Drop-out rates rise as red tape regime takes a hold

Over three quarters of UK brokers believe their businesses have been seriously hampered by increased paperwork since the onset of Financial Services Authority (FSA) regulation, according to the latest exclusive poll by Insurance Age. Brokers have also complained of increased caller drop-out rates due to burdensome disclosure requirements.

The findings were given political clout recently when Lord Hunt of Wirral criticised FSA bureaucracy for adding to the problem of underinsurance in the UK.

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