Who should pick up the tab when brokers fail?
MS: I think the two main reasons why brokers fail is dishonesty or mismanagement.
Brokers should only fail, therefore, if their risk is badly or not continually assessed or the regulatory authorities have failed to spot mismanagement.
Who should be responsible? The credit givers, the insurers or the regulator.
Why should I pay for it?
LH: I think also the finance providers.
MS: You mean the people who finance the premiums? But that is not the
- Aviva pulls agency with GRP
- Amazon “working with” UK brokers and insurers
- City Insurance Brokers and Compass launch profit insurance scheme
- Hiscox updates cyber and data insurance product
- Video: GDPR – Future proofing your business: Don’t panic!
- AIG warns of rise in data breaches as GDPR comes into force
- Launderette-based insurance ghost brokers jailed