View more on these topics

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.

Recommended

Wesleyan removes notice period from savings account

Wesleyan Savings Bank is revamping its telephoned based Wealthsaver Direct Savings Account.The move will see the bank remove its 60 day notice period for withdrawals and allow customers instant access to their funds.The interest rates on the account will remain unchanged.Wesleyan chairman and managing director Lowry Maclean says: &#34The removal of the notice period will […]

Hogg Robinson seeks clarification on bid

Financial services and travel group Hogg Robinson is seeking to clarify the £275m approach made by Active Value Advisors according to the Financial Times.Hogg&#39s has written to AVA asking what vehicle will be used in the bid and how funds would be raised.The move follows an announcement by AVA that it would not make a […]

Clerical Medical cuts endowment premiums

Clerical Medical has slashed the premiums on its Flexible Mortgage unit linked endowment plan to increase its competitiveness in the market.To help IFAs make the most of the new rates the life office has produced a new version of its flexible mortgage illustration system which is available on CD-Rom or floppy disk.As well as providing […]

Pressure to remove FSA right to immunity

Conservative MPs and prominent City figures have stepped up pressure on the Government to scrap plans giving the FSA immunity from prosecution reports the Financial Times.The chief executive of the Futures and Options Association Anthony Bellchambers said the move would deprive firms on the receiving end of FSA negligence no comebacks.Tory MP Andrew Tyrie has […]

taxes

Out from the long grass? An IT and NI merger

Those with a long memory will recall that at the start of the last parliamentary term George Osborne announced his intention to merge income tax (IT) and national insurance (NI).  Headline grabbing as the initiative was, the reality of the complexities, challenges and costs of such a move resulted in this idea being kicked into the political long grass.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com