Final GI rules reveal contract can carry automatic renewal clause

Unveiled on Tuesday by the Financial Services Authority, this is among one ofthe many key changes which brokers and advisers face from 15 January 2005 whengeneral insurance and non-investment (pure protection) products, as well as theassociated advice, becomes regulated by the FSA. In order to ensure advisers are not hit by potential commission clawback claims from insurance providers or mis-selling claims by the client, intermediaries would need to make it very clear at the time of sale that this clause is included in the contract. Some of the key regulations advisers will have to ad...