Biba responds to FSA forensic review on transparency

Eric Galbraith, Biba chief executive, said: “BIBA and its members have been fully involved in the forensic review, both with the market failure analysis and then on the cost-benefit side. These efforts have been recognised by the FSA, which has cited the potential costs as a major influence in their decision not to mandate disclosure at this stage.”

Galbraith added: “The commercial insurance market is now more transparent than ever before. The work undertaken by Biba in respect of managing

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