Optimum Specialty Risks (OSR) is committed to developing and overseeing cyber insurance products that deliver fair value and positive outcomes for customers. Our approach to product design, oversight, and review is aligned with FCA requirements, including the Consumer Duty.

As a co-manufacturer of our products, OSR plays an active role in product governance throughout the product lifecycle. This includes defining target markets, assessing product suitability, and ensuring products continue to meet customer needs and represent fair value.

All OSR products are subject to ongoing review, with oversight of product performance, value indicators, and distribution feedback. We undertake regular Fair Value Assessments to assess whether the price paid by customers is reasonable in relation to the benefits, cover, and services provided.

Our Fair Value Assessments are reviewed at least annually, and more frequently were triggered by product changes, performance concerns, or potential customer harm. Where issues are identified, we take appropriate action and update our documentation accordingly.

Our latest Fair Value Assessments are available to download below to support brokers in meeting their own Product Governance and Consumer Duty obligations.