Bound to do well
The future of binding authorities under the FSA has not been settled, and the schemes require close, conscientious administration - but they still offer good marketing and money-earning opportunities for intermediaries of all sizes, reports Liz Booth
To brokers, the idea of binding authorities may seem very straightforward and hugely beneficial. After all, why not have the power to write business on behalf of an insurer and earn lots of commission - with the possibility of profit-sharing too?
But there is a lot more to binding authorities - not least the fact that the Financial Services Authority (FSA) is still considering how they should be handled under its forthcoming regulatory regime. And there have been horror stories in the past of
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