The insurance industry has seen significant change in the last 3 years, but none more so than in the regulatory arena. The selling of General Insurance went from a self-regulating position to being regulated by the FSA on the 14th January 2005 and since then the industry has had to adjust to a variety of new rules and principles. Sterling recognises how important it is for our clients to operate in a fully compliant environment and with that in mind, this area of our organisation provides a variety of services to potential and existing clients.
John Cugley is the Head of the Legal and Compliance Department. John’s team provides specific advice on policies and procedures, assistance with sales processes, scripting and information packs to brokers, intermediaries and other clients. This area will also assist with training and provides ongoing support to clients, in the light of any changes to regulation. It is because we are very well represented on the relevant trade bodies across the industry that we ensure compliance does not become a one-off exercise but is maintained by our clients through our informed updates. At every level we engage with the FSA to ensure that the needs of both the industry and clients are addressed.