Brokers angered as regulator backtracks on renewal rules

The Financial Services Authority (FSA)'s long-awaited Final Conduct of Business Rules, published last month, have received a lukewarm reception from brokers.

Although brokers expressed their approval at the relaxed requirements for disclosure, they have been angered by the FSA's decision not to force commercial insurers to give at least 21 days' notice for renewal terms.

The decision represents a major capitulation to insurers, and a blow for intermediaries. Grant Ellis, head of The Broker Network

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