insurance scandal

Insurance in the United Kingdom, particularly long-term insurance, is divided into different categories. The categorisation is currently set out in sections 333B, and 431B to 431F of the Income and Corporation Taxes Act 1988 (ICTA) with each category of business given a different tax treatment. The Chartered Insurance Institute is a prominent professional group first chartered in 1913 The Financial Services Authority was formed in 2001 as the regulator. In 2013 the Financial Services Authority was dissolved and financial regulation was instead placed with the Financial Conduct Authority and Prudential Regulation Authority.

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