Insurers and insurance coverage intermediaries paid a complete of £2.7m for Monetary Conduct Authority-commissioned expert individuals critiques within the monetary 12 months 2023/24, in accordance with a Freedom of Info request by Sicsic Advisory.
Based on the strategic regulatory and threat consultancy it’s the first time the regulator has offered a breakdown between insurers and brokers, and the prices borne by corporations within the insurance coverage sector.
If the FCA is worried about elements of a regulated agency’s actions or desires additional evaluation, it may get a view from a 3rd get together, referred to as a ‘expert individual’.
Expert individuals critiques can examine a selected circumstance or subject, in addition to into the agency extra broadly if the FCA shouldn’t be
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