NEW regulations could leave Worcestershire customers facing longer telephone calls to complete insurance polcy paperwork.
The Financial Services Authority (FSA) is bringing in changes on Monday, January 14 to regulate general insurance sales and administration.
The regulations mean insurance companies will have a clear duty to explain to customers full details of the product on offer and its cost; details of the underwriter; the benefit of the product and any exclusions.
And companies across Worcestershire and Herefordshire are busy making changes to comply.
Many insurance businesses have also been advising customers in advance of the changes so they can be prepared for longer phone calls.
Simeon Chapman, training and quality manager with Clarke Roxburgh Insurance - which has offices in Malvern, Worcester, Evesham, Droitwich and Hereford - said the company had been preparing for the changes for the past two years.
The company has been looking at its procedures, ensuring staff are compliant to give advice and are monitored and training schemes are in place.
One of the new regulations means companies will have to send out a summary with each retail policy, adding to the postage costs.
Mr Chapman said it meant people would be on the telephone for longer but the move was generally positive for the consumer.
"I think the aim is admirable and we're now waiting to see what it means on a day-to-day basis once the enforcement side is in," he said.
"Obviously, it's increased our costs substantially with the extra post we will have to send. What they're trying to do is very good and forcing the standards higher."
But Chris Harvey, head of policy and representation at the Chamber of Commerce, Herefordshire and Worcestershire, expressed concerns.
"The regulations are designed to help consumers but the danger is, particularly for those who try to do business over the telephone, there'll be too much information they won't be able to digest," he said.
"Perhaps consumers need to be given information in some other way as well so they have something they can read in their own home or office before they finally commit themselves.
"The Chamber of Commerce has been concerned about the growth of regulations coming from the Financial Services Authority, because, while the principles underlying them are sound, the practical implications of many of the proposals add a significant level of burden to businesses without necessarily delivering the required benefits."
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