‘Failing consumers’ – Gove gives Biba one month for commissions action plan
Government minister Michael Gove has given the British Insurance Brokers’ Association one month to drum up an action plan to address ‘completely unacceptable’ practices in the buildings’ insurance market.
In a letter sent last week to Biba CEO Steve White, Gove blasted Biba members for failing to change their behaviours on property commissions – despite previous warnings.
The Secretary of State for Levelling Up now wants detailed proposals from Biba within a month, drawing on consultation with its members, to ensure customers get fair value.
The letter comes at a time when the Financial Conduct Authority has published its report into the buildings insurance market, which found widespread
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