New insurance regs mean higher premiums - Papers 10 January

Patrick Snowball has criticised changes that will see some 36,000 companies come under the regulation of the FSA, accusing the watchdog of unnecessary red tape and creating a "gold plated level of regulation". "Funding the FSA's requirements will cost an extra £2.80 per policy. These are costs that will be met in the main by increased premiums," he says. From Friday, any company selling, advising or arranging general insurance must be registered with the FSA. LEADING ECONOMISTS might be split over whether the Bank of England will increase interests rates later this week, writes The S...