Counting the true cost of compliance.
Whether a voluntary body or not, the GISC's compliance requirements are not unreasonable but represent good business practice for all, and should pay off in the long run, says Jennifer Jarrett.
The world of compliance is second nature to the independent financialadviser but alien to the general insurance market. Financial services has
long had a big brother looking over its shoulder imposing regulations,
regimes and ways of doing things that cannot be argued with. The General
Insurance Standards Council is trying very hard to steer away from this
path - it has stated many times that it is not there to be draconian.
Indeed, now it looks likely that the GISC will remain a voluntary body
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