FSCS to hit brokers with extra levy bill next month, warns Biba
Trade body also predicts 2019/20 levies will be higher.
The British Insurance Brokers’ Association (Biba) has warned that an extra Financial Services Compensation Scheme (FSCS) levy bill will be dropping through brokers’ letterboxes in early February.
The trade body underlined that the supplementary levy will be in addition to the annual FSCS levy.
Biba stated the call for cash was a result of the FSCS life and pensions sub-class breaching its limit.
Costs
Brokers have faced interim levies in the past but CEO Steve White highlighted this was the
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