As the baton passes
Chris Woodburn, chief executive of the General Insurance Standards Council, looks back at what his organisation achieved as it steps aside to allow the Financial Services Authority to take up its duties
It was in 1998 that the Government decided to shelve the Insurance Brokers (Registration) Act 1977 - and the seeds of the General Insurance Standards Council (Gisc) were sown.
At that time, regulation was fragmented. The Association of British Insurers (ABI) Code of Practice for the Sale of General Insurance covered direct sales by insurers through agents and unregistered independent intermediaries, and the Lloyd's Act of 1982 obliged Lloyd's to ensure that those who brought business to its
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