The British Insurance Brokers' Association (Biba) has withdrawn its private medical insurance (PMI) scheme for members to remove a clause that handed all currently held business to its partner Jelf.
It was forced into the move after members discovered the terms of the introducer contract offered by Jelf included a clause which would pass all existing PMI business to the brokerage group. The Biba scheme was launched earlier this month to provide an inlet for brokers with little experience of the sector to cater for their client's PMI needs. However, clause three in the contract for intermediaries to join the Jelf supported scheme stated: "The introducer will transfer all their existing individual PMI business (excludes international policies) to Jelf. Jelf will deal directly with ...
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