The funding changes become effective from 1 April 2008.
Last week, the Financial Services Authority (FSA) confirmed future funding arrangements for the FSCS which expanded the overall capacity of the scheme up to a maximum of £4.03bn per year. For general insurance intermediaries that level is £195m, a significant increase on previous funding requirements for the FSCS.
Biba said in a statement that it believed this level was disproportionate in comparison with insurance company threshold and
- Profits up at Allianz in 2018
- Laurent Matras takes interim Axa retail MD role as Gareth Howell departs
- Market moves: Across the board
- Legal Protection Group confirms loss of Inter Hannover capacity
- Regional review: Cardiff
- Towergate’s Andy Parkin resurfaces at Gauntlet
- Allianz prepared for "turbulent" 2019