FT.com / UK / Business - FSA warns firms on protection of client assets: "Steven White, head of compliance and training at the British Insurance Brokers Association, said: “It is important to understand that a lot of the money the insurance brokers are handling is not actually client money.
“When they are collecting premiums, for example, they usually are acting as an agent of the insurer, which means that the premium is the insurer’s as soon as it is collected and there is no risk to the customer.”"
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Who's money is it? That is question we asked, no response.
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