Biba 2016: Biba urges industry to embrace the Insurance Act
Trade body launches implementation guide.
The British Insurance Brokers' Association (Biba) has called for the industry to embrace the underlying objective of fairness embedded in the Insurance Act 2015.
The Act comes into force on 12 August this year and will require brokers, their customers and insurers to adopt different operational processes for managing commercial insurance with the aim to encourage professionalism.
The trade body has created a definitive implementation guide for members to help them operate under the Act, in
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 Regulation
6% of FCA financial promotions cases caused by GI & Protection
The Financial Conduct Authority has revealed the general insurance and protection sector accounted for 6% of its workload in the final quarter of last year against firms breaching financial promotion rules.
FCA actions against misleading financial adverts nearly doubles in 2024
The Financial Conduct Authority intervened to get nearly 20,000 financial promotions withdrawn or amended in 2024, almost double the amount compared to 2023.
Lords Committee ‘unconvinced’ on FCA name and shame proposal
The House of Lords Financial Services Regulation Committee is unconvinced on the FCA’s name and shame plans as it branded the consultation an “abject failure” and urged if concerns have not been addressed in the regulator’s second consultation the proposals should not go ahead.
FCA issues restrictions on Scottish broker because of personal lines premium concerns
The Financial Conduct Authority has taken action to stop Arthur Temlett, trading as Abacus Insurance Consultants, from carrying out any regulated activities, including acting as an insurance broker.
Liiba seeks to quantify London brokers value to global economy
A trade body has launched a project to quantify the monetary value of London’s brokers to the global economy.
FCA targets 400 headcount as it continues Leeds office expansion
The Financial Conduct Authority has expanded its Leeds regional office, with 100 more people expected to join this year.
Economic Secretary Emma Reynolds supports calls for proportionate regulation
At the British Insurance Brokers’ Association manifesto launch Economic Secretary to the Treasury Emma Reynolds stated regulation “must be proportionate”.
Manifesto 2025: A ‘golden opportunity’, says Biba
The British Insurance Brokers’ Association has unveiled its 2025 Manifesto, titled ‘Partnering to deliver value’, labelling the year as a golden opportunity on regulation.