General practice
The Financial Services Authority is poised to take a hard line on the sale of private medical insurance but, though further customer education is important, is heavier regulation really the answer? Catherine Nicoll says a regulatory compromise is within arm's reach.
In CP 160, the Financial Services Authority proposed that privatemedical insurance be categorised as a higher risk product, subject to
heavier regulation. It is also seeking views on whether regulations should
require practitioners in PMI to be qualified by examination.
But how much of a threat to the public does PMI insurance pose? After
nearly three years of General Insurance Standards Council rules and codes,
PMI insurers and intermediaries seem to be coping well with the diversity
of products
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