Brokers express serious concerns

Brokers have expressed serious concerns over the Financial Services Authority's (FSA) plans to use the Financial Services Compensation Scheme (FSCS) to provide compensation to policyholders, should an intermediary go out of business. The British Insurance Brokers' Association said it was concerned over the FSA's plans to create a sub-scheme for brokers under the FSCS and perhaps to further sub-divide this. This is especially crucial in light of the FSA's move to reduce the levels of compulsory

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