ABI urges FSA to avoid excessive regulation and costs

The Association of British Insurers has criticised the FSA's proposals on general insurance regulation to create 'higher risk' products and to protect small business customers, saying they are unnecessary and could reduce access to cover. In response to the consultation paper 160 on general insurance regulation the ABI said that it does not accept the proposal that income protection, critical illness and private medical insurance require additional safeguards in the sales process. On the contrary, says the ABI, these forms of insurance are "good value and easy to understand pr...