Call for 'period of stability' for intermediary firms from FCA
The British Insurance Brokers Association (BIBA) last night launched its 2019 manifesto, section five of which focuses on access to insurance for people with disabilities and health conditions.
The manifesto, which also highlights the need to improve access to careers in insurance for people with disabilities, was outlined at a House of Commons reception hosted by Insurance APPG Craig Tracey, with BIBA chair Lord Hunt and city minister John Glen MP both mentioning the work of the Disability Champion Access To Insurance Working Group.
BIBA executive member Graeme Trudgill leads the Intermediary Engagement and Signposting work stream for the Working Group, overseen by DWP insurance sector champion Johhny Timpson of Scottish Widows.
"BIBA have a signposting to specialist adviser model for travel insurance that currently aids circa 500,000 plus consumers with disabilities and health conditions per year better access appropriate cover - our work stream is seeking to build and improve on this service, widening its scope to other forms of insurance, individual and workplace protection in particular, plus raising awareness of the service especially with the help of and via the new Single Financial Guidance Body," said Timpson.
Section three of the manifesto sees BIBA on behalf of intermediaries call for a ‘period of stability' from the Financial Conduct Authority (FCA) given the 150 or so consultations, discussion papers and new regulatory changes since the 2013.
About the BIBA Manifesto 2018, John Glen MP, the Economic Secretary to the Treasury said: "The UK's Insurance industry is among the best in the world, and I'm committed to ensuring it maintains this reputation. Insurance brokers are a crucial part of this industry, helping consumers and businesses find the most appropriate policies for them, whilst making a significant contribution to our economy. BIBA's Manifesto will ensure that this important area of insurance remains world-class."
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