Product governance

At CFC, we are committed to the development of excellent and innovative products which provide value to our customers.  Innovation and customer excellence are at the heart of everything we do, underpinned by a robust approach to product governance, in line with regulatory requirements. CFC seeks to place not only the fair treatment of customers but also good customer outcomes at the heart of its business in accordance with the FCA’s Consumer Duty.

In our role as product manufacturer, we operate a Product and Operations Committee, with oversight responsibility for the approval and development of all new products and adaptations, as well as the ongoing reviews of existing products. We undertake thorough and flexible product testing before product launches, and monitor key product value metrics to ensure our products continue to deliver value to our customers at every stage of the product lifecycle.

We want to help you fulfil your role as product distributor of CFC products, to ensure you are recommending the right CFC product to meet your customer’s needs. As such, we carefully consider the target market for each of our products, alongside key features or limitations which would make a product suitable or unsuitable for particular customer groups.  At the links below, you can find information for each of CFC products summarising:

• The target market;
• Product suitability, alongside information about groups of customers a product is clearly not suitable for;
• Key feature and benefits;
• Key exclusions, or coverage limitations.

We provide a Fair Value Assessment for each CFC product, which will be reviewed and updated at least annually, and re-published to this website.

Where we identify a problem with an existing product, or we make changes to a product to address customer harm or as a result of the product providing poor value, we will update these documents to clearly outline the changes made.