Biba hits out at Europe over compulsory commission disclosure timetable
The British Insurance Brokers’ Association (Biba) has said it is very disappointed that the European Commission has imposed a five-year timetable for compulsory commission disclosure in the general insurance sector.
Biba claimed the decision meant Europe had ignored the views of EIOPA (the European Insurance and Occupational Pension Authority), HM Treasury, the Financial Services Authority and all the leading insurance broking representative bodies in Europe.
The broker trade body added that it was extremely concerned that the Commission had not fully reflected a level playing field in respect of an insurer equivalent to remuneration disclosure and that it would be working with members to propose an
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