meet the Duty

We ’ ve done a lot of work to document how our business is Duty compliant . We now want to continue our work with advisers to ensure Guardian , and the firms who recommend us , can meet the Duty in both letter and spirit to the benefit of our mutual customers , and we want to support advisers with what they need from us .

Our perception from working with advisers over the last five years , is that an increasing number are already paying much greater attention to the claims process , both in terms of claims being paid in a timely manner and around how the industry helps clients at times of such great stress .

The challenge now is to make sure that all advisers are mindful that every client has the potential to be classed as vulnerable if they need to claim . And that , for Duty purposes , advisers should be able to talk about how they are supporting these customers .

In this regard , we hope the Consumer Duty documentation on our website , our literature around Guardian ’ s claims support , as well as the contents of this article , provide some insight and a helpful framework to help advisers document how they support vulnerable claimants . As always , we welcome feedback from our partners .

‘ Find out more about our claims support here : https :// adviser . guardian1821 . co . uk / claims / or contact your Guardian BDM .’

Guardian Financial Services is an appointed representative of Scottish Friendly Assurance Society Limited . All products are provided by Scottish Friendly .’

| PROTECTION ADVISER | AUTUMN 2023 | 21