The Broker Network has welcomed Biba's call for the revised definitions of private and commercial customers under FSA regulation.

The Broking network warned that the FSA's suggested definition of private customers would require brokers to treat 90% of UK business as individuals.

Managing director Grant Ellis said: "This would place a significant burden on brokers. This is an area of real concern for many brokers, who may find themselves forced to withdraw from the sector."

"We welcome the news that Biba will be proposing alternative definitions for private and commercial customers."

The Broker Network told Insurance Times it now plans to assess a range of alternative definitions of private and commercial customers.

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