Biba and IIB liaise on transparency
As revealed by Insurance Age last month, the British Insurance Brokers’ Association (Biba) and the Institute of Insurance Brokers (IIB) have confirmed that they are both keen to move forward with an industry initiative to address the regulatory concerns about transparency, disclosure and conflicts of interest.
Both broker trade bodies have responded in detail to the discussion paper DP08/2 – ‘Transparency, disclosure and conflicts of interest in the commercial insurance market’ and have made known to the FSA their strong views against the imposition of mandatory commission disclosure.
Ann Peel, the IIB’s head of technical services said: “There is a great deal of common ground between the broker trade bodies on this and the FSA seems receptive to the possibility an industry solution. If we provide more
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Regulation
CII calls out ‘hesitant’ vulnerable customer data processing
The Chartered Insurance Institute has published guidance to support insurance and personal finance firms in managing vulnerable customers’ data.
Fraud website latest addition to growing list of FCA fakes
The Financial Conduct Authority has warned of a fraudulent and dangerous website in its third alert in three months about scammers impersonating it.
GI AR numbers fall again
The general insurance and protection sector saw the biggest fall in the number of appointed representatives last financial year, the Financial Conduct Authority has calculated.
Final quarter addition takes insurance S166 annual total to seven
The Financial Conduct Authority (FCA) served one insurance firm with a skilled person report in the final quarter of 2025/26, taking the total to seven, the lowest in the past three financial years.
CII launches consultation into young driver safety and role of telematics
The Chartered Insurance Institute has launched a national consultation to gather views on the role insurers can play in improving road safety for young drivers.
FCA insurance authorisation service declines in final quarter
The level of authorisation service by the Financial Conduct Authority in the areas hitting brokers worsened in the final quarter of 2025/26 with only two out of five categories rated green.
House of Lords committee launches home and travel insurance regulation inquiry
The House of Lords Financial Services Regulation Committee has launched an inquiry into the regulation of the UK’s consumer insurance market, and has called for submissions.
Blog: An insurance take on why ‘Spygate’ is as much about governance as it is football
The news has been abuzz with the Southampton FC ‘Spygate’ scandal over the last week. James Yorke offers his perspective on the compliance issues at play through an insurance lens.