Biba progresses in push for IMD harmonisation

The British Insurance Brokers' Association (Biba) will meet with the European Commission's (EC) seni...

The British Insurance Brokers' Association (Biba) will meet with the European Commission's (EC) senior team overseeing the Insurance Mediation Directive (IMD) to discuss objectives for a review of the regulatory rules, taking place later this year.

The EC will aim to simplify the directive governing insurance broking standards in the EU to facilitate broker transactions across borders.

Biba said it would meet with the team in Brussels to push for maximum harmonisation of the IMD, which would

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FSCS gives first insight on increasing levy to £394m

The Financial Services Compensation Scheme has indicated its levy for 2025/26 will rise to £394m from £265m this financial year as it cited having lower surpluses to carry forward and offset bills – a factor that has benefited brokers for two years in a row.

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