The Financial Services Authority will give the U.K. insurance industry two years to find ways to improve commercial insurance contract certainty, instead of deferring details. If the industry's efforts fail, the agency will impose its own solution, said FSA Chief Executive John Tiner. The FSA also plans to examine potential conflicts of interest in the market following New York Attorney General Eliot Spitzer's investigations of commission practices in the United States, said Mr. Tiner in setting out the FSA's agenda. The FSA, which regulates U.K. insurers, will begin regulating brokers as well in 2005.
Britain to change law on retirement age
By 2006, the …
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