Market says farewell to IBRC.

When the Treasury announced it was abolishing the IBRC the onus was placed on the market to come up with an single, non-statutory alternative. Tim Collison reports on the progress.

Despite vociferous lobbying by the Institute of Insurance Brokers and
John Greenway MP, at the end of July the Treasury announced that the
Insurance Brokers Registration Act 1977 would be repealed and the
Insurance Brokers Registration Council scrapped. "A majority felt that the
best way forward was offered by self-regulation by a body having support
across the insurance industry," said Helen Liddell," Economic Secretary.
Just 10 minutes after making the announcement, Ms Liddell left the
Treasury