Busy quarter facing industry
Financial Services Authority legislation looms large, as no one can have failed to notice, and 11 September continues to have an impact, contributing to the last quarter of 2002 being busy for the insurance industry. Keith Byrne explains why the first quarter of 2003 will be just as eventful.
During the second half of 2002, the Treasury published itsconsultation documents on insurance regulation, there were substantial
changes to Pool Re, new regulations on asbestos, and the first anniversary
of 11 September.
On 21 October, the Treasury also released its consultative paper on
regulating mortgage and general insurance. Two key points were the
Financial Services Authority will be the statutory regulator for the
insurance industry in 2004, including intermediaries selling general
insurance
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