Brokers' FSCS levy will climb to £58m

Graphic showing rise in money

As part of its Plan and Budget: 2013/14 - which provides early assumptions about future claims and indicative levy estimates - brokers will be forced to stump up £58m. 

The FSCS confirmed that, following increased speculation, the 2012/13 interim levy will be £20m, meaning brokers will have paid £56m for the year in total.

The British Insurance Brokers' Association (Biba) has lobbied the Financial Services Authority (FSA) to separate brokers from other intermediaries, such as credit brokers

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