The Financial Conduct Authority (FCA) has reminded brokers that they must be able to demonstrate they have carefully considered the insurers they place their customers’ business with.
In a guidance notice dated 21 August it said: “Suitable due diligence is a key part of the process that we expect insurance brokers to perform on the insurance companies they use.
“Our main concern is the risk to customers in the event the insurer fails and are unable to pay claims.”
The document fell
- CBL Insurance placed into liquidation
- Gallagher set to ink another deal before Christmas
- Marsh unveils Marsh-JLT Specialty plans
- Top 100 2018: Find out who made the list
- Fresh founder Lisa Powis rejoins insurance sector with tech business
- Broker Choice Awards: The winners
- Up to 50 jobs at risk amid RSA specialty and wholesale restructure