The Financial Services Authority (FSA) has introduced new guidelines on how general insurance firms should deal with their customers.

A business workbook entitled the Insurance Conduct of Business Sourcebook (ICOBS) has been introduced which highlights the standards and requirements expected.

Dan Waters, FSA director of retail policy and themes, said ICOBS was another step in the right direction.

He did though strike a cautionary note in saying that although he felt most of the general insurance market was operating satisfactorily there were certain sectors which needed attending to.

"In a few areas, like payment protection insurance, we have responded to continuing market failures and consumer detriment by introducing carefully targeted rules to help ensure that consumers achieve a fair deal," he said.

The new regime will come into force on January 6th 2008 with all firms expected to comply with the required standards by July 6th.

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