Financial Conduct Authority (FCA)
Charles Manchester on brokers using unrated insurers
Brokers are regulated by the Financial Conduct Authority, so they don't really come into contact with the Prudential Regulation Authority, which is primarily concerned with the soundness of insurers, ensuring protection for policyholders.
Aviva's Lindsey Rix on building trust and demystifying insurance
Let's be honest: insurance isn't the most exciting subject and it's often seen as a grudge purchase, something we have to have just in case the worst happens.
FCA sets deadline for PPI claims
The Financial Conduct Authority has put a deadline on payment protection insurance claims, bringing to a close a chapter that has cost firms billions in compensation.
CII joins professional bodies to form Chartered Body Alliance
The Chartered Insurance Institute has formed an alliance with two other chartered bodies in financial services.
This week: Personal injury, fundamental flaws and results
Personal injury took on a new meaning for me this week when I discovered a bruised ankle picked up during a recent paragliding adventure was actually a bad break.
Underwriters of Express Gifts will contribute to £12.5m FCA redress
Two firms that underwrote insurance that offered “little or no value” to customers, will contribute to a £12.5m redress.
FCA orders firm to reimburse 330,000 customers sold unnecessary insurance
The Financial Conduct Authority has ordered a direct mail order business with permission to sell general insurance products to pay £12.5m redress to approximately 330,000 customers.
FCA issues warning over unauthorised insurance firm
Consumers have been warned to be “especially wary” over an insurance company which may have been selling services without authorisation.
Ageas's Boisseau on the importance of using technology for transparency
Mis-selling of payment protection insurance has done little to help our industry and the issue of trust for insurance providers.
Post Power List 2017: Paul Geddes
CEO, Direct Line
Post Power List 2017: Andrew Bailey
CEO, Financial Conduct Authority
FCA launches consultation on handbook changes
The Financial Conduct Authority has launched a consultation paper on the handbook changes needed to reflect the new insurance linked securities regime.
Spotlight: Claims Assistance: Ignore at your peril
Dissatisfaction over clarity during the claims process has been highlighted by the recent Financial Conduct Authority review. What can the industry do to make the system work better?
Spotlight: Claims Assistance: Providing claims support
For SMEs, the delays inherent in complex claims can mean coming perilously close to insolvency. What can brokers do to support them through the process?
FCA: Consumers overpaying £108m a year in ‘poor value’ add-ons
The Financial Conduct Authority said customers may be overpaying £108m every year in insurance add-ons, with sometimes less than 10% of retail premiums for add-ons paid out in claims.
Biba calls on the FCA to address rising regulation costs
The British Insurance Brokers’ Association has called on the Financial Conduct Authority to address the cost of regulation on small brokerages.
Tailored policies and cyber set to influence market in 2017
Tailored insurance for new professions, cyber policies for SMEs, and the FCA’s consultation on the Financial Services Compensation Scheme are three key trends expected to influence the insurance market over 2017.
LV's Martin Milliner on how getting whiplash right could restore faith in insurance
Working with government, regulators and trade bodies to build public trust in insurance is a common aim of our profession and more important than ever when considering today's unnecessary claims culture.
Blog: What the SSP outage teaches brokers
Outsourcing to third-party applications can help streamline operations and cut costs; there are practical steps brokers can - and should - take to reduce the impact of a potential outage.
FCA admits its email system was 'spoofed'
The Financial Conduct Authority said it issued a fake email to its mailing list on Friday.
This week in Post: Unrated insurers and reasons to detox
The sallow, downbeat faces of my colleagues today can only mean one thing: it’s the morning after the staff Christmas party.
Previously unrated Elite assigned BBB- rating by Fitch
Previously unrated Elite Insurance has been assigned an IFS rating of BBB- by Fitch.
Industry 'concerned' over FSCS levy proposals
Trade bodies are concerned over the Financial Conduct Authority’s suggestions on Financial Services Compensation Scheme funding.
FSCS levy may rise for brokers that use unrated insurers
The financial services watchdog could make brokers that deal with unrated insurers pay a higher levy to the Financial Services Compensation Scheme.