A leading broker has spoken out against the Institute of Insurance Brokers' (IIB) opposition to Treasury plans for intermediaries to be regulated by the Financial Ombudsman Service (FOS).
IIB member Ian Mantel told Insurance Times he does not support the IIB's suggestion that the plans should be opposed through a judicial review.
Mantel said: "I believe the IIB should recognise that it is in it's members interests to have a stable, level regulatory regime.
"The IIB has done considerable good in the past, however over the past few years it has become too confrontational."
On Tuesday IIB director general Andrew Paddick warned that if the FOS were applied to general insurance products, the IIB should "pursue every legal remedy available" to thwart the plans.
