The above Policy Statement has been issued by the FCA outlining the final rules following on from the consultation process which started at the end of 2015. These new rules apply to Consumers only.

In newly published PS16-19, the regulator has decided to exempt all general insurance firms from this reporting requirement.

Despite being called the Third Parties (Rights Against Insurers) Act 2010, this did not come into force until 1 August 2016 and replaces an older act from 1930.

This is a new 32 module course aimed at those new to the industry or those that want a refresher about what it means to be part of the insurance broking profession.

The Financial Conduct Authority (FCA) has recently produced a Guidance Consultation on what regulated firms should do when considering outsourcing.

Although the essence of the MIFID II Delegated Acts affects mainly the investment sector, one message contained within will reverberate within the GI space, namely inducements and the importance of assessing whether an inducement, if accepted, has a demonstrable effect on the delivery of service and does not benefit the recipient at the expense of the customer.

Learning is innate - we learn all of the time and our development does not have to be just professional, it can also be personal.

RWA is delighted to announce that David Abbott joins our insurance broker solutions consultancy team. David has a diverse background in both IT and insurance broking having spent over 20 years at Hewlett Packard before starting his own insurance brokerage in 2001 which he later sold in 2013.

The first CMA reporting statement is due from Insurance Brokers on 1 August 2016.

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