The FSA has announced that it will conduct a review of the effectiveness of its general insurance regulatory regime.
The review will be launched in April 2006, and will measure the effectiveness of the regulatory body, the FSA said.
Clive Briault, FSA managing director of retail markets, told the Chartered Insurance Institute annual conference: “This review will be undertaken alongside the review of the effectiveness of the mortgage regime.
“If the review leads us to conclude that changes to our rules and guidance are necessary, we will, of course, consult on these in the usual way.
“However, we need to recognise that our ability to make changes is constrained by European Directive requirements –in particular, those in the insurance mediation directive and the distance marketing directive”.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
