Clarity on delegated authority
Peter Staddon, managing director of the Managing General Agents' Association, calls for clear structures around business responsibilities.
At the beginning of June the Sword of Damocles was raised over a large part of the insurance distribution chain as a consequence of the FCA's thematic review of the entire delegated authority process.
Their review highlighted a number of issues that go to the heart of business systems and controls, not least the need for a clear allocation of responsibilities between all parties involved with delegated authority facilities. This is not just to manage conflicts created by a dual agency
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