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Improvements to life insurance provision

Date: Wed, 16 Nov 2005

The Financial Services Authority (FSA) has reported an improvement in the life insurance industry following an investigation into the general insurance business.

The FSA has concluded that its recent investigation into the insurance sector has been largely positive, with many firms following regulations introduced at the start of the year.

The investigation involved over 1700 companies that may have been conducting insurance mediation activities illegally, however, the FSA discovered that just two primary intermediaries and 14 secondary intermediaries were guilty of any intentional irregularities.

"Policing the perimeter is a vital part of our work to protect consumers, who do not have the safeguards of regulation, or access to statutory redress and compensation, if they deal with unauthorised firms," said Clive Briault, FSA managing director for retail markets.

He added: "We have been impressed with the level of understanding of the new rules in both the primary and secondary insurance markets, with most firms aware of the need to be authorised if they undertake regulated activities."


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Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.