Larger brokers facing hike in FSA fee review

The Financial Services Authority (FSA) has revealed that medium-sized brokers face fee rises of around 13% over the coming year.

The regulator's fees consultation paper for 2006/7 outlines a 13-15% rate rise for 27% of general insurance brokers. This will almost solely hit those at the top and middle end of the market.

It is understood that general insurers could also face a hike in FSA rates, with large and medium firms expecting an increase of between 10 and 12%.

A spokesman for the FSA said