Levy by the Financial Ombudsman on complaints tilts field against brokers
The cost to insurance brokers of having a consumer complaint investigated by the Financial Ombudsman Scheme could make it uneconomic to contest many smaller claims for compensation- no matter how unjustified - said insurance law firm, Reynolds Porter Chamberlain (RPC).
The FOS has just announced that it will charge a levy of £550 per case to insurance brokers for complaints investigated between 14 January 2005, when regulation of insurance brokers by the FSA startsOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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