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Only 12% believe Government FSA overhaul will meet 2012 deadline

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Almost three fifths (58%) of insurance professional questioned by the Chartered Insurance Institute think that the industry’s needs have not been taken into account in the plans to overhaul the Financial Services Authority.

The survey also found that 61.4% of respondents did not think that the regulatory shake up will be fully ready by the Government's 2012 deadline.

According to its submission to the Government's

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How should success of FCA’s response to Which be judged?

The effectiveness of the Financial Conduct Authority’s regulatory action in response to Which’s super-complaint about home and travel insurance is reflected in smoother claims handling, not in the number of reviews or fines, according to Claire Massey, founder of Claim Guardians.

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