Biba pitches industry wide fair value assessment templates
The British Insurance Brokers’ Association has targeted further regulatory rule simplification in its 2026 Manifesto, as it urged industry wide support of developing a fair value assessment template, and called on the government to deliver a new Financial Services Bill.
Formally launched in the Houses of Parliament yesterday, Biba’s Manifesto titled ‘Economic Resilience’ listed 10 key asks for stakeholders, including a number of regulatory areas still requiring improvements.
One area pointed to was the lack of clear details around product fair value and fair value assessments. Biba’s regulation director David Sparkes observed people don’t understand what they need to show to prove they’ve done a robust review of a product’s value.
Effect of regulationGraeme
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