Financial Conduct Authority (FCA)
Insurers wary of 'perverse' CMC behaviour following whiplash reforms
Insurers are concerned that whiplash reforms may result in claims management company “displacement”.
FCA Google Ad spending tops £2m in less than three years
A Freedom of Information request by Post has revealed that the Financial Conduct Authority spent over £240,000 on Google Ad words in the first four months of the year, taking the bill since 2019 over £2.1m.
A-Plan targets £1bn GWP within four years
A-Plan Group is aiming to break the £1bn gross written premium barrier within the next four years, CEO Carl Shuker told Post.
FCA warns Google and social media of legal action over scam adverts
The Financial Conduct Authority has warned social media companies that it will take legal action if they keep publishing scam adverts.
EY: motor market to return to loss in 2021; Canopius unveils algorithmic MGA; Kitsune sold to XS Direct
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
BGL’s Peter Thompson on why the insurance industry must batten down its hatches
Peter Thompson, CEO of insurance, distribution and outsourcing at BGL Group, addresses the crucial importance of operational resilience in a fast changing landscape for the industry.
Podcast: What impact will the FCA review of pricing practices have on insurers?
Insurance Post recently conducted a survey to get an overview on motor pricing trends and the impact the current economic climate has had on consumer behaviour.
Interview: Nick Turner, NFU Mutual
After a tricky year as Chartered Insurance Institute president Nick Turner has stepped up as NFU Mutual group CEO. He talks to Stephanie Denton about insuring the most dangerous profession in the UK, accepting the golden ticket and why constant movement…
Spotlight: Motor - How will data underpin the motor market’s response to new pricing practices?
With uncertainty regarding the new pricing, auto-renewal rules and reporting requirements for motor insurance, Martyn Mathews explains how data, a single customer view and renewal pricing strategies will become increasingly important
Spotlight: Motor – The future of pricing
Changing consumer behaviour, the economic climate and a review of pricing practices are some of the challenges facing the motor insurance sector currently. Our research looked in more depth at how these changes might impact the sector, its pricing and…
FCA price walking ban to go live in January
The Financial Conduct Authority has confirmed that its ban on price walking, intended to eliminate the so-called ‘loyalty penalty’, will come into effect on 1 January 2022.
Google lays out scam advert counter measures
Google has detailed the steps it is taking to protect consumers and legitimate businesses in the financial sector after research by Post revealed that brokers are being targeted by claims management companies.
Analysis: The broker problem with online claims adverts
Research by Post has revealed that brokers as well as insurers are being targeted by claims management companies seeking to take over motor claims via misleading advert urls online, particularly on mobile devices
Biba 2021: FCA’s Matt Brewis says BI claims payments could have been made quicker post-judgment
While acknowledging the complexity around Covid-19 business interruption claims, an FCA representative has said he believes payments could have been made quicker following the January test case judgment.
Broker and insurer FSCS levies still up despite forecasts being slashed
The Financial Services Compensation Scheme has issued final levies for 2021/22 of £73.8m for brokers and £189.8m for insurers, down significantly on initial estimates but still up on this year’s bills.
Biba 2021: Key takeaways from John Glen's appearance
John Glen MP, Economic Secretary to the Treasury, tackled insurance premium tax, broker Financial Services Compensation Scheme levies, cladding, Brexit and more in his keynote address to the British Insurance Brokers’ Association’s 2021 conference…
Biba Conference Special: Q&A with Steve White
Ahead of the British Insurance Brokers’ Association hosting its annual conference online for the first time ever, Post caught up with CEO Steve White to discuss what virtual attendees will see and hear about, the trade body’s ongoing lobbying and his…
RSA confirms takeover regulatory approval and posts best COR in a decade
The takeover by Intact and Tryg has cleared all the regulatory hurdles and should complete at the end of May, RSA confirmed as it posted a combined operating ratio of 86% for the first quarter of 2021.
FCA urged to speed up broker authorisations with approvals taking 121 days
A freedom of information request by Post to the Financial Conduct Authority has revealed the watchdog is taking an average of 129 days to make a decision on authorising firms applying for permission to trade as general insurance brokers selling non…
Spotlight: Claims - Selecting the right TPA partner
When it comes to working with a third-party administrator for property claims, how far should an insurer go? Whether it is taking on service from start to finish or only focusing on key elements such as the repairer network or emergency call out facility…
Blog: Legal expenses insurance in a post-reform world
Handl Group chief commercial officer Chris Chatterton considers the effect of whiplash reforms on legal expenses insurance.
FCA contacts 2800 firms about missing SMCR directory data
Experts have warned of the potential for fines and regulatory permissions being removed as the Financial Conduct Authority contacted 2800 firms about their directory persons information after the deadline for submissions passed on 31 March.
Blog: Gearing up for the FCA’s pricing reforms
Tony Tarquini, director of insurance EMEA for Pegasystems, considers the IT hurdles that insurers face in getting ready for pricing practises reforms – and why he believes they need to be ready to make rapid changes in the future.
FCA fees update: Key takeaways as regulator to hike fees by 5.2%
The Financial Conduct Authority has published its latest fees update, with a consultation set to run into May.