Opinion: Fees but not as we’ve known them
Biba’s Steve White considers if regulators have gone too far in terms of the fees and levies they are asking for from insurance brokers
Regulation is necessary, of course it is. Consumers, in particular, need protection and confidence. When they buy financial products, be it loans, credit, investments or insurance, they deserve and expect to be sold them by competent, legitimate firms and they are entitled to some fall-back if things go wrong at the behest of the firm they trusted.
Biba has not been shy in talking about insurance broker regulation. The burden of regulation is something that keeps members awake at night from
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