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Insurance brokers to get new set of rules

General insurance brokers will need to have professional indemnity insurance of at least £1m according to the industry&#39s new regulator.


The industry&#39s self regulatory body, the General Insurance Standards Council says intermediaries will not be allowed to mix customer monies with their own and must maintain solvency at all times.


The proposed rule book was published today as part of a consultation document.


The rules contained within it and governing approximately 30,000 brokers are set to apply from next February.

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