Brokers disheartened by FSCS increase
No expectations of fall in levy for years.
Brokers have resigned themselves to paying high levies for the Financial Services Compensation Scheme (FSCS) for years to come with little hope of any future reductions.
The views came a day after the FSCS forecast that the levy charge on the subclass that brokers sit in would increase by 15% in 2014/15.
The £8m hike follows a steady stream of increases which the British Insurance Brokers' Association (Biba) described in its recent manifesto as having caused some brokers to see a 50-fold
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