Biba 2014: research shows UK brokers have the most expensive regulatory regime
Costs are five times higher than France and Germany.
The British Insurance Brokers' Association (Biba) has revealed research demonstrating that insurance brokers in the UK have the most expensive regulatory regime in the world.
According to the trade body, brokers' regulatory fees and levies cost more than five times that of those in New York, Japan, France and Germany.
The research unveiled at Biba 2014 in Manchester shows that the cost of regulation for small brokers has increased from 3% three years ago to 4% of income now.
It also details that
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