Biba speaks out against FSA's proposal to more than double minimum fee
The British Insurance Brokers’ Association (Biba) has criticised the Financial Services Authority’s (FSA) consultation paper CP10/05 which suggests raising the minimum fee from £450 to £1,000
Eric Galbraith, Biba chief executive, said that while Biba welcomed the FSA's desire to introduce a fairer and more transparent basis upon which regulated fees are levied to individual firms, the overall cost of regulation was totally disproportionate to the low risk posed by its members' regulated activities.
He continued: "Biba is still seeking far greater transparency around ‘value for money' from the regulator. The concept that, as far as is reasonably possible, the fee should reflect the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
JMG eyes Midlands and SW M&A push as it hires new regional boss
JMG Group has strengthened its leadership with appointment of Alan Percival as its first regional managing director for the Midlands and South West.
Acrisure grows UK presence striking four deals
Acrisure UK Broking has purchased three insurance brokers and a London-based managing general agent to push its strategic expansion across the UK retail broking market.
People Moves: 30 March – 2 April 2026
Keep up to date with the latest personnel moves in insurance.
Howden diversifies with new arm on back of acquisition
Howden has agreed to acquire the insurance and financial services consulting team of Hymans Robertson, marking the formal launch of Howden Insurance Actuarial and Longevity.
Brokers digitally self-servicing hits 90%, Aviva finds
Brokers’ appetite for digital self-service is rising, with 90% now happy to manage business digitally, up 10% year on year, according to Aviva’s latest broker barometer.
Blog: Is an AR boom incoming?
As the number of independent brokers reduces year on year, is the appointed representative model the way forward to bolster competition in the market following years of consolidation? Rosie Simms ponders the question.
Admiral drives into taxi market with broker partners
Admiral Business has teamed up with three brokers to launch into taxi insurance, labelling it a “growing and underserved market”.
FCA proposes 1.4% fee rise for broker block
The Financial Conduct Authority is consulting on raising levies from brokers by 1.4% in 2026/27 – double its annual budget increase – as it also laid out its work programme going into the second year of its five-year strategy.