FSA warns of invalid TRIS cover
The Financial Services Authority has warned around 40,000 policyholders of Tribune Risk and Insuranc...
The Financial Services Authority has warned around 40,000 policyholders of Tribune Risk and Insurance Services that their cover is likely to be invalid.
Tribune set up as an underwriting agent in 2000 and, as such, did not need to be authorised by the FSA. However, it failed to apply for authorisation when it subsequently began to act as an insurer. Tribune has no reserves or provisions to meet claims and many of its customers have no protection.
After discovering Tribune might be acting illegally
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