FSA inspections "inadequate"

The Financial Services Authority (FSA) should look more closely at its knowledge base of how the private medical insurance (PMI) market works, a prominent broker has said. Susan Colley, principal of West Country Health Care, said the knowledge of the PMI market currently held by FSA inspectors was inadequate. She said: "I had a visitation from the FSA last week and it became patently obvious that the inspectors' knowledge of the PMI market is limited. "I cannot stress strongly enough that this telephone assessment of PMI brokers is a total waste of time. You cannot assess what we do as ...