I refer to your front page story "FSA: Brokers worse than expected" (News, 10 March) and the resulting correspondence from the 'small broker' community.

The truth is out. The regulation of the general insurance sector was pure and simply initiated to destroy the small broker, regardless of the rubbish spouted by [the FSA's] Andrew Honey. His letter confirms exactly the value of the small broker in this industry.

In fact, I will go further and state that without argument, we are the only sector of the market that has the time and relationship with our customers in order to operate in their best interests.

Another point in that article was that the FSA were worried about the continued misuse of client funds. Again, the small broker is the only sector of the market that is not in a position to misuse client funds.

Unlike the 'big players', all the insurers apply their minimum credit terms to the small broker and on many occasions the money is literally paid to the insurer before it is even in our account.

It is the insurers' fault for too readily giving the 'big players' open cheque books and at least 180-day credit terms that results in the temptation by this sector to misuse client funds.

Since the 14 January, I have done my research and have called the majority of the 'big players' in the market just to test how their procedures hold up to the new regulations. I highly recommend that the FSA also does this as it will be very surprised as to how many of them ignore the new 'rules'.

Name and address withheld