Matt Dyer answers a question on risk transfer
Question: "As a predominantly motor/home broker we issue cover on behalf of insurers - not only cover notes but also policies via EDI. Does this in itself constitute risk transfer?"
Answer: "In a recent publication the FSA sought to clarify the position over risk transfer. From what you have said the answer is yes, it would constitute risk transfer, and therefore for monetary segregation purposes you would be holding insurer money and not client money."
Matt Dyer is managing director of the Insurance Training Consortium
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
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.
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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
