BIBA 2010: Willis CEO questions FSA's "grandfathering" of Quinn
Willis chief executive Joe Plumeri has questioned the Financial Service Authority's (FSA) role in the problems revolving around Quinn Insurance.
The business, which is currently in provisional administration in Ireland, has only recently been allowed to underwrite a limited number of business lines in the UK.
He told delegates at this morning's British Insurance Brokers' Association conference: "Should the FSA have regulated Quinn directly rather than allowing it to be grandfathered into the UK?
"Will the FSA change its regulations to impose more stringent oversight on insurers grandfathered into the UK by other European regulators?
"Fin
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