Letter of the Month
I listened with interest to the comments regarding 'desktopping' during the recent Broker Management...
I listened with interest to the comments regarding 'desktopping' during the recent Broker Management Forum. We all know that certain brokers have a reputation for this and indeed it is seen as a major tool in achieving their growth targets.
Some of these brokers are extremely aggressive and Chris Hill's comments regarding the weak link in the chain are also correct. Some insurers find it very difficult to say "No".
All parties know or ought to know, however, that this is wrong.
If other more professional brokers uncover such practices, should they inform the FSA as, clearly at the time of 'advising' a client of a 'quotation' it could easily be proven (provided the insurer co-operated and, if they did not, the FSA would surely want to know) that the desktopping broker had no quotation or authority to provide such a quotation.
The market knows this is unprofessional and can stamp out such practices provided they put professionalism above the quick buck. Isn't that what the principal of regulation is all about?
Duncan Scott,
Moray Firth Insurance Brokers.
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