Opportunity for brokers to slash their FSCS contribution

steve white biba april10

Insurance Age has been made aware of at least two brokers that have resubmitted their income for business relevant to the compensation scheme to the Financial Services Authority (FSA) and have secured either a reduced bill or a refund, as appropriate. One of the brokers secured a refund of tens of thousands of pounds.

"If a firm believes that it overstated its annual income relating to its relevant business, it should get in touch with the FSA via the fees helpline," said a spokeswoman for the

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