Many insurance brokers are adapting well to the introduction of statutory regulation but...
Many insurance brokers are adapting well to the introduction of statutory regulation, but there are still teething problems, the FSA has said.
Speaking at the Biba Scotland regional conference, Andrew Honey, the FSA's head of insurance, small firms division, said it had seen many examples of good practice amongst brokers, but warned that problems remained.
Honey said disclosure and payment protection insurance would be among the major topics for the FSA in 2005/06.
He also highlighted that the FSA needed to carefully watch the issues of claims handling, client money, critical illness and controls over appointed representatives.
