Biba issues response to Treasury consultation

A HM Treasury sign

The British Insurance Brokers’ Association (Biba) has responded to the HM Treasury consultation: A new approach to regulation – building a stronger system, and called for proportionate, appropriate and cost-effective regulation for brokers.

The trade body welcomed the decision to regulate insurance brokers in a single authority - the Financial Conduct Authority (FCA) - but also took the opportunity to highlight the disproportionate nature of brokers' fees compared to the limited risk they posed.

It also called for the Financial Services Authority (FSA) to urgently progress its consultation on the fundamental review of the Financial Services Compensation Scheme, to ensure that new rules are in place for April 2012.

It demanded that

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.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

Broking Success: Embracing technology

Mark Thomas, founder of Compare Insurance, is looking to harness the power of technology even further to continue the pace of 60% growth the business achieved last year.

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: