The British Insurance Brokers’ Association has urged the Government to bring forward legislation to ban the sharing of commission with property managing agents, freeholders and landlords to create a ‘level playing field and avoid an early mover penalty’.
It’s CEO Steve White also acknowledged a “remedy lies with [its] members” with regards the quality and accuracy of the fair value assessments in the multi-occupancy buildings insurance market and it would be publishing guidance on best practice.
These have all been outlined in a letter to The Rt Hon Michael Gove MP Secretary of State for Levelling Up, Housing & Communities following his own communication to Biba about broker remuneration in light of the Financial Conduct Authority’s report last
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