Brokers opt for 1% insurance levy

The Heath Lambert Group has announced a new system of payment for work carried out on behalf of insurance companies which it claims will set a benchmark for the broking sector.

Heath Lambert has introduced the Broker Insurer Services Commission (BISC) - a flat rate payment for work undertaken on behalf of insurers and is levied at 1% of total premium throughput.

The broker said BISC would be totally transparent to the insurance market, clients, regulators and industry bodies; fair and reasonable

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