Market welcomes news of FSCS levy reduction
Biba pleased with FSCS announcement while brokers take a more cautious approach.
The British Insurance Brokers' Association (Biba) has welcomed the news that the Financial Services Compensation Scheme’s (FSCS) levy for 2014/15 has been reduced to £38m, down from the £62m indicative levy published in January.
Steve White, Biba chief executive, said: “"We are pleased that the levy for members has reduced by nearly 40% compared to the budgeted figure, and by nearly 30% compared to last year’s charge.
"We were concerned that the figure was too high and that with PPI claim
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