The Institute of Insurance Brokers (IIB) is challenging the FSA over its decision to include brokers in the Financial Services Compensation Scheme (FSCS).
IIB director general Andrew Paddick said that to date he has been told by the FSA that its board have made the rule and it would not be changed.
He has since written to Callum McCarthy, chairman of the FSA, asking him formerly to reassess the rule.
Paddick said that if this move failed, he would appeal, in turn, to the FSA's complaints commissioner and the Treasury.
He said he had not ruled out taking the matter all the way to judicial review, despite the costs involved in such a step.
"This is a crucial issue, which could save the industry countless millions," Paddick said.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
