Sessions kick-off in Newcastle
Biba will begin its UK-wide roadshow in June to help brokers understand industry guidance on transparency, disclosure and conflicts of interest in the commercial insurance sector. The industry-led solution was granted industry guidance status by the FSA last month.
Biba said the half-day sessions would help brokers make sure they were complying with FSA rules and principles on, for example, clients’ right to ask a broker what commission they are earning.
The first session on 1 June is in Newcastle. The programme moves on to Leeds, Liverpool, London, Bolton, Bristol, Birmingham, Bury St Edmunds and Nottingham with dates in Scotland and Belfast to be announced soon. The sessions will be delivered by Biba’s compliance initiative partners, Branko and RWA Compliance Services.
Steve White, Biba’s head of training and compliance, said: “The FSA has given the industry the chance to make the necessary changes it needs to the way it implements the rules. Industry guidance helps firms to provide greater clarity around the breadth of searching and the capacity in which a firm is working.”