Technical Update: General Insurance Regulation
Many companies face the prospect of having to suspend their business activity in the general insurance market from January 14 this year (N(GI)), the date on which the Financial Services Authoritys (FSA) regulation of general insurance sales and administration starts.
The evidence for this comes from a mortgage and general insurance article on the FSA website. It shows that a significant number of companies had not submitted their applications by December 2004, especially in the secondary market.
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