Insurers are positive about the British Insurance Brokers’ Association’s (Biba) standardised terms of business agreement (Toba) despite slow take-up, according to Biba chief executive Steve White.
Biba launched its standardised Toba template in July last year, stating that using it would save up to 80 hours of work as well as reducing bureaucracy and broker queries, lowering costs, making disputes less frequent and increasing productivity.
Brokers welcomed the move, noting it would reduce the
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