IIB calls for a fundamental review of serious FOS and FSCS issues
The Institute of Insurance Brokers has responded to the Financial Services Authority’s latest consultation document on the subject of Compensation Scheme and Ombudsman Service Limits by calling for a number of serious issues to be properly addressed, rather than just consulting on possibly ‘tweaking’ the limits.
IIB Director General, Andrew Paddick maintains that an IFA or insurance broker could be faced with having to pay an award of £100,000 (which the FOS would like increasing to £200,000), for which heOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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