Insurers and brokers to get pre-regulation help

Launched by the Association of British Insurers (ABI), the British Insurance Brokers' Association (BIBA) and the Institute of Insurance Brokers (IIB), it has been set up to create a framework for both insurers and brokers in the hope it will help them deal with the transition period leading up to regulation. When the Insurance Mediation Directive comes into force in January next year, insurance intermediaries will effectively have to have a written agency agreement with the firms they represent. This means the insurance industry will have review and change many Terms of Business Agreeme...