Biba and IIB to join forces
The British Insurance Brokers' Association (Biba) and the Institute of Insurance Brokers will team u...
The British Insurance Brokers' Association (Biba) and the Institute of Insurance Brokers will team up to find a market solution to the Financial Services Authority's (FSA) concerns over commission disclosure.
The two industry bodies have agreed to work together to alter the wordings of their recommended Terms of Business Agreement (TOBA) to satisfy the regulator's concerns.
Steve White, head of compliance at Biba, said: "Our members tell us that they would prefer to develop a market solution over
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