<Table> <Tr> <Td> </Td> <Td> This article needs additional citations for verification . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed . (March 2014) (Learn how and when to remove this template message) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> This article needs additional citations for verification . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed . (March 2014) (Learn how and when to remove this template message) </Td> </Tr> <P> Insurance in the United Kingdom, particularly long - term insurance, is divided into different categories . The categorisation is currently set out in sections 333B, and 431B to 431F of the Income and Corporation Taxes Act 1988 (ICTA) with each category of business given a different tax treatment . The Chartered Insurance Institute is a prominent professional group first chartered in 1913 The Financial Services Authority was formed in 2001 as the regulator . In 2013 the Financial Services Authority was dissolved and financial regulation was instead placed with the Financial Conduct Authority and Prudential Regulation Authority . </P> <P> In 2005, regulation of payment protection insurance was cited as a priority by UK's financial regulator; this scandal partially motivated the reorganization in regulatory agencies which occurred in 2013 . </P>

Who regulates the insurance industry in the uk