Conflicts of Interest Policy
At MSIG Europe, we are committed to acting in the best interests of our customers, shareholders, and stakeholders. We recognise that conflicts of interest can arise in any business environment, including insurance. Our goal is to identify, manage, and, where necessary, disclose these conflicts in a transparent and responsible way.
What is a conflict of interest?
A conflict of interest occurs when an individual’s personal, professional, or financial interests could interfere with their duty to act in the best interests of the company or its clients.
How we manage conflicts
- Declaration: Our directors, managers, and staff are required to declare any actual or potential conflicts of interest.
- Assessment & Mitigation: All declared conflicts are reviewed, and appropriate measures are taken. These can include enhanced supervision, temporary changes in responsibilities, or removing individuals from certain decisions.
- Record Keeping: We maintain a register of conflicts of interest, including how each case is handled.
- Segregation of Duties: We ensure that key functions like underwriting and claims are handled by separate teams.
- Oversight: Our Compliance team monitors reported conflicts and reviews mitigation actions regularly.
For our clients
Where a conflict of interest cannot be fully avoided, we will:
- Inform the client of the situation
- Explain the nature and source of the conflict
- Describe the risks and mitigation measures
- Clearly state if our internal arrangements are not sufficient to fully prevent client impact
Speak up culture
We encourage our staff to report concerns about conflicts of interest through their manager or our Speak Up process, which ensures confidentiality and appropriate follow-up.
