BIBA proposes benchmark cure for falling standards.

The British Insurance Brokers Association is planning to tackle the problem of falling insurer servi...

The British Insurance Brokers Association is planning to tackle the
problem of falling insurer service standards by drawing up a set of
industry-wide benchmarks by which brokers can judge companies.


To date, BIBA has spoken to Axa, CGU and Norwich Union about the concept
of benchmarking service in areas such as claims settlement and policy
documentation. Mike Williams, chief executive of BIBA, said all three BIBA
partnership members have agreed to the concept in principle.


The association has

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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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