Most insurers and brokers say they are ready for 10 December when the Senior Managers & Certification Regime (SMCR) comes into force.
However, ask if they are prepared for the impact on managing staff and they are generally less assured. The SMCR is much more than a structural tweak to your senior team.
The new certification and referencing regimes and conduct rules entail fundamental changes to the way employees are managed, to what records are kept about them and to workforce stability and mobility. None of this is spelled out in the new rules.
Please click here to read the full article. This article first appeared in Insurance Age on 26 October 2018.