| Practice area: | Finance | Regulatory economics |
|---|---|
| Client: | British Insurance Brokers’ Association |
| Published: | 1 May, 2025 |
| Keywords: | Economic analysis finance Regulation Survey |
London Economics recently undertook research, commissioned by the British Insurance Brokers’ Association (BIBA), on the cost of regulation in the insurance sector. The analysis, based on survey data collected from insurance companies and insurance brokers, found that regulatory costs amount to 5.2% of total premiums collected. This included 3.3% for insurance brokers and 1.9% for insurers, and the analysis covered personal and business products. The findings of this research highlight the potential opportunity for meaningful consumer benefits (in the form of reduced premiums), while maintaining the necessary protections, through streamlining the existing regulatory regime. A link to the BIBA press release can be found here.