Biba calls for ban on banks selling insurance

Eric Galbraith

Eric Galbraith, Biba chief executive, called for the Financial Services Authority (FSA) to look into adopting a similar approach to Canada, where banks are not permitted to sell general insurance products.

The comments were made in response to the regulator’s recent announcement that it had opened a consultation into sales incentives schemes in the financial services industry.

The FSA stated that it expected firms to consider carefully whether they had incentive schemes that increased the risk

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 [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

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: