Biba Scotland: Uncertainty in the country

Graeme Trudgill, head of corporate affairs at the British Insurance Brokers’ Association (Biba), has listed the five “huge, huge” issues that brokers in Scotland could be faced with in the event of a 'yes' vote for independence.

Mr Trudgill, while not expressing an opinion for or against Scottish independence, told the audience at the Biba Scotland conference: "We think that a different regulator for Scotland could be a huge concern," before turning to potential complications on policy wordings, tax, currency and access to markets.

"The policy wordings [written] in English law could change with issues there," he cited, along with raising the topic of what a different tax regime would mean for insurance premium tax (IPT)