The Institute of Insurance Brokers (IIB) has ..

The Institute of Insurance Brokers (IIB) has claimed that in the first 24 hours following a letter to brokers written by director-general, Andrew Paddick, over 300 broking firms registered their opposition to the FSA's proposals for compensation arising from insurance mediation to be unlimited. This is in contrast to the £48,000 limit for both investment and mortgage businesses. Mr Paddick described the response as, "unprecedented in any other industry since the IIB was formed in 1987."

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