Lorega is having its partnership with the British Insurance Brokers' Association (BBA) renewed.

The claims service advocate has refreshed it loss recovery insurance product well enough for the BBA to announce an extension to its contract with them.

Improved features, such as a new banding system that lowers and simplifies cost-rating systems, have been introduced.

Another development is the enhanced commission rates of up to 40 per cent, which are now available.

Lorega's chief executive, John Sims, told Insurance times online: "With brokers facing ever increasing competition the time was right to review our proposition to help BIBA members stay ahead, especially in the event of a claim."

Eric Galbraith, from BIBA, told the Times, the body had always been "very supportive" of the tie up with Lorega and the scheme was compliant with the Financial Services Authority's (FSA) Treating Customers Fairly initiative.

In related news, the FSA is also in consultation with the insurance industry on how best to proceed regarding its regulation of general practices.

The Retail Distribution Review (RDR) due to be completed in 2008, is intended to better understand the causes of the current market inefficiencies and come up with solutions.

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