The General Insurance Standards Council (GISC) has warned firms will need to join in the near future...
The General Insurance Standards Council (GISC) has warned firms will need to join in the near future if they are to give themselves time to become GISC-compliant and receive due credit in the Financial Services Authority's (FSA) authorisation process.
'There will be a point beyond which new members of the GISC will not receive due credit. Applications for membership will still be accepted while the GISC is the only recognised regulator of general insurance,' said Anthony Howland Jackson, chairman of the GISC.
n The FSA has announced implementation of mortgage protection and long term care insurance will be 31 October 2004 while all other forms of general insurance will join on 14 January 2005. The previous target deadline was October 2004, but was delayed as the relevant EU Insurance Mediation Directive was only published on 15 January this year.
