AR network leaders welcome thematic review findings
Biba boss highlights that with an appointed rep a firm “is lending its regulatory permission to someone else and with that lending its name”.
James Sharp, business development director at Ten Insurance Services, has confirmed that the network was not one of the five unnamed firms impacted by the Financial Conduct Authority's (FCA) direct action following its thematic review.
The watchdog announced today that its investigation into appointed representatives in general insurance had uncovered "significant shortcomings" around control and oversight.
Condemnation
In a withering condemnation of many aspects of the market the FCA highlighted
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- Covéa cuts losses but underwriting deficit grows
- In Depth: Cyber risk and AI – friend or foe?