ABSTRACT

Compared with some financial services insurance is a well-defined subject area. This is partly because of the way insurance is regulated. There are some fuzzy edges and they are becoming fuzzier. Firstly, it is normal to exclude national insurance. Secondly, it is common to include ‘risk’. Insurance is essentially about risk and, to an insurer, risk (or a risk) can mean the thing that is being insured as well as the chances of a loss. Thirdly, the boundaries between insurance and other financial services are becoming blurred. At the same time the traditional life insurance salesman with his foot in the door has become a qualified financial adviser, offering advice on a whole range of investment products as well as traditional life assurance. In addition to commercial sources the two most important providers of insurance information in the United Kingdom are the Association of British Insurers and the Chartered Insurance Institute.