The tie that binds?

The pressure for brokers to adopt a 24-hour, seven-days-a-week service is mounting and this is where the Lloyd's binding authority may be able to ease the burden, says John Dutton.

With huge changes taking place in the broking sector, provincial
brokers whose income is threatened from several sides need to be
particularly adept at finding new ways to create revenue.


And not only that. The nature of customer demand is rapidly moving towards
a 24-hour, 365-days-a-year service culture. The insurance industry is
under pressure to adapt to customers demanding to transact business at
weekends and during the evening - if you feel it will not happen to you,
just look at the

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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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