CII standards board
The CII has formed its first ever professional standards board.
It was due to be voted in yesterday with forthcoming president Bob Beckett one of its members.
The board is intended to ensure that professional standards have a focus point and that different professions within the industry are aware of each others' developments, a source said.
FOS in roadshows
The Financial Ombudsman Service (FOS) will hold a series of roadshows to allay broker concerns.
Brokers are worried about the cost of the service, as well as the potential for 'greenbacking' and spurious claims.
Some brokers also claim that FOS decisions tend to favour the complainant and are concerned about the cost of appeals.
"We are researching into the perceived tendency of the FOS to find for the complainants," said Biba chief executive Mike Williams.
The FOS will be extended to cover complaints about brokers from consumers and small businesses with turnover of less than £1m.
For more information about the roadshows visit: www.insurancetimes.co.uk
Trenwick MBO
Trenwick Managing Agents is expecting to finalise a management buy-out (MBO) from its US parent company imminently.
Market sources said that Trenwick's Lloyd's operation had this week "secured a deal" for an MBO.
