Voice of the broker
Lord Turner’s views on the regulation of the market will undermine the future of the broking industry, says Ashwin Mistry
The insurance industry – or to be precise the Association of British Insurers’ (ABI) members – pays £10.4bn in tax annually and a massive £56bn flows into this country from insurance premiums.
The contribution we make to the UK economy is beyond dispute. And yet, if we believe Lord Turner, that contribution is made at the expense of our customers. As he said bluntly in his recent Mansion House speech: “In financial services the potential for the customer to be ripped off is simply far greater
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