The Institute of Insurance Brokers has claimed ..

The Institute of Insurance Brokers has claimed that brokers who accept credit cards for premium payment could be seriously exposed to millions of pounds of insurer debt. The association stated that its discussions with a number of large personal lines brokers suggest that brokers could be placing themselves in danger of liquidation or seriously breaching Financial Services Authority solvency requirements, which could force the closure of their business. Director general Andrew Paddick stated:

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