Teaming up with... AVIVA

Welcome to the UKGI weekly regulation update service for Aviva ABC brokers

We hope you find the Updates useful. If you are
interested in subscribing to our affordable
ABC compliance support package, please
email us at ABC@ukgigroup.com or
call UKGI on our dedicated ABC
contact line 01925 767893.

BIBA CEO calls for ‘allyship, innovation and regulatory stability’ in his first BIBA conference address

Link(s):Graeme Trudgill’s Opening Address at The BIBA Conference 2024
GRAEME-TRUDGILL-BIBA-CONFERENCE.pdf

Context

BIBA has published details of CEO Graeme Trudgill’s first BIBA Conference opening address, in which Trudgill outlined his vision of co-operation and allyship to drive positive change across the industry.  He also called for a period of regulatory stability and for the industry to help close the protection gap through innovation.

Trudgill took the opportunity to remind the FCA that insurance broking is a low-risk sector and called on the FCA to give the sector a period of stability.  He expressed his view that it is not right that small brokers are having to sell up due to the influx of new and demanding regulation.  He told the regulator that the Consumer Duty is an overarching piece of regulation and asked the regulator to allow the sector to “breathe, to focus on clients and new innovations.”