Leading legal expenses and assistance provider ARAG has successfully completed the process to renew the company’s certification as a registered supplier under the Financial Services Qualification System (FSQS).

 

FSQS is a community of financial institutions that includes banks, building societies and insurance companies such as NFU Mutual, LV=, Chaucer and RSA, collaborating to agree a single standard for managing the increasingly complex information needed to demonstrate compliance to regulators, policies and governance controls.

The FSQS process covers a diverse range of compliance, from data security and records management to labour standards and modern slavery, which significantly reduces the work required of buyers to conduct due diligence and assess supplier risk.

George Bladon, Corporate Business Manager at ARAG, commented,

FSQS clearly has a lot to offer both service providers like ourselves and prospective business partners looking to offer products and services that depend on third and sometimes fourth-party delivery.

The range and level of information that we have provided is very extensive, so certification represents quite a significant time investment for ARAG, but it will clearly pay dividends in the long run, benefitting both us and potential business partners enormously.

The accreditation process also requires suppliers to be audited against FSQS requirements in the areas of business continuity, health and safety, anti-bribery, recruitment, fraud, business governance and sustainability, among many others.

Disclaimer - all information in this article was correct at time of publishing.

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