IIB calls for FSCS review after 900% levy increase
The Institute of Insurance Brokers has presented research to the All Party Parliamentary Group on Insurance and Financial Services showing that brokers with an income of £500 000, £1m or £5m have seen their Financial Services Compensation Scheme fees increase by over 900% in three years.
Barbara Bradshaw, chief executive of the IIB, stated the trade body did not disagree with the existence of the compensation scheme but had "massive" concerns about how the funding was achieved and
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
Broker share prices tumble after ChatGPT insurance apps go live
Several broker share prices have fallen following OpenAI’s approval of apps offering personalised home insurance quotes for ChatGPT users.
Five cyber claims trends to watch in 2026
Brokers and lawyers have highlighted several key trends to watch out for in relation to cyber claims, speaking at an event held by law firm Stewarts last week.
Industry must break ‘reactionary dynamic’ with SME market
Current approaches to SME insurance are too reactive and cyclical, and are contributing to underinsurance, according to Markel UK managing director Lee Mooney.
FCA hits Markerstudy with growth restrictions
The Financial Conduct Authority and Markerstudy have agreed a cap on customer numbers for the insurance group while concerns raised by the regulator are addressed.
Marsh names Lisa Quest as UK CEO
Marsh has named Lisa Quest as its UK CEO, in addition to her current role as head of UK and Ireland at Oliver Wyman.
Diary of an Insurer: Marsh’s Kasia Lipinska
The working week of Kasia Lipinska, automotive and manufacturing industries leader at Marsh, is a whirlwind of cars, clients, and cyber plus supporting her wife with chemotherapy and daughters with their GCSEs.
Are insurers’ fair value data demands unfair to brokers?
Deputy Editor’s View: After the British Insurance Brokers’ Association once again highlighted the regulatory burden of fair value assessments, Scott McGee asks if insurers are asking too much, and if there is a resolution to the issue.
Lickens appointed Konsileo chair
Weeks after announcing his retirement, Howard Lickens has been named as the new chair of Konsileo.