Post Magazine

Post Magazine: "Norwich Union launches online broker regulatory risk tool
Norwich Union has launched a new online tool to help avoid the threat of fines or being barred from doing business under the FSA�s rules regarding broker-insurer trading arrangements.
The Broker Regulatory Risk Tool is a free service which allows intermediaries to assess the level of risk and value presented to them by a variety of different trading methods and incentives.
Once the broker has awarded a score for each arrangement, the tool then shows the level of possibility that a particular incentive might lead to non-FSA compliant activity � depicted in a �red-amber-green� format to show the level of danger.
Simon Bloomfield, broker proposition development manager at Norwich Union, said: �Just because something is considered to be a �market practice� does not mean that it is going to be compliant and the online tool is aimed at helping brokers to manage the potential regulation risks that they face.� "