The British Insurance coverage Brokers’ Affiliation has welcomed the Monetary Conduct Authority’s business insurance coverage regulation dialogue paper, calling it a “constructive first step”.
The FCA launched the dialogue paper on the regulation of economic and bespoke insurance coverage enterprise earlier this week.
The watchdog invited suggestions on whether or not its guidelines strike an acceptable steadiness between safeguarding prospects who want regulatory protections, and competitiveness within the business basic insurance coverage market.
It needs to guard business prospects appropriately however not put pointless regulatory prices on corporations or hit innovation, the watchdog claimed.
David Sparkes, regulation
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