BIBA supporting targeted regulation of insurance comparison sites

The broker trade body has submitted a formal response to the FSA proposed guidance: ‘Selling of general insurance policies through price comparison websites'. BIBA noted that comparison sites are relatively new and avoided specifically targeted regulation because FSA rules were written before they gained wide market penetration. Graeme Trudgill, BIBA's Head of Corporate Affairs, said comparison sites had primary involvement in the sale process and needed appropriate regulatory guidelines in place. He added: "BIBA agrees in full with the draft FSA guidelines and is keen to co-operat...