Biba: Insurers and regulators must take more responsibility

Its call came in the wake of the payment protection insurance (PPI) mis-selling scandal which sees many advisers potentially on the hook for practices they took no part in. Regulators were also targeted and urged to be far quicker in spotting problems and taking action on major problem areas. Speaking at the parliamentary reception marking the merger of Biba and the Institute of Insurance Brokers (IIB), Eric Galbraith, chief executive of Biba, noted concerns that government and regulators appeared to regard the insurance sector as part of the financial crisis. However, Galbraith's ...