Eric Galbraith, BIBA Chief Executive, said:

 “Within BIBA, including our London Market Brokers’ Committee (LMBC) and our General Insurance Brokers’ Committee (GIBC), there are no policy differences on our approach to any issue. 

“Specifically, on commission disclosure, BIBA and its LMBC has worked and continue to work together on a market solution in relation to the FSA’s discussion paper.

“Our position has remained unchanged over the last three years.  We believe that the current rules and principles are sufficient.”

“BIBA continues to lead the sector on a market solution and this is supported by our London Market Brokers’ Committee, the Institute of Insurance Brokers (IIB), and the Association of British Insurers (ABI).”

For more information please contact:

Leighann Burtrand

Communications Manager

020 7397 0223