Brokers and insurers set to face more costs

Brokers and insurers are set to face yet more costs following the FSA's newest rules on the reporting of retail insurance product sales. The FSA says in CP197 that all retail firms must report every product sale, either on a bi-annual or quarterly basis, depending on the firm's income. The FSA plans to align reporting periods with firms' financial years and move reporting to an IT-based system to reduce costs. Grant Ellis, managing director of the Broker Network, said he was concerned that y

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: