GISC solvency rules have to be changed.
The General Insurance Standards Council Rulebook is a massive 44 pages long. While some in the marke...
The General Insurance Standards Council Rulebook is a massive 44pages long. While some in the market will have read it from beginning to
end, many will have only have read some of it and a few will not have even
opened the front cover. If you fall in the last two categories, find your
copy and go to page 26. Under Solvency, section 25, is a rule that some in
the market believe could put 25% of the intermediary/broker market out of
business.
For those of you that have not got your rulebook to hand
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