We all knew the FSA was on a mission following the scalding criticism it received over the banking crisis. But now, as its inspectors storm the corridors of the fastest-growing insurance brokers, firms are fuming over greater demands for information and stricter deadlines. As only the largest 5% of brokers receive these intensive site visits, they complain that the FSA is creating a two-tier market where smaller firms get away with light-touch regulation at a distance. In this piece for Insurance Times, I asked whether these bigger brokers are under unfair pressure – or whether they should just deal with it and stop moaning.
Unobtrusive yet always on hand, tirelessly fulfilling every whim with scrupulous discretion: the perfect broker or insurer for the very rich sounds rather like the perfect butler. But if you think you’ve got what it takes, the high net worth sector is not a bad place to be. I wrote a guide to the market for Insurance Times.