Product Oversight and Governance

Product oversight and governance activities are designed to provide assurance that our products:

Launching new products, or making material changes to our existing products, is governed through our Product Development Process. Before new products, or changes, are launched, our internal governance arrangements ensure that the following assessments are undertaken and approved:

As product manufacturers and co-manufacturers, we are required to supply information about the intended target markets for our products. We have therefore produced a series of Target Market Statements relating to our product groups.

To view a full list of Target Market Statements that outline product governance, target audience, eligibility and distribution method for each product, please follow this link.


Please note that our Target Market Statements are only intended to provide an indicative summary of the target market for a product, and are not summaries of coverage. Please refer to the relevant policy documentation for full details of the coverage provided.

In accordance with Financial Conduct Authority (FCA) Policy Statement (PS21/5), ARAG completes Fair Value Assessments (FVAs) for all core products on a regular basis. Such reviews will be undertaken every 12 months or more frequently where the potential risk associated with the product makes it appropriate to do so.

In assessing whether core products continue to offer fair value to the intended customers for a reasonably foreseeable period, these assessments include consideration of factors relevant to the product, including:

It is important to note that the insurance element is only part of the product. Other services such as access to Helplines and Online Legal Documents also need to be considered when looking at the ‘value’ offered by the product.

Please note: The FVAs will be updated by the anniversary date of the last review, so please do not contact us for updated versions before then.