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WHAT DEALERS MUST DO A truck dealer selling insurance products faces four choices.
16th October 2003, Page 38
16th October 2003
Page 38
Page 38, 16th October 2003
— WHAT DEALERS MUST DO A truck dealer selling insurance products faces four choices.
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• Become an 'introducer to an authorised insurance provider.
• Become an authorised representative of a company which is directly authorised by the Financial Services Authority.
• Become directly authorised by the FSA.
• Stop selling insurance.
If you decide to stop selling insurance after January 2005 you will need to plan for losing much of this business ahead of the deadline.
If you plan to continue you will need to explore options 1-3 and action is required now if you want your new service to be up and running before January 2005.
For further information contact the FSA on www.fsa.gov.uk or the General Insurance Standards Council on www.gisc.co.uk. CM will be covering the changes in more detail over the coming months.