The FSA has published issue 13 of its General Insurance Newsletter. In this issue of the Newsletter the FSA briefly reports on:

  • Commission disclosure. The FSA gives a brief overview of the December 2007 market failure analysis and high level cost benefit analysis carried out by CRA International on transparency and commission disclosure in the wholesale/commercial general insurance market.
  • Treating Customers Fairly.
  • The new Insurance Conduct of Business Sourcebook. The FSA provides a brief overview of some of the key themes in the new Insurance Conduct of Business Sourcebook.
  • The sale of payment protection insurance thematic update. The FSA discusses its September 2007 review of the payment protection insurance market.
  • Supervision of small retail insurance brokers.
  • Insurance Sector Briefing: ICAS – Lessons learnt and looking ahead to Solvency II.
  • Insurers’ exposure to credit risk.
  • The third Quantitative Impact Study for Solvency II (QIS3).
  • QIS4 design and specification.
  • Including goodwill in capital resources. The FSA states that it has added further material to the Frequently Asked Questions which appear on the insurance section of the small firms' pages of its website. This includes an explanation of why the FSA decided to deduct goodwill from the capital resources requirement and notes some measures firms might adopt to address this issue.
  • Financial Services Compensation Scheme - Funding Review: impact on general insurers and intermediaries.
  • Contract certainty.
  • Euro sterling value for insurance regulatory purposes.
  • New insurance firms (General Insurance Corporation of India and Hartford Financial Products International Ltd).
  • Authorisations update.
  • Recent FSA publications.

View General Insurance Newsletter - Issue 14, (PDF 105KB), 31 January 2008