Time to Act
A seismic change to the way brokers operate is due in April, but the industry doesn’t appear to be ready, says Stephen Netherway
When in 2005 ‘GI Day’ dominated the news agenda and Financial Services Authority regulation took over from the previous GISC (General Insurance Standards Council) regime, brokers couldn’t move for advice and suggestions about how to cope.
The industry was left in no uncertain terms that the new Insurance Conduct of Business Rules would, through compliance costs and other expenses, impact their bottom line and make doing business a considerably trickier affair.
Fast forward to 2013 and a similar
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