Insurance market update - March 2012
The Deloitte view for non-life insurers
The FSA’s client money framework imposes rigid rules on insurance intermediaries holding client assets. Compliance with this framework is still at the top of the regulatory agenda, seven years after its introduction. Client money rules and guidance continue to present challenges across the insurance market. Whilst insurance brokers undoubtedly need to improve performance against the rules, the forthcoming review by the FSA presents an opportunity to more clearly establish the standards expected.
In this edition, we explore some of the common challenges faced by firms in meeting FSA requirements and look to the future of client money regulation in the context of wider changes in the regulatory environment.
Insurance Market Update (PDF)