Biba calls on Labour government to act on broker commissions and fees

Graeme Trudgill, CEO, Biba – 2024

The British Insurance Brokers’ Association has called on the new Labour government to introduce secondary legislation in relation to the Leasehold Reform Act to allow for broker commissions and fees to be deemed permitted insurance payments as they are now.

Biba congratulated the Labour Party, headed by Keir Starmer, on its 2024 election victory and committed to working with it them to tackle its manifesto issues, highlighting how insurance brokers can help with the important matter of managing risks for people and businesses.

Focusing on Labour-specific policies, Biba welcomed its commitment to introduce a Regulatory Innovation Office and will call on the party to continue the work of the previous government to enhance regulatory scrutiny in order

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

FCA trims broker fees hike to 9.3%

The Financial Conduct Authority has confirmed it is raising the financial contribution of the general insurance mediation fee block by 9.3% for 2024/25, down from its initial projection of a 9.8% increase.

Broking Success: Right opportunity

Matthew Collins, founder and managing director of Ascend Broking, targets growing from £14m to £50m gross written premiums in five years as the firm positions itself as a viable alternative to larger brokers.

Most read articles loading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: