Toba turmoil to hit this August
Failing to act now to ensure Tobas meet Insurance Act could lead to more court action further down the line.
Terms of Business Arrangements (Tobas) need to be changed before the Insurance Act comes into force if all policies are to be compliant, according to experts.
Currently the insurance sector is working to have new Tobas in place by or on 12 August 2016.
Now compliance and legal experts have warned that Tobas need to be in place on or before 12 August 2015 if they are to meet the terms of the new Act.
Compliance expert, Mike Cranny, of Create Solutions urged the sector: "Change Tobas now!"
He
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