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The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom. It operates independently of the UK Government and is financed by charging fees to members of the financial services industry. [ 2 ]
The Financial Conduct Authority Handbook is a set of rules required to be followed by banks, insurers, investment businesses and other financial services in the United Kingdom under the Financial Services and Markets Act 2000. It is administered by the Financial Conduct Authority in London.
The rules of the FSCS are made by the Financial Conduct Authority (FCA) and are contained in its handbook. [2] The FSCS board of directors is appointed by and ultimately accountable to the FCA. It covers deposits, insurance, debt management, funeral plans, insurance, investments, pensions, mortgages and payment protection insurance to varying ...
advising on investments other than a non-investment insurance contract (but not where this is advising on investments in the course of carrying on the activity of giving basic advice on a stakeholder product) and performing other functions related to this such as dealing and arranging;
Most travel insurance policies must be purchased prior to departure from home, or from the first departure point (e.g. an airport), depending on the product. A smaller number of brands offer travel insurance for travelers who are already overseas and have forgotten to purchase travel insurance or have a policy that has expired. [3]
The first basic categorisation of long-term insurance is between life and non-life business. Life insurance business is insurance that is contingent on human life. Examples would include a policy that pays out £100,000 if the policy holder dies within a specified time; a policy that pays out £100,000 in 10 years time, but will pay out £101,000 if the policy holder dies before the policy ...
The British Certificate of Travel (COT) is an international travel document and a type of Home Office travel document issued by the UK Home Office to non-citizen residents of the United Kingdom who are unable to obtain a national passport or other conventional travel documents.
ACORD also provided expertise on digital data standards for a collaboration with IBM, ISN, and Marsh to streamline the proof of insurance process with the help of blockchain technology. The partnership is an attempt to eliminate the time- and labor-intensive paper insurance certificates that dominate the global insurance market. [9]