UK PLC - regulation's golden guinea pig?
Has the early adoption of European Union regulation in the UK put insurance firms at a disadvantage, or has this head start placed them in a position of power to pursue pan-European business, John Needham asks
A number of insurers and brokers have commented that they feel as if they are getting a raw deal compared to their European counterparts in terms of European Union (EU) regulation. However, are UK firms really reaping rewards of a more onerous compliance environment?
Some might argue that there are two areas of regulation where this may be the case, the first of which covers the Insurance Mediation Directive (IMD), which was implemented in the UK in early 2005. In May 2008, the last country in
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