Biba urges government to re-think regulatory approach
The British Insurance Brokers’ Association (Biba) has called on the government to address regulation issues and to provide more support for the general insurance broking sector in the upcoming Autumn Statement.
In a letter to chancellor George Osborne, Biba CEO Eric Galbraith advised the government that the private sector should be involved in drafting regulations, specifically stating that trade associations should be invited to submit “precise redrafting of existing regulations” before a wider consultation on any changes.
Mr Galbraith said that current regulatory burdens placed on Biba members, both large and small, were “rapidly becoming unsupportable for many”.
He continued: “Our members fully
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