Financial Conduct Authority (FCA)
Top 100 UK Insurers 2021
Covid-19 had the biggest impact on insurers in 2020. Commercial lines insurers suffered while personal lines insurers broadly benefited according to William Keen-Tomlinson, senior financial analyst in London for AM Best.
Rishi Sunak backs AR reform review in wake of Greensill
Chancellor of the Exchequer Rishi Sunak has backed a review of reforms to the appointed representatives regime in his response to a committee of MPs looking at Greensill Capital’s collapse.
Treasury committee seeks answers from big tech firms on economic crime
Treasury Select Committee chair Mel Stride MP has written to Google, Ebay, Facebook and Amazon with a series of questions relating to their policies and actions to combat economic crime, prevent fraud and protect consumers.
Blog: The villain of the piece - Insurers cannot bear the risk of ESG change alone
Insurers have the opportunity to help drive global change but they cannot do it alone, blogs Kennedys partner Fleur Rochester.
BGL’s Mark Townsend on why the biggest industry change will lead to new opportunities
Mark Townsend, managing director of motor and home at BGL Insurance, details how pricing regulation changes give the industry an exciting chance to prove it is customer centric, earn trust, and alter perceptions once and for all.
FCA reveals staff terms and conditions review
The Financial Conduct Authority is reviewing staff incentives across the organisation having scrapped bonuses for executives, CEO Nikhil Rathi has confirmed.
Trade bodies collaborate on product governance amid concerns of sluggish progress
Insurance industry trade bodies are working to agree templates for information sharing between firms to enable them to more easily come into line with the Financial Conduct Authority’s enhanced product governance rules.
Analysis: Commission in the crosshairs as FCA warns on product governance rules
The shift in the regulatory landscape could lead to “massive upheaval” experts have warned as brokers have been urged to engage with the process amid fears that the scope of fair value changes has not been understood.
FCA commits to swift change for listing regime 'still stuck in 1984'
The current listing regime is 'stuck in 1984', a Financial Conduct Authority official said as they forecast some changes by the end of the year.
FCA pricing review shifts insurers' attitude to insurtechs, says Urban Jungle CEO
The introduction of the Financial Conduct Authority’s pricing review has shifted attitudes to insurtechs and is leading to insurers competing to work with them, according to Urban Jungle CEO Jimmy Williams.
Intelligence: A question of diversity
Studies have shown diverse management teams achieve higher revenues due to innovation and discrimination claims can be costly. As the Dive In festival kicks off at Lloyd's and around the world, Edmund Tirbutt investigates if the insurance industry is…
Covid BI claims payouts top £1bn
Insurers have paid out over £1bn in business interruption claims, according to the latest data released by the Financial Conduct Authority.
Analysis: Trust and the whiplash portal
A survey commissioned by Post found that people are not confident in the whiplash portal, with a number of claimants turning to claims management companies and solicitors for help in completing the claim.
Intelligence: Pepping up the primary markets
The Financial Conduct Authority is currently consulting on proposals to encourage young, fast-growing firms to seek a public listing at an earlier stage in their development. Edward Murray investigates if this will give a boost to the insurance sector,…
Analysis: Business interruption late payment claims a 'live issue'
Insurers could still face claims for damages relating to the late payment of Covid-19 business interruption claims under an as yet untested part of the law, according to lawyers.
Last chance to decide Industry Impact winner at 2021 British Insurance Awards
The voting is open for you to decide who should win the Industry Impact Award at tomorrow’s British Insurance Awards. But be quick as the poll closes at noon tomorrow.
FCA warns public about broker Professional Construction Risks
The Financial Conduct Authority has warned consumers not to do business with Weston-super-Mare broker Professional Construction Risks Limited or any of its representatives.
FCA fires fair value warning shot
The Financial Conduct Authority has raised concerns that some insurers and intermediaries are showing slow progress in making sure products meet customer needs.
Trade Voice: Mass chair Paul Nicholls on why an ineffective Official Injury Claim portal is good for no-one
Paul Nicholls, chair of the Motor Accident Solicitors Society and senior partner at Nicholls Brimble Bhol, looks at the teething pains around the new Official Injury Claim portal and what needs to be done to ensure justice and fair compensation for…
Blog: The market has strengthened in the face of pandemic claims challenges
Claims teams must be proactive coming out of the pandemic to ensure lessons learned are not lost, posits Markel UK claims and legal services director Richard Napoli.
FCA yet to fully investigate more than half of Covid whistleblowers’ reports
Exclusive: The Financial Conduct Authority has yet to close investigations into more than half of the reports made by Covid whistleblowers in the first year of the pandemic, with general insurance businesses among firms that have faced allegations.
Intelligence: Responsible AI
With great power comes great responsibility and for insurers this is never going to be truer than when dealing with artificial intelligence. Post looks into how insurers are using AI ethically.
The future of pricing - how can insurers use data and technology to remain competitive?
Insurance organisations need to develop new ways of pricing if they want to remain competitive in today’s market. But whilst data enables insurers to make the most informed pricing decisions; governing and processing this data across siloed databases and…