Insurance industry must take the initiative

The insurance industry must take the initiative and pull together in order to tackle head-on problems with the new Financial Services Authority (FSA) regime - from duplication of documentation to confusion around interpretation of the rules - insisted Eric Galbraith, British Insurance Brokers' Association chief executive. He said: "If we don't act together it will not be treating customers fairly - more confusing customers unnecessarily. Let's grasp the issues now and take the initiative."

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