Brokers Warn Of Impact From 'Avalanche' Of Regulation

By Martin Croucher (January 26, 2022, 3:22 PM GMT) -- Insurance brokers are increasingly closing or selling out to a larger buyer because of a growing regulatory burden, a trade body has said, as it warned of an "avalanche" of new rules and requirements.

The British Insurance Brokers Association said on Tuesday that a series of new rules introduced over the last two years by the Financial Conduct Authority is proving too costly for small companies to keep on top of. The trade association issued the warning in its annual manifesto, as it set out its lobbying objectives for the year ahead.

"The U.K. insurance broking market is one of the most...

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