The FCA have recently issued Consultation Paper 25/12: Simplifying the insurance rules: Proposed amendments following DP 24/1 and discussion on further changes for insurance and funeral plans where it sets out its proposals to strip outdated or duplicated requirements from its insurance rulebook.
Proposed amendments applicable to insurance intermediaries:
- The FCA are looking to replace the current ‘contract of large risks’ exemption with a new definition to identify large commercial customers and specific large risks. The thresholds will likely be aligned with the eligible . . .
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