View from the top: GRP’s Duncan Carter on cooling down a political hot potato

Duncan Carter, CEO of retail at Global Risk Partners, warns that a ban on paying commission to property-managing agents could backfire for leaseholders.

The insurance industry is awaiting the imminent publication of new FCA rules governing broker commissions for leasehold property insurance following its consultation that closed on 9 June.

It is

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Broker earnings boosted by 11.3% in 2023

The value of the worldwide market for insurance broking in terms of fees and commissions earned was around $168bn (£132bn) in 2023, up from about $151bn in 2022 on a constant currency basis, according to research by Insuramore.

Rise of the AI-broker

Artificial Intelligence has many real-world applications and is already helping the insurance broking community in the US spend more time connecting with, listening to, and advising customers, says Chris Kitchener, vice president of product management for Applied Systems Europe.

Is insurer service really that bad?

News Editor View: After comments from Jensten’s Alistair Hardie earlier this week saying no insurer gets service right and that we should “rip up the service rule book and start again”, Scott McGee asks: Is it really that bad?

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