Policy wordings solutions
RPC’s dedicated wordings team exists to help our clients deliver products to market of which they can feel both proud and confident that they will perform as expected.
Led by Tamsin Hyland, RPC has a dedicated cross-disciplinary wordings team made up of lawyers with a claims background and technical drafting expertise, who partner with colleagues from the insurance regulatory and commercial side of the business – bringing oversight of the wider regulatory landscape, product governance issues, Consumer Duty, FOS/FCA oversight/jurisdictions etc. The team collaborates with subject matter experts from around the firm, in UK and Asia as well as our Global Access partners.
We deal with reviews of individual products, library consolidation projects and thematic reviews as well as new product design and drafting, across mono-line and combined products for SME/mid-market through to multi-national master programmes with jurisdictional intricacies. The team has considerable experience working with start-ups, preparing new wording suites and associated literature as well as providing wider regulatory advice during the product development journey.
In addition to project-based work we also offer outsourced support to in-house legal functions and underwriting teams.
Examples of work
Developing new products for example, bespoke contingent liability, renewables, tech and med-mal risks
Drafting wordings suite and associated literature for new start-up MGA
Drafting a new master commercial combined wording for global retail insureds.