FCA strips back insurance rule book
The Financial Conduct Authority has laid out plans to remove outdated or duplicated requirements from its insurance rule book, after it asked what improvements could be made.
The FCA launched a discussion paper on the regulation of commercial and bespoke insurance business in July 2024. The watchdog invited feedback on whether its rules strike an appropriate balance between safeguarding customers who need regulatory protections, and competitiveness in the commercial non-investment general insurance market.
In November, the regulator reopened parts of its discussion paper in response to demand.
According to the FCA, under the proposals published today the insurance
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