Brightside chief executive Arron Banks has called banning referral fees ‘unrealistic’, in an exclusive interview with Insurance Times.

Former Justice Secretary Jack Straw has led a campaign to ban referral fees, with support of MPs.

But Banks said: “It’s not realistic. If you ban referrals, insurers will move to profit-based models that mean they don’t have a referral fee but own their own law firm. I don’t see what the difference is. It’s a storm in a tea cup.”

Click here to read the full interview with Arron Banks.

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