Biba responds to FSA consultation paper
The British Insurance Brokers’ Association (Biba) has responded to the Financial Services Authority (FSA) consultation paper outlining its members’ view that firms selling connected travel insurance should be subject to the same regulatory environment as specialist insurance intermediaries.
From a consumer perspective, the same suite of disclosures should be given, irrespective of where the consumer chooses to purchase their insurance protection said Biba in a statement.
Graeme Trudgill, Biba technical and corporate affairs executive, commented: “Our members are satisfied that the majority of the FSA proposals are acceptable but have significant concerns with two major areas of the proposals – Professional indemnity insurance and disclosure rules.”
Biba said that it agreed with the
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