WFII is of the opinion that every country should have specific regulation on insurance intermediation.
WFII believes that good and fair regulation/legislation is critical to public confidence in the insurance industry. It will improve the relationship between the insurer, intermediary and consumer/customer and strengthen consumer confidence and protection. Regulation and legislation should also encourage fair competition and protect the integrity of the market. Further, it will provide a facility for those adversely affected by market abuse to seek appropriate redress.
WFII principles: Regulation on insurance intermediaries (June 2002)