Biba issues series of commitments after FCA flat insurance report
The British Insurance Brokers’ Association has set out a series of commitments to the Financial Conduct Authority and the government to help achieve better outcomes for leaseholders, especially those living in high rise residential buildings that require remediation work, Insurance Age can reveal.
The commitments have been sent in a letter to the Department for Levelling Up, Housing and Communities, now led again by Michael Gove.
The then Secretary of State at DLUHC, Simon Clarke, wrote to Biba CEO Steve White in September.
Clarke had demanded immediate changes to unfair commissions and a plan to reform market culture and practice after the regulator’s report into multi-occupancy buildings insurance.
Clarke had taken aim at “disturbing evidence on remuneration practices” citing
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insight
McCafferty leaves chair role at BDH
Brendan McCafferty has left Top 100 Broker BDH, Insurance Age can reveal, with the business confirming it was an ‘amicable’ departure and there are no plans to replace the now former chair.
Axa updates two products
Axa UK Commercial has made enhancements to its offices and surgeries, and digital mini fleet products.
Aviva responds to Direct Line’s £10.6m fine
Aviva has confirmed it was fully aware of the ‘historical’ accounting errors that have led to the Prudent Regulation Authority hitting Direct Line Group with a £10.6m fine and stated there will be no impact on the integration or the financial benefits it expects from the takeover.
PRA fines Direct Line underwriter £10.6m
The Prudential Regulation Authority has fined UK Insurance Limited, a subsidiary and principal underwriter of Direct Line Group and now part of Aviva, £10.625m for a miscalculation of its Solvency II balance sheet during 2023 and 2024.
Aon leader Kus named new chair of Liiba
Tracy-Lee Kus, CEO of Aon’s global broking centre, has been appointed chair of the London and International Insurance Brokers’ Association succeeding Howden’s Andy Bragoli.
Sabre ‘all in’ on broker support as CEO Carter eyes growth after profit boost in 2025
Sabre is ready to grow with brokers as the provider promised the sector it “can rely on us to provide competitive prices through our part of the market through this year’” CEO Geoff Carter told Insurance Age.
JMG recruits Cunis from Gallagher to lead on private clients
Andrew Cunis has left Gallagher to join JMG Group in May as CEO of private clients, Insurance Age can reveal.
Alps enhances landlord legal expenses and rent protection product
Managing general agent Alps has updated its landlord legal expenses and rent protection product, in a move designed to support landlords as they navigate the implications of the Renters’ Rights Act.