Following on from your reader's letter (6 May, Insurance Times), I'm pleased to see that they are taking action on FSA compliance. The 13 July 2004 deadline for FSA applications is looming.
Your reader believes that insurers should be providing more on the necessary support side.
At NIG, we believe we are doing as much as we can on the FSA compliance side, and have held broker roadshows, issued compliance guidelines and provided training for our broker-facing staff. This is supported by placing compliance articles on our extranet and we will shortly be introducing a frequently asked questions section. We would encourage brokers to make use of this by clicking on to www.nignetwork.com to find out more.
Publications, such as Insurance Times, are also contributing, and provide useful information in their weekly compliance section and website. The FSA's website also provides up to date information.
Finally, in answer to your reader's specific query on policy summaries, NIG intends making these available in hard copy but also on the extranet. We are also talking to all the software houses to make sure they have the information required for their broker systems.
Derek Gibbens
Head of broker support
NIG
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