News analysis: What next for brokers amid FCA premium finance crackdown?
The Financial Conduct Authority’s premium finance crackdown threatens a significant revenue earner for brokers. Big players with strong balance sheets are making moves
The normally dry world of premium finance barely makes it to the headlines in the insurance press.
But the Financial Conduct Authority’s looming crackdown on the product has created a story thick with plot, intrigue, and suspense.
For some brokers it’s about damage limitation, for others, survival.
Income lifelinePremium finance is a large chunk of personal lines brokers’ revenue, and without it, some will fall into trouble.
An FCA study in 2019 showed that 31% of non-core revenue in motor
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