ABI and GISC call for clear and consistent insurance regulation

Insurance regulation needs to be clear, consistent and aimed at everyone who deals with insurance products, not just financial services firms, say the ABI and the GISC in response to the Treasury's consultation document, Regulating Insurance Mediation. Both the ABI and the General Insurance Standards Council - the independent regulator of general insurers and intermediaries whose powers are soon to be transferred to the FSA - are keen to see the creation of a level playing field between insurers and intermediaries through regulation of the sales process. The ABI warns against ...