- The commission model ensures insurance customers can continue to access free regulated advice before purchase. This is essential in increasing resilience and offering value.
- We support a number of signposting agreements to help people access the insurance they need. Our Find Insurance Service is a vital component of this particularly for customers that are vulnerable or have unique needs – connecting them to a suitable insurance broker.
- With the Government focused on increasing the pace of remediation of buildings at risk of fire, there is an opportunity to highlight the lack of skilled professionals who are able to undertake the work and the role professional indemnity insurance plays within it.
- New secondary legislation which implements the Leasehold and Freehold Reform Act 2024, will ensure a level playing field, but must include broker commissions and fees within its definition of “permitted insurance payments”.
- The Gracechurch UK Insurers’ Monitor, and the UK Claims’ Monitor have led to significant improvements in the way insurance brokers view insurer service, but service quality still varies across the market. Future surveys will look at region-by-region service comparisons.
- Work with insurers on claims guidance and statements of fact, can ensure we minimise disputes and voided policies.
- Why fair value must be offered across all forms of distribution models, recognising the value to insurers of insurance brokers and their products.
- Highlighting how the gaps between insurance cover bought and what is actually needed – a protection gap – arise. Closing such gaps is essential to strengthening business resilience and to economic security.
- The Government’s Motor Insurance Taskforce offers a great vehicle to address the rising cost pressures in motor insurance and address the underlying factors collaboratively.
- Premium Finance is a vital product helping more people and businesses to access to the insurance they need It’s important such products are available.
- Insurance Premium Tax is a tax on working people and growth. Government should consider cutting it to encourage greater uptake of insurance and stimulate growth.