Brokers warned about potential for commission fee mis-selling scandal
Brokers could find themselves at the sharp end of the next mis-selling scandal owing to commission and administration fees distorting their recommendations, according to one industry entrepreneur.
Leigh Smart, the former Davis Group boss, who sold his business to Bluefin in 2007, has warned brokers that undisclosed commission and fee income could be the next big mis-selling scandal to hit the
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@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Broker
Why insurers and brokers must reinvent themselves for the green transition
View from the Top: Ian Picton, head of energy transition at Gallagher, says when it comes to the green transition, forward-thinking insurers remain scarce.
Throwback Thursday: Broker goes bust; Lloyd’s loss
Insurance Post’s Throwback Thursday steps back in time to January 1991 to remind you what was going on this week in insurance history when a broker went bust and Lloyd’s was less buoyant than it is now.
Intact launches regional broking proposition
Intact Insurance has launched 'Intact Trading', a regional broking proposition aimed at increasing the visibility of its underwriters.
Big Interview: Mark Allan, Ki
Mark Allan, CEO of Ki, tells Insurance Post how the firm has maintained its innovation culture as it scaled from a side of desk project to a standalone business writing over $1bn of premium, and reveals its opportunities to accelerate that growth in the future.
Ki offers tech stack to brokers
Ki is open to making its technology stack available to brokers developing their digital capabilities.
Why insurers should be forced to signpost customers properly
Editor’s View: The Association of British Insurers and British Insurance Brokers’ Association’s signposting commitment is a step forward, but Emma Ann Hughes fears without rules and enforcement too many vulnerable consumers will still be left without access to cover.
How are insurers enabling greener choices in construction?
View from the Top: Gemma Tait, head of construction for Europe, the Middle East and Africa at Willis, looks at the changing practices and novel products insurers are rolling out to help build a more sustainable construction sector.
Throwback Thursday: Record fire loss; Sedgwick buys broker
Insurance Post’s Throwback Thursday steps back in time to January 1991 to remind you what was going on this week in insurance history when fire claims surged and Sedgwick was buying a broker.