RFIB unveils insolvency product for brokers
Product deals with capital reserves and managing run-off in event of insolvency.
RFIB Group (RFIB) has launched a financial resource policy backed by Ironshore Europe.
The broker stated the product had been designed to provide Financial Conduct Authority (FCA) regulated organisations, including brokers, with a way of ensuring that they meet the financial element of the FCA's appropriate resources threshold condition.
The company highlighted that the regulator states that a financial institution must have sufficient capital reserves to manage its run-off should it become
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