Financial Conduct Authority (FCA)
SME: On board the enterprise
The SME space is a key battleground for the future of the industry. But if SMEs can do business direct online, where does that leave brokers? By Mark Sands
Underwriters under pressure to secure facility deals to remain in London market
Lloyd’s underwriters have been warned they may have to secure facility deals with brokers in order to conduct business in the market in the future, despite a question mark remaining over whether these practices are anti-competitive.
Ethics: Do the right thing
The insurance industry may need a root and branch overhaul of its approach to ethics. But with claims that companies don’t actually understand the issue, the road to restoring trust is set to be rocky.
CPP boss brands £1.3bn pay-back ‘ridiculous’
CPP founder Hamish Ogston claims the £1.3bn compensation scheme for mis-sold credit card and identity theft insurance is "ridiculous".
Banks in £1.3bn insurance mis-selling pay-out scheme
The Financial Conduct Authority has reached an agreement with Card Protection Plan Limited and 13 high street banks and credit card issuers that will pave the way for redress to be paid to customers who were mis-sold CPP’s card protection and identity…
FCA denies review was sparked by broker’s remuneration issues
The Financial Conduct Authority has distanced itself from claims its thematic review into brokers’ conflicts of interest was triggered by an investigation into a broker that revealed issues with its remuneration practices.
Career development: CII launches new qualification
A new qualification has been launched by the Chartered Insurance Institute, with a view to offering flexible study routes for investment operations staff.
UK regulator warns on Axa clone
The Financial Conduct Authority has warned that a firm branding itself as Axa Isle of Man Limited has no ties with the French insurer.
FCA warns on Axa clone
The Financial Conduct Authority has warned that a firm branding itself as Axa Isle of Man Limited has no ties with the French insurer.
Andy Briscoe appointed chairman of Money Advice Service
Andy Briscoe, chairman of general insurance intermediary The Policy Shop, has been appointed chair of the Money Advice Service.
Insurers insist they have nothing to hide after ‘self serving’ legal campaign
Law Society says claimants accepting early offers are being ‘mugged’.
Interview: Biba's Steve White: Bold beginnings
From ‘shouting’ at the regulator to outlining a new segmentation strategy, new Biba chief executive Steve White has already ruffled more than a few feathers in his first 100 days in the hot seat. He tells Post he’s started as he means to go on...
FCA will act on 'competition mandate' Wheatley warns
The Financial Conduct Authority’s plan to drive effective competition in all financial services markets is the biggest break with the old regime, chief executive Martin Wheatley said today.
FCA puts competition at the heart of new regime
Ensuring that there is effective competition in financial services markets is the most significant change to the Financial Conduct Authority’s new regulatory regime, chief executive Martin Wheatley said today.
More brokers face fines over add-ons after Swinton pays £7.4m penalty
Analyst blames drop in Esure’s profit expectations on bundled add-ons.
In Series: Claims: A moral dilemma
The industry is split over the ethics of subrogation. Will Competition Commission intervention resolve the situation once and for all, or can insurers find their own solution through bilateral agreements?
Interview: David Walsh: The artist
After 14 years building CFC Underwriting from a dotcom start-up to a successful MGA, founder and managing director David Walsh now sees the global market as his canvas.
FCA bans and fines broker £140 000
The Financial Conduct Authority has imposed a £140 000 fine on Paul Cable, of Bromley, Kent, and banned the broker from working in the financial services industry in the future.
Brokers should review their processes following Swinton fine, says UKGI
UK General's compliance arm UKGI has called for brokers to review their process and internal policies in the light of Swinton’s £7.4m fine by the Financial Conduct Authority.
Lloyd’s renews deal with FCA to avoid regulatory duplication
Lloyd’s of London has renewed an agreement originally signed with the Financial Services Authority in a bid to avoid duplicating regulation.
Vision 2020: Full steam ahead
Despite the report fading from memory, the insurance industry is still on track when it comes to achieving Vision 2020’s key aim to progress the industry
FCA fines Swinton £7.4m for mis-selling add-ons
The Financial Conduct Authority has fined Swinton almost £7.4m for the mis-selling of add-ons.
FSA bosses Sants and Turner paid £0.5m for gardening leave
The Financial Services Authority paid its former chief executive Hector Sants and chairman Adair Turner a total of £552 178 in compensation for being unable to take on another financial services role.
Add-on investigation highlights data opportunity: Sas
The enquiry into the selling of add-on products should prompt insurers and brokers to better utilise data in offering products to consumers according to Sas head of insurance Martyn Kyle.