How the FSA is going to affect YOU! (or how to avoid going to prison)

Document description

This paper describes some matters which we expect to be contained in FSA rules coming into force in Autumn 2002. The Board of an insurer should satisfy itself that it has adequate resources. One way of doing this is to commission a Financial Condition report, or at least ensure that similar work is carried out. The purpose of the paper is to encourage comment from actuaries on the draft rules, due to be published in the spring and to encourage them to continue and to develop their involvement and expertise in general insurance.