Paddick claims the market is behind him

The Institute of Insurance Brokers is claiming 90% of UK insurance broking practices do not want to j...

The Institute of Insurance Brokers is claiming 90% of UK insurance broking practices do not want to join the General Insurance Standards Council.
The IIB has mailed every UK insurance broking practice, asking them whether they would like to retain a self-regulatory body or join the GISC. Over 1000 firms responded in the first 10 days and returns are still being received, but 91.9% of respondents to date voted in favour of being regulated by a new IIB non-statutory administration. This would

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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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