ABI backs new capital adequacy regime
Following the publication today of the Financial Services Authority's (FSA) Insurance Sector Briefing ('ICAS: one year on'), Peter Vipond, director of financial regulation and taxation at the Association of British Insurers (ABI) has backed the regulator's approach as 'good for customers and firms'. He argues, however, that the FSA has to be careful not to overburden the industry with capital requirements and that legacy regulation should be abolished wherever this is legally possible.
Speaking at an ABI member conference on insurance financial regulation, Mr Vipond said: "The ABI strongly supports the FSA's introduction of ICAS (Individual Capital Adequacy Standards). This newOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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