General insurance investigation delivers positive outcome

The FSA visited more than 1,700 firms around the country it thought were potentially conducting insurance mediation activities illegally, according to an FSA report. This included visits to both potential primary intermediaries – brokers who sell insurance as their main business – and secondary intermediaries – firms who sell insurance as a secondary activity to their main business. Yet the FSA found only two primary intermediaries and 14 secondary intermediaries were wilfully acting illegally. The FSA says it has been working with the firms, where breaches found were inadvertent or ...