ABI at odds with Biba over FSCS funding model

It comes after the British Insurance Brokers' Association gave the new rules a "cautious welcome". 

However, in a statement the ABI said: "It is not reasonable to expect the insurance industry to bear a cross-subsidy on FSCS levies to cover failures in different parts of the financial services sector.

"We generally welcomed last summer's proposals by the FSA for a new levy basis to be applied for the new Prudential Regulation Authority and Financial Conduct Authority, but the current proposals