Biba welcomes the move as brokers were previously expected to contribute £60.9m to the retail pool for the financial year 2021/22.
Biba’s David Sparkes shines the spotlight on fair value and vulnerable customers in our new quarterly examination of the regulatory landscape
Mixed responses from trade bodies as the government sets out proposals for adapting the UK regulatory framework for financial services post-Brexit.
In an attempt to help firms better prepare for the Financial Conduct Authority's new product governance rules, trade associations representing the general insurance market have produced a fair value assessment template.
Edward Murray explores why brokers are being left out in the cold when it comes to insurer service and asks what has driven the collapse in quality
Experts say employee ownership increases staff retention and encourages staff to work together, but take-up among brokers is low.
While the tax cut on flights ahead of COP26 grabbed headlines, brokers breathed a sigh of relief as hated insurance premium tax remained at 12%.
Executive director Graeme Trudgill says signposting service is a chance for the industry to come together and urges brokers to get involved.
The directory is set to launch later this year and the organisations are now calling for specialist brokers and providers to register to be part of the service.
Trade body says the scheme will allow brokers, on an introducer basis, to provide protection cover including mortgage, family, income and critical illness, along with key person, shareholder, business loan, relevant life protection, group life, group…
The scheme has been developed alongside Yutree Underwriting.
Experts say brokers need to review their business models after the regulator slams the industry for "weakness" over product governance rules and highlights its focus on fair value.
News analysis: Rachel Gordon investigates how broker-owned loss adjusters are changing the claims process and whether they could pile on the pressure for insurers.
Chief revenue officer, Christen Smith, tells Insurance Age about the drone specialist's plans for growing its broker network and launching new products.
The MGA revealed that the new policy, which includes a Covid-19 cancellation feature, allows brokers to build flexible, customised travel cover for clients.
News analysis: As the regulatory watchdog bares its teeth in its new business plan, are brokers ready to come to heel? Rachel Gordon investigates.
The industry was forced to cancel a raft of events including Glastonbury Festival, Boomtown and Womad after insurers backed away and the government dragged its feet on delivering alternative cover.
Brokers, insurers and industry experts discuss the main obstacles in attracting young talent and what the industry can do to solve its image problem.
Jackson Lee Underwriting's Dipesh Patel discusses how Covid-19 has highlighted the importance of using a broker and how brokers can help clients as international travel quotations pick up again.
As travel slowly starts to pick up again, Rachel Gordon investigates how specialist travel brokers have coped during the past 16 months of turmoil for this exclusive report.
It has been developed to protect the interests of Biba members and panellists include software houses.
The trade body was forced to cancel its conference last year and make redundancies but said that due to managing funds “cautiously” it was able to return a small surplus.
Biba has stated that the scheme offers comprehensive cover, including unlimited buildings cover and £80,000 of contents cover with a single unspecified item limit of £5,000.
The pandemic has changed the way many businesses percieve insurance, but, as Sam Barrett reports, brokers are ideally placed to help SMEs get the right covers in place going forward