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.
Brokers have faced interim levies in the past but CEO Steve White highlighted this was the
- Legal Protection Group confirms loss of Inter Hannover capacity
- Towergate’s Andy Parkin resurfaces at Gauntlet
- Laurent Matras takes interim Axa retail MD role as Gareth Howell departs
- Profits up at Allianz in 2018
- Consolidation opens up opportunities, says Romero boss
- Ghost broker jailed for two years
- Up to 275 jobs at risk at Axa XL in the UK