French loss adjusters will be regulated as UK adjusters cry foul
Cila is set to lobby the EU after learning that the French interpretation of the EU Insurance Mediation Directive (IMD) will stipulate that loss adjusters must be regulated.
The French ruling has fuelled fears that UK loss adjusters, who are not regulated, may be restricted from operating across the channel.
Cila recently received a translation of the enabling act facilitating the introduction of the IMD in France.
Cila deputy president Andy King said: "The translation appears to suggest that French loss adjusters will be regulated".
King added that the French representative of the European loss adjusting federation FUEDI had also indicated that French adjusters will be regulated.
"We will lobby Brussels through FUEDI as we want to make sure all recognised loss adjusters continue to be allowed to operate on a cross-border basis."
The FSA has already made clear its position that it will not directly regulate loss adjusters working for insurers.
Many UK loss adjusters said they would prefer to be directly regulated by the FSA because they claimed it would ensure greater confidentiality when sharing information such as accounts.
An FSA spokeswoman said the UK's interpretation of the Directive was the responsibility of the Treasury. "The Treasury takes the IMD and implements this into UK legislation and the Treasury gave us responsibility for regulation."
