Spotlight on solvency
The industry is facing new challenges as solvency levels come under scrutiny and, with the impending Financial Services Authority requirements, brokers need to be mindful of their own and their clients' financial stability, as Richard Adams reports
Proof of the level of a company's solvency has come under the spotlight following the high-profile collapses of Enron, Worldcom and, in Europe, Parmalat, among others. Accountancy - the tool that is supposed to validate financial strength - has also subsequently come under scrutiny and is undergoing reform as a result. How can brokers, without the luxury or opportunity to lord over a client or insurer's books, be assured of their insurer or client partner's financial durability? As brokers
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