Not all TOBAs expected to be signed in time for regulation
Brokers may not have their terms-of-business agreements signed in time for regulation by the Financi...
Brokers may not have their terms-of-business agreements signed in time for regulation by the Financial Services Authority.
The Institute of Insurance Brokers said it is busy reviewing TOBAs on behalf of its members. Barbara Bradshaw, director and secretary of the IIB, said the problem is that some insurers are yet to issue new business agreements and TOBAs are being issued on a daily basis. The FSA said it expects TOBAs to be agreed by 14 January.
Where TOBAs are not in place, the regulator will
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