'Mandatory disclosure could still be forced upon brokers in the future', says IIB boss Bradshaw

The Institute of Insurance Brokers (IIB) is holding a series of broker forums for its members on Industry Guidance.

The forums are to be held throughout the UK during June and early July.

IIB chief executive, Barbara Bradshaw, said: “The FSA recently endorsed Industry Guidelines covering transparency, disclosure and conflicts of interest with the aim of improving the experience of commercial customers in terms of clarity, comparability and accessibility of information available to them. We believe that mandatory disclosure could still be forced upon brokers in the future, so it's essential they put in place the Industry Guidelines as quickly and effectively as possible.

“Our Broker Forums will tell members how the Industry Guidelines can give them a business opportunity rather than being perceived as a threat, as well as providing the opportunity for members to debate this and other topical issues.”

The Forums will also see the launch of the IIB's own guide on transparency which it claims sheds more light on the Industry Guidelines, outlines the issues and gives brokers practical pointers on effective implementation.