Insurers win risk battle
Senior broking figures have hit out at the Financial Services Authority (FSA) following its decision...
Senior broking figures have hit out at the Financial Services Authority (FSA) following its decision to reject calls for the imposition of compulsory risk transfer (CRT). This move would have effectively formalised voluntary agreements whereby insurers pick up the tab should a broker go out of business.
Chris Blackham, managing director of Layton Blackham said he felt passionately that the FSA had got it wrong adding that, "the only ones to benefit from this are the insurers themselves".
The move
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 print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.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@insuranceage.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@insuranceage.co.uk
More on Broker
Brokers raised concerns to Biba on initial FCA ‘name and shame’ proposals
Brokers raised concerns to the British Insurance Brokers’ Association about the Financial Conduct Authority’s original transparency proposals, the trade body has confirmed to Insurance Age.
People Moves: 25 – 29 November 2024
Keep up to date with the latest insurance industry personnel moves.
How do brokers strengthen their proposition as an attractive employer?
Five takeaways from the RSA-sponsored personal lines roundtable at Broker Expo
Clegg Gifford to close offices due to Markerstudy duplications
Markerstudy is set to close some Clegg Gifford offices, but will maintain the branch footprint on the back of duplications following the Atlanta merger.
Car and motorcycle insurance complaints stick in FOS top five
The number of car and motorcycle insurance complaints to the Financial Ombudsman Service in the second quarter of 2024/25 dropped compared to the same period a year ago however the sector has remained in the top five.
Start-up broker partners with Shepherd Compello on motorsport insurance
Shepherd Compello has partnered with start-up Podium Insurance Brokers, a specialist motorsport broker.
Investments bring downward pressure on profits at Bridge for 2024
Bridge Insurance Brokers has reported a drop in profits for the year ended 31 March 2024 as turnover fell 3% year-on-year.
Analysis: Placement strategies – are brokers turning the tables?
What is driving brokers’ decisions on which markets they use? While once it was insurers holding the aces, it now appears the boot is on the other foot, finds Rachel Gordon