Biba calls for more intrusive regulation of comparison sites
Comparison sites must be recognised by the regulator as more than just introducers, according to The British Insurance Brokers’ Association (Biba).
As part of its response to the Financial Services' Authority's (FSA) proposed guidance on the selling of general insurance policies through price comparison websites, Biba has argued that the current activities of these sites required more regulatory responsibility than was currently in force.
As aggregators arrange and sometimes advise consumers, Biba said they should have provide them with the relevant information including the disclosure documents. The trade body has told the FSA that
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