Insurers wield unfair influence with the FSA
I write with regard to the Financial Services Authority rules on broker payments to third parties, i...
I write with regard to the Financial Services Authority rules on broker payments to third parties, i.e. underwriting agencies. I read with shock and absolute horror part three of the Guide to the FSA Handbook for Small Mortgage and Insur-ance Intermediaries for small brokers - particularly the section on client monies. It appears that, even when an end-broker has unquestionably paid an underwriting agency, if the agency fails to pay the insurer, the broker must pay again!
Civil law has always
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