Please note that the full interview/article (which will include contributions from others) is available direct from the provider’s site and that copyright applies to the whole article – therefore my contribution only has been quoted.
From the Insurance Times
Branko Bjelobaba, founder of compliance consultants Branko Ltd, told Insurance Times that this might be because a lot is going on in general insurance and that the FCA want firms to “really think” about their response.
He warned that brokers and insurers need to think about the issue carefully, as the FCA is on the lookout for irregularities and inappropriateness involving bad products, poor service, lack of transparency and even why distribution chains might take so long.
“A lot of firms don’t engage with the FCA,” Bjelobaba added, be it because of apathy, fear, laziness or inertia. He referenced the regulator’s “live and local” event last week in Cambridge where only seven firms turned up.
But the regulator is on a mission to change this.