Right to apply
In the run-up to Financial Services Authority regulation in January 2005, the actual number of general insurance brokers that will apply for authorisation is presenting a significant challenge. Nicolle Farthing examines the facts
Although the exact constitution of the broker market is uncertain, the initial signs are that its demographics are not going to shift significantly in the run-up to regulation by the Financial Services Authority.
From 14 January 2005, the FSA will regulate the sale of general insurance products. However, despite researching the broker market, the FSA has only an estimate of how many firms it expects to apply for authorisation.
Kate Bristowe, spokeswoman at the FSA, says: "The huge challenge is
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