Biba welcomes FSA proposed guidance for comparison websites
The British Insurance Brokers’ Association (Biba) has welcomed the Financial Services Authority’s (FSA) guidance consultation for insurance comparison websites.
The FSA has stated that it has found failures to comply with its rules which could result in the consumer not being treated fairly. Its proposed guidance could lead to comparison websites having to review their disclosure documentation and a range of matters including their sales procedures.
Biba has claimed it first highlighted the issue of consumer detriment from comparison websites in 2008.
Eric Galbraith, chief executive at Biba, said: "Our concerns from 2008 have focused on the gap
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