Brokers urged to keep delegated authority records
Sector urges intermediaries to keep accurate records following FCA review and calls for further work ahead of Solvency II.
The broking sector has been advised to keep accurate records with regard to delegated authority following an FCA review which slammed the market and how it deals with outsourcing.
Steve White, CEO at the British Insurance Brokers' Association (Biba), pointed out that issues around delegated authority have been on the radar for a while.
White advised that he had not seen the findings in detail or spoken to the regulator about the potential impact, but reminded the sector that the exertion of
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