The Pinsent Masons Guide to Insurance Distribution: Law and Regulation
In Britain a single authority, the Financial Services Authority (FSA), created by an Act of Parliament in 2000, acts as the country’s regulator for insurance, investment business and banking. By contrast, in the USA each state effects its own financial and insurance regulatory framework.
But Federal regulation has been pushed to the forefront by the current economic meltdown. Since the recent near failure of insurance giant AIG in September 2008, there have been calls for the US to embrace federal regulation of the insurance industry as early as 2009. It is in this context that The Pinsent Masons Guide to Insurance Distribution can serve as a useful reference book.
Written by specialists at Pinsent Masons, a commercial law firm specializing in insurance, this guide outlines British regulatory law covering insurance companies creating partnering distribution agreements – those detailed arrangements between insurers and the parties who can sell and distribute insurance policies on the insurers’ behalf. Readable and accessible, it deals with all aspects of the distribution of insurance through third party providers, the responsibilities and liabilities within the context of current law, and good practice.
But Federal regulation has been pushed to the forefront by the current economic meltdown. Since the recent near failure of insurance giant AIG in September 2008, there have been calls for the US to embrace federal regulation of the insurance industry as early as 2009. It is in this context that The Pinsent Masons Guide to Insurance Distribution can serve as a useful reference book.
Written by specialists at Pinsent Masons, a commercial law firm specializing in insurance, this guide outlines British regulatory law covering insurance companies creating partnering distribution agreements – those detailed arrangements between insurers and the parties who can sell and distribute insurance policies on the insurers’ behalf. Readable and accessible, it deals with all aspects of the distribution of insurance through third party providers, the responsibilities and liabilities within the context of current law, and good practice.
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