The government have exempted accountants and members of other professional bodies from proposals for supervision of the sale of travel and other general insurance products which will be required under a new European Union directive.
Link:Insurers face pressure over future profits
The Department of Trade and Industry has launched consultations about the proposal to extend the scope of the Financial Services Authority, in particular over the appropriate treatment for travel agents selling travel insurance and those selling extended warranties for motor vehicles.
But accountants are excluded so far as sales of insurance products are ‘incidental’.
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