Biba brands Mactavish claims "opportunistic" and "wholeheartedly disputes" them
Trade body says brokers are acting in their customers' best interests and are following FCA rules on remuneration.
The British Insurance Brokers’ Association (Biba) has stated that it “wholeheartedly disputes” issues raised by Mactavish in a report on broker remuneration published today (21 May).
In the report, Mactavish claimed the broker remuneration model presents a “huge conflict of interest”, with brokers receiving as much as 80% of their remuneration from insurers while only 20% of their revenue is composed of fees from their clients.
In response, Biba stated: “Brokers are the agent of the client as
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