April 2007

General Insurance Brokers Newsletter - Issue 7

This was published at the beginning of April 2007. It leads on the review of the ICOB rules and the recent feedback on the latest round of client money work. There is also a reminder that the transitional arrangements, which currently allow general insurance intermediaries to include the value of goodwill when calculating capital resources, will end on 14 January 2008. Any firm which relies on the value of goodwill to meet part of its capital resources requirement needs to consider what arrangements it will make to ensure that it has sufficient capital available after that date.