Steven Swift admits to being a new recruit to insurance broking, and his comments clearly highlight a lack of experience or knowledge of the complexities of the market. While I have no problem with commission disclosure, perhaps someone could explain what benefits, apart from appeasement of the consumer protection lobby, disclosure will have to the policyholder? Does anyone seriously believe that, in the commercial market, commission disclosure will actually reduce the cost to the consumer - of course not.

In my specialist line of business, risks can pass through several "underwriting agencies" or brokers before reaching the insured. So under the new regime, each one adds on a fee.

Biba's Mike Williams has presented to the steering committee a case which actually passed through 20 different agencies before reaching the insured - not unusual in the London Market. Disclosure is fine with uncomplicated personal lines business, but is simply not suited to the more complex commercial lines risks.

Paul Hudson