- Financial Services and Markets Act 2000 — Regulated activities
This chapter examines the statutory regime for the regulation of insurers as well as intermediaries and brokers dealing with insurance products. It first provides an overview of terminology and categorisation of insurance under European Union legislation and UK regulation before discussing the evolution of the regulatory approach to insurers. It then considers EU law and UK law on insurance and reinsurance, along with the relevant provisions of the Financial Services and Markets Act 2000, Contracts (Rights of Third Parties) Act 1999, and other applicable legislation. It also analyses insurance regulation under the Financial Ombudsman Service and the Financial Services Compensation Scheme. Finally, it assesses the influence of EU legislation on the structure and much of the detail of the UK regulatory regime for insurance.