Addressing his first conference as CEO of the British Insurance Brokers’ Association, Graeme Trudgill told the audience at the two-day Manchester event that he wanted to drive positive change through co-operation. He called for regulatory stability and urged the industry to help close the protection gap through innovation.

He said: “Only a small portion of the economic risk faced by individuals and businesses is insured… as nothing moves without insurance, it is vital to close this protection gap.”

Trudgill said insurance broking was a low risk sector and that there was already overarching regulations in place to protect consumers. He called on the Financial Conduct Authority to, “allow us to breathe, to focus on clients and new innovations.”