General insurance to reform “by end 2007”

General insurance regulation in the UK will be split along business lines from the end of this year, according to plans set out in full by the Financial Services Authority (FSA) following its review of the general insurance regime. While certain products such as home, motor and pet insurance will be subject to certain deregulatory measures, the rules for the sale of some protection products – namely payment protection insurance and term assurance – will be tightened.