Biba demands action from regulator on FSCS
Eric Galbraith, chief executive of the British Insurance Brokers’ Association (Biba), has called on the Financial Services Authority (FSA) to accelerate its fundamental review of the Financial Services Compensation Scheme (FSCS).
Mr Galbraith said: "I am concerned that recent comments by the FSA have shown that the FSCS issue is not as high priority for the FSA as it is for us and our members.
"The recent publication of the FSCS's interim budget for 2011/12 with a potential further 50% increase in levies for insurance intermediaries highlights once again the fundamental unfairness in the current funding model. It is imperative that the FSA now pushes forward with its consultation process to ensure that a more equitable
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
With Brewis and Mills gone, what can brokers expect from the FCA in 2026?
Compliance experts are hoping for a slowdown and simplification of rules from the Financial Conduct Authority throughout 2026 following Matt Brewis and Sheldon Mills exit from the regulator. Rosie Simms reports.
Two in five brokers expect telephone/in-person sales growth despite tech upsurge
Two fifths of brokers see growing in-person sales as distinguishing factor in an increasingly digital age, according to a survey of commercial and personal lines brokers by Open GI.
End of Year Review 2025: Corin Underwriting’s Andy Hurrell
Corin Underwriting CEO Andy Hurrell outlines the view a softening market rewards discipline; raises an eyebrow about the number of MGAs doubling down on scale over specialism; and advises rather than reacting to the crowd, back your underwriting judgement.
End of Year Review 2025: Gambit Insurance Solutions’ Ajay Mistry
Founder and director of Gambit Insurance Solutions and co-Chair of iCAN Ajay Mistry believes small brokers need to be more assertive in the soft market and predicts at least one insurer will launch a product in which over 80% of the commercial underwriting workflow is transparently AI-driven.
Ex-Jensten duo to launch SME MGA with Mission
Managing General Agent incubator Mission has announced that it has reached an agreement to support a new team in launching Kovrilo, a UK MGA that will provide a range of commercial insurance products tailored to SME clients.
Tuplin exits Everywhen
Richard Tuplin, CEO of general insurance broking at Everywhen, is leaving Ardonagh, Insurance Age can reveal.
Bain’s Jensten buy completes
Global private investment firm Bain Capital has completed the purchase of Jensten Group from private equity house Livingbridge.
Start-up broker Pelican’s MD praises ‘transformative’ Aviva support programme
Chris Braniff, managing director of Pelican Insured, has made changes to all of the broker’s processes following taking part in Aviva’s Future Leaders Programme.