BrokerFest 2021: Regulation bar will be ‘a lot higher’ for brokers selling to SMEs
Industry experts predict more regulation to be incoming around insurance for SMEs as the regulator wants these firms to be treated ‘like personal lines customers’
The FCA wants to treat SME businesses “like personal lines customers”, so regulation standards are “going to be a lot higher for people selling commercial policies to smaller organisations”, according to Phil Bayles, chief commercial officer at Ardonagh Advisory.
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