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FSA refines plans for regulating general insurance.

Publication: M2 Presswire
Publication Date: 30-JUN-03
Format: Online - approximately 756 words
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-30 June 2003-UK Government: FSA refines plans for regulating general insurance(C)1994-2003 M2 COMMUNICATIONS LTD

RDATE:06302003

The Financial Services Authority (FSA) today published its revised proposals for regulating the sale of general insurance, which begins on 14 January 2005. In response to feedback on CP160 and separately commissioned independent research on costs, the FSA has amended its plans to ensure that regulation properly reflects the risks in the general insurance sector.

This consultation paper (CP187) contains draft rules which will raise the standard of advice consumers receive, reduce the likelihood of consumers buying inappropriate cover and improve service standards for handling claims and complaints. The main policy changes are:

-- Critical illness,...

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