Dearth of insurer clarity leaves brokers in a tight spot
The Consumer Insurance Act is less than a month old but already broker alarm bells have begun ringing.
In the space of a few days the British Insurance Brokers' Association (Biba) and compliance consultancy UKGI have both warned about the perils of brokers being exposed to increased liability claims.
Essentially, the new Act will serve to shift profoundly the balance of power between insurers and their clients, leaving brokers caught up in the middle of this change.
Customers are no longer duty bound to volunteer all the necessary information on quotation. Instead the onus is on brokers to
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