U.K. brokers call for no rise in insurance premium tax

The British Insurance Brokers' Association has called for the government to commit to no further increases to insurance premium tax and to negotiate for single market access in the EU exit, Xpirimm.com reports.
BIBA called for the government to negotiate for a minimum five year transition period and highlighted the need for a solution for EU workers in the U.K.'s insurance industry and U.K. insurance professionals working around Europe. 
BIBA also called for the Financial Conduct Authority to prioritize cost-effective supervision following a 70% increase in regulation costs for small insurance brokers.

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