Regulation

Could premium finance face Gap-like FCA action?

After the Financial Conduct Authority’s Matt Brewis labelled premium finance a “poor product”, Scott McGee examines if the industry has done enough to defend this method of paying for insurance or whether the regulator will soon feel forced to clamp down on the pricing practice.

Labour promises to rip up red tape for insurers

Tulip Siddiq, shadow economic secretary to HM Treasury, has promised if the Labour party gets into power she will make sure regulation encourages growth and competitiveness in the insurance industry.

Big Interview: Rachel Lam, ombudsman director, FOS

Rachel Lam, ombudsman director for insurance at the Financial Ombudsman Service, speaks exclusively to Insurance Post’s Editor Emma Ann Hughes about her work with providers and the Financial Conduct Authority to address the sector’s shortcomings.

FCA commission crackdown goes beyond flats

Editor’s View: The Financial Conduct Authority’s policy statement on multi-occupancy buildings insurance in September plus the decision to push the pause button on guaranteed asset protection insurance sales last week was “a shot across the bow” on…

MP highlights loophole in Leasehold Reform Bill

Matt Brewis, head of insurance for the Financial Conduct Authority, has appeared before a parliamentary committee to discuss the Leasehold and Freehold Reform Bill and been challenged by MPs over whether the current crop of rules ensure insurance costs…

Big Interview: Matt Brewis, FCA

Matt Brewis, the Financial Conduct Authority’s head of insurance, explains to Scott McGee why premium finance is a “poor product,” denies the watchdog is Miss Trunchbull-like, plus shares the regulator's plans for 2024.

FCA confirms further AR restrictions

Having previously placed restrictions on four insurance brokers feared to be failing to ensure appointed representatives comply with the regulator’s rules, the Financial Conduct Authority has confirmed three more sanctions.

FCA to clamp down on premium finance outliers in 2024

Briefing: The Financial Conduct Authority’s head of insurance Matt Brewis has labelled premium finance a “poor product”, and warned the regulator has “talked about it enough,” hinting at potential action surrounding the practice in the next 12 months.

KPMG’s Evans expects Consumer Duty to evolve in 2024

Former Association of British Insurers director general Huw Evans, who will replace Trevor Jones as head of insurance at KPMG in April, expects the Financial Conduct Authority’s Consumer Duty requirements will "evolve" next year.

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