Many across the industry have been distinctly underwhelmed by the new Insurance Conduct of Business sourcebook but, as Lucy Quinton writes, it still holds a few surprises.
A s the deadline of the publication of the Insurance Conduct of Business (ICOB) sourcebook drew closer at the end of 2007, the market began to hold its breath over what the regulatory body was going to inflict on the sector — particularly after the unwelcome Christmas present the Government handed out at the end of 2006 when it decided to scrap pension term assurance. When the delay at the back-end of last year was announced, there were a few nervous moments as the market waited to see exactly what the regulatory body had up its sleeve. The Financial Services Authority (FSA) has remaine...
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