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As from the 14 January 2005, the Financial Services Authority (FSA) the UK's financial services regulator, will be responsible for
regulating firms that carry out general insurance business. Regulation will cover policies like motor and home contents, but also pet insurance.
Up to now, the sale and administration of these insurance
contracts has been subject to voluntary regulation and codes of practice. But in future, in most instances, firms that undertake these activities will need to be authorised by the FSA, or become an 'appointed
representative' (AR) of an authorised firm (the principal). ACORN intends to become an AR for PET PLAN Ltd |
