Does the Princess Royal need to register with the FSA?
I ask this question as she is the president of the Royal Yachting Association (RYA), which is involved with the selling and providing of insurance both direct and through its exclusive arrangement with broker Bishop Skinner.
The exclusive arrangement is such that the RYA will not allow other insurance firms to advertise in its magazine, and it receives commission from Bishop Skinner on insurances it introduces to this broker.
We competed for the account so I know the facts.
The question is important as not only the RYA, but other boating groups and associations also operate various insurance schemes through brokers, agents or insurance companies, whereby they earn commission.
Do these groups, including the RYA, have to register or how is this situation catered for?
I can't find any direct reference to this situation in the many pages of FSA rules, regulation and advice.
David Crum
Newton Crum
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