15 years ago, last month, the statutory regulation of general insurance activities was introduced. I remember it well, as I had applied for CF1 permissions as the head of an insurance broking business. One of the key regulatory requirements was for authorised firms to have a written agreement with their insurance trading partners. Agencies were to be documented through a terms of business agreement, and overnight the acronym TOBA took its place in the insurance glossary...
Exploratory insights on the challenges facing the insurance world...
The victory of the slow, steady tortoise over the speedy but complacent hare is all too familiar in the fable. But in 2020 can slow and steady still be a virtue of the insurance market when so many hares have already crossed the line?
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