Regulation
Discussions to allow non-directly regulated intermediaries to become members of the Association of Medical Insurance Intermediaries (AMII) are currently underway, writes Angela Faherty.
The move has prompted concerns among existing members who believe the decision undermines the organisation's reputation for adhering to good practice standards. Currently, intermediaries can only join if they are General Insurance Standards Council members. However, AMII"s Committee are in talks to allow both directly and indirectly regulated intermediaries to become members. If approved, the new rule is expected to come into force in time for Financial Services Authority regulation on 15 January 2005.
