March 2007

FSA tackles financial crime in the insurance industry

This press release (6 March 2007) describes a new (voluntary) reporting system, under which insurers and intermediaries are invited to inform the FSA when they suspect criminal behaviour. The FSA have in mind particularly circumstances which lead an insurer to terminate an agency agreement with an intermediary on the basis of doubtful practice or suspected misconduct, or where an intermediary has doubts about another intermediary. The press release explains how to make a report, and gives links to further information about the system and contact points for enquiries.

Press release