Insurance Times’ ‘Fair Fees: Brokers won’t pay for banks’ campaign calls on the FSA to give brokers a fairer deal by carrying out a fundamental review of its fees and levies.
We want the FSA to:
- Ring-fence professional insurance brokers from the rest of the financial services sector when establishing the new framework for the Financial Services Compensation Scheme
- Exclude the mis-selling of PPI from the compensation pot for professional brokers
- Ensure that brokers’ fees and levies are proportional to the risks they bear
- Protect professional insurance brokers from having to pick up the tab for the banking sector’s failures
- Go ahead with the review as soon as possible
Latest Fair Fees
Barclays PPI complaints jump 67% in H2 2011
Bank received 122,992 complaints in the second half of the year
PPI scandal costs Lloyds bankers their bonuses Subscription
Bank to claw back up to £2m in bonus pay-outs
Brokers welcome cut in ‘unfair’ FSCS levy, but say charges are still too highSubscription
FSCS’s 18% reduction in levy to £57m, believed to be because of a fall in size of payment protection insurance claims, comes after a tenfold hike over two years
FSCS plans levy hike after PPI claims soar
Insurers would pay more under proposed system but brokers’ bills would fall
PPI cases rocket Subscription
PPI accounts for half of all complaints to ombudsman, new statistics show
FOS plans £350-per-case PPI surchargeSubscription
Penalty will apply to companies with more than 25 cases
Galbraith tells insurers to take more responsibility Subscription
Sale of PPI products fuelled Financial Services Compensation Scheme explosion
Surge in PPI claims leaves brokers facing hike in levy Subscription
Ombudsman says 3,000 new complaints a week put FOS budget under pressure
Ceeney signals levy hike following PPI explosion Subscription
Number of payment protection cases increases to 3,000 per week
PPI complaints down 66%Subscription
Fair Fees: Stalled FSCS review to restart Subscription
GI complaints up 18%Subscription
Which? slams claims firms over PPISubscription
PPI complaints surge in first halfSubscription
PPI payments to disgruntled consumers surgeSubscription
PPI complaints quadruple year on yearSubscription
Barclays profits hit by PPI billSubscription
Santander sets aside 620m euros for PPI claimsSubscription
PPI provider leaves £50m of claims liabilitiesSubscription
Fair fees: Conduct watchdog to cost ‘extra £200m’Subscription
Fair fees: The clock is ticking …Subscription
FSCS faces £50m claim after Wilmslow failureSubscription
Fair Fees: TimelineSubscription
Tenfold rise in FSCS levy over two yearsSubscription
FSCS broker claims soarSubscription
PPI claims still rising, says FSCSSubscription
FSA scuppers hopes of 2012 levy resolutionSubscription
Biba submits FSCS reform petition to ParliamentSubscription
Fresh PPI broker goes bustSubscription
PPI complaints more than doubleSubscription
Biba 2011: Galbraith calls for the right regulationSubscription
FSCS levy hike alarm after banks reveal PPI exposureSubscription
6-12 May: The big ...Subscription
RBS sets aside £850m for PPI mis-sellingSubscription
No PPI mis-selling estimate from RBSSubscription
Bank PPI claims could reach £10bnSubscription
What Lloyds' PPI settlement means for brokersSubscription
Regulation News
'Where's Biba at the prime minister's table?'Subscription
Last week’s Downing Street summit may have a joint victory for insurers and government, but there was one glaring omission
‘Complacent’ Cameron under pressure to act as whiplash summit is heldSubscription
Medical panels, speed limits and financial thresholds set to top discussion agenda
'Keep friends close and enemies closer'Subscription
Be extra cautious because the FSA is on high alert, while insurers must make the most of gaining David Cameron’s ear
