And brokers cannot have failed to notice that the incoming FCA looks like it will add considerably to their workload.
At the Broker Expo South, hosted by Insurance Age, compliance consultancy firm RWA warned a packed out regulation workshop that the new watchdog will “definitely” be asking for brokers to submit more information.
Delegates were also told to expect more visits, and the overarching message of the session could be summarised as ‘ready or not, here they come’.
This week, brokers have
- Aviva pulls agency with GRP
- Amazon “working with” UK brokers and insurers
- City Insurance Brokers and Compass launch profit insurance scheme
- Hiscox updates cyber and data insurance product
- Video: GDPR – Future proofing your business: Don’t panic!
- AIG warns of rise in data breaches as GDPR comes into force
- Launderette-based insurance ghost brokers jailed