FSA control = more expense.
The Financial Services Authority taking full control of general insurance means yet another draconia...
The Financial Services Authority taking full control of generalinsurance means yet another draconian set of rules, fines and costs for
brokers.
The latter includes the cost of the FSA fees, compliance, and continuing
personal development schemes and it also seems likely brokers'
professional indemnity premiums will escalate.
The additional cost will then result in the closure of many small firms -
just as with the financial services industry.
Recently, insurers have been cutting commission. Are
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