Insurers 'still finding regulation tough'
A year on from GI-Day, insurers are continuing to find regulation a struggle, according to Huntswood, a provider of professional services to the retail financial services industry. Huntswood’s poll of insurers reveals that a fifth (22%) of insurers are most anxious about the issue of training and competence, just under a fifth (19%) stated that suitability of advice caused them most discomfort and one in six stated that treating customers fairly (TCF) caused them anxiety.
Huntswood said one of the FSA’s key objectives in the run up to GI day was that firms should commence a programme of operational audit to measure the robustness of systems and controls.The survey
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