Building from the ground up
The clock is ticking for the industry to take contract certainty initiatives on board. Colin Foster offers his advice on how brokers can achieve this with the minimum of disruption
Pressure is mounting on insurance companies to embrace contract certainty initiatives in the near future. Indeed, John Tiner, ceo of the Financial Services Authority (FSA) and Nick Prettejohn, ceo of Lloyd's, have both recently called for the industry to self-regulate by the end of 2006. Failure to do so will result in the FSA introducing yet more regulations that insurance companies will be forced to comply with.
The industry is agreed on the need for action to ensure contract certainty, in
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