FCA reveals financial resilience of brokers amid Covid-19
Survey shows that 43% of brokers used furlough scheme while 19% accessed other forms of government support when coronavirus pandemic hit.
Nearly half of brokers surveyed as part of the Financial Conduct Authority’s (FCA) poll into the financial resilience of firms believe that coronavirus will have a negative impact on their business model.
The results showed that 48.2% of respondents said the impact would be negative. A further 48.4% said there would be a neutral impact. Meanwhile 3.4% predicted a positive impact from the pandemic.
The FCA surveyed 23,000 solo-regulated firms and received responses from 3,370 insurance
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