Financial services regulators have formed a working group to collaborate on tackling ‘phoenixing’ in the sector, whereby companies or individuals avoid liabilities or penalties by shutting down businesses only to re-emerge as new legal entities.
Despite a number of technological revolutions, general insurance hasn’t altered much since it was first conceived centuries ago in City of London coffee shops. You Do Pet founder Paul Dennis argues 'claim sharing' might be about to change that.
As we head towards a welcome four-day weekend, the insurance world has been getting in the spirit for Easter in the only natural way: smashing chocolate eggs.
The Financial Conduct Authority has set out its priorities for the year ahead in its 2019/20 business plan, identifying Brexit as its “immediate priority”.
As insurers are likely to appoint a loss adjuster when acting on a claim, customers making large claims may wish to employ a loss assessor to represent their interests. How well are these relationships currently working?
Gift cards may not be very personal, but they are perfect when you are not sure what to get someone. However, if you are anything like me you put them away in a “safe” place and forget to use them in time.
Citizens Advice is calling for the FCA to identify concrete solutions to the loyalty penalty as part of its insurance market study, after its research found that 100% of home insurance profits come from loyal customers.
Insurers are unlikely to get a profit boost from a reduction in fraudulent claims and are instead expected to use savings to keep premiums down amid surging average claim sizes, according to Fitch Ratings.
The Financial Conduct Authority has warned general insurance firms that it "will not hesitate to intervene" if firms fail to meet their obligations to customers.
The penetration of premium finance into the SME market has been stuck stubbornly in the 40% to 45% range for many years. Could that be about to change as slicker offerings from the main providers and new entrants hit the market just at a time when small…
Biba supports FCA’s multi-lateral approach to signposting service for people with pre-existing medical conditions
The British Insurance Brokers’ Association believes it ‘has a significant role to play’ in the Financial Conduct Authority’s approach to signposting initiative.
Our cover interview for April features Amanda Blanc’s move from Axa to Zurich which was perhaps the most talked about people move of 2018. The Association of British Insurers' chair spoke to Jen Frost about her plans for the business in the coming year.
My son is learning about healthy living at school and a recent exercise sent home was to spend a day eating according to the Eatwell Guide.
The Financial Conduct Authority now oversees regulation for claims management companies in England, Scotland and Wales.
Claims management companies come under the regulation of the Financial Conduct Authority today, but do the high barriers for entry threaten to create unintended consequences?
What’s fueling motor insurance today? Michele Bacchus talks to the industry and gives the low-down on what’s heading down the highway towards insurers in both the fast and slow lanes
Exclusive: Insurtech So-sure alerted its customers to a possible data breach in January.
When the regulator fined Carphone Warehouse £29m this week, the real target was the use of high pressure sales techniques in insurance.
Carphone Warehouse has been fined £29m by the Financial Conduct Authority for mis-selling mobile phone insurance.
Claims management companies will see registration fees increase by 400% when they come under the regulation of the Financial Conduct Authority next month, prompting fears that smaller firms will move into unregulated areas.
Insurers will have to pay more than double compensation to consumers and businesses who complain under the Financial Ombudsman Service.
This week, the sunshine we were blessed with last week was replaced by a more winter-appropriate grey sky and rain.
The regulator has issued a warning to insurance companies not to use Brexit as “an excuse to offload customers”.
Customers’ expectations are changing and they are demanding to be more informed. Mike Crane says insurers risk alienating customers if they don’t explain how and why they price risks