brokers

The Financial Conduct Authority (FCA) has sent a ‘Dear CEO’ letter from Roma Pearson, Head of Department, Retail General Insurance, to intermediary firms setting out the key risks posed by insurance intermediaries to customers. The letter asks firms to consider the extent to which the risks identified exist in their business and assess…

  • The Government’s response to the FSI contains both good and bad news for insurers and brokers
  • One issue of concern is the proposal that ASIC must approve all changes in control of AFS Licensees.  This will significantly expand such regulatory oversight beyond authorised insurers to a multitude of insurance brokers and underwriting agencies.

The good…