FSCS to hit brokers with extra levy bill next month, warns Biba

invoices

The British Insurance Brokers’ Association (Biba) has warned that an extra Financial Services Compensation Scheme (FSCS) levy bill will be dropping through brokers’ letterboxes in early February.

The trade body underlined that the supplementary levy will be in addition to the annual FSCS levy.

Biba stated the call for cash was a result of the FSCS life and pensions sub-class breaching its limit.

Costs
Brokers have faced interim levies in the past but CEO Steve White highlighted this was the

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: