Applying the finishing touches
With less than a year to go before Financial Services Authority regulation comes into force, Carla Roberts outlines key points of the draft rules and finds out how claims handling is likely to be affected
As surely the whole insurance industry is aware, 14 January 2005 sees the Financial Services Authority extending its statutory powers to the regulation of general insurance sales and administration. In exercising its powers, the FSA must act in a manner consistent with its specified statutory objectives of maintaining market confidence, increasing public awareness of the financial system, securing protection for consumers, and reducing financial crime.
The FSA has set out its approach to claims
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