Authorisation benefits for GISC members

Members in good standing of the General Insurance Standards Council will have a smoother journey through the authorisation process, the FSA announced yesterday.

Sarah Wilson, director of the high street firms division, has confirmed that applications from GISC members in good standing will receive “a level of scrutiny which reflects the standards set by GISC”.

In a letter to Chris Woodburn, chief executive of GISC, on the nature of &#39due credit&#39, Wilson explained that “GISC requirements and compliance programme provide sufficient evidence for the FSA to be able to regard your members in good standing as posing a lower risk to our statutory objectives than other otherwise similar applicants.”