FCA highlights Bluefin fine as it warns on vertical business model transparency
The Financial Conduct Authority has published advice on how general insurance firms should manage potential conflicts of interest coming from vertically integrated business models.
It noted vertically integrated business models may bring together underwriting, distribution, intermediary activity, premium finance and other ancillary services.
The FCA added ownership, investment or financing arrangements can also create close commercial links between general insurers, intermediaries and related service providers and that all of this creates potential conflicts of interest.
ChecklistThe regulator recommended that if a firm operates with vertically integrated or closely
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