Referral fee ban could be catastrophic for brokers
Industry experts have warned that brokers reliant on an income stream from referral fees could find the government’s ban disastrous for their business.
Most experts agreed that the devil would be in the detail on how the government would implement its announced intention to ban referral fees for personal injury claims.
David Haynes, underwriting manager at Arag was one person to welcome the decision.
"We think it was inevitable. They have attempted to strip out other costs relating to the whole process, while this has remained [almost] untouched and it was [always] going to be taken away or managed differently."
He did however raise concerns as
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