FSA 'Minded To Authorise' Thompson & Bryan Limited
Thompson & Bryan are proud to announce receipt of their 'Minded To Authorise' letter from the FSA dated 02/10/04
The Board Of Directors and staff of Thompson & Bryan are delighted to announce that the Financial Services Authority (FSA) have confirmed by letter that they are ' Minded to Authorise' the company to carry on general insurance business under recent legislation.
As part of the new regulation set out under Part IV of the Financial Services and Markets Act 2000 ("FSMA") all companies, including Loss Assessors who wish to carry on general insurance business are being required to register with the FSA who, in turn, have been conducting a thorough vetting of all applications. Thompson & Bryan welcome the new legislation as it requires all players in the general insurance market to adopt professional standards. Only those firms and individuals satisfying the necessary criteria (including honesty, competence and financial soundness) are granted authorisation to engage in regulated activity.
Having attained the authority, firms are expected to maintain the strict standards set by the FSA. One such standard relates to staff competence. All of Thompson & Bryan's Loss Assessing and Valuation employees are expected to study towards examinations appropriate to the disciplines within which they work for the company. Thompson & Bryan have an ongoing training programme whereby visiting lecturers from the industry including Loss Adjusters, Accountants, Statisticians and Insurance Litigation Solicitors address the staff on a variety of topics. We believe that these measures provide the necessary framework and culture within which our staff can develop professionally enabling Thompson & Bryan to continue to offer an unrivalled level of service to their clients.
