Trade body working with Biba on industry guidance
The ABI has responding to today’s statement by the FSA on commission disclosure in the commercial insurance market
Nick Starling, the ABI’s director of general insurance and health, said: “The ABI supports a transparent system of commission disclosure to help commercial customers make informed decisions about their insurance requirements. We are working closely with our members and the British Insurance Brokers’ Association to develop industry guidelines to further improve transparency on commission levels earned by intermediaries, the nature of the service they provide, and their relationships with insurers. This guidance will be issued early in 2009.”
