Is regulation a growing burden for brokers?
▶ Sarah: It’s beginning to feel like 2004/5 [when brokers came under the Financial Services Authority’s (FSA) remit] all over again. We are all about to start exchanging terms of business agreements (Toba) en masse I fear with insurance companies. There are all sorts of changes that need to be made because of the Consumer Insurance Act (CIA) and the change of the regulator. I feel for some of the smaller companies who maybe don’t have that ability to e
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