IIB warns against non-advised sales in general insurance

The Institute of Insurance Brokers has levied an attack on banks and major financial services retailers saying that they have 'unduly influenced' the FSA in the polarisation debate and that the regulator must consider the point of sales consequences of general insurance to consumers. "The banks and major retailers want multiple-product non-advised sales, because it has far more to do with their bottom line profit than customer care," said the IIB, in its response to the consultation paper 160 on general insurance regulation. The IIB argues that non-advised sales are not working i...