Financial Conduct Authority (FCA)
Ferma 2013: Former EC Solvency II head questions 'twin peaks' regulator
The former head of Solvency II at the European Commission has called into question the creation of the UK’s ‘twin peaks’ regulatory system for matters relating to insurance.
Recruitment agencies accused of mis-selling insurance
Recruitment agencies came under fire after the BBC claimed they are mis-selling personal accident insurance to temporary workers.
PPI investigation uncovers serious complaints handling issues
The Financial Conduct Authority has referred an unnamed firm to its enforcement division following an investigation into payment protection insurance, which found serious problems with complaint handling decisions and communications to customers at the…
Lloyd's: The burden of regulation
Facing increasing scrutiny from the UK and Europe, Lloyd’s could be in danger of becoming less competitive. By Katie Marriner
Rivals set to take advantage of Swinton’s downsizing plans
Firm to close 100 of its 500 branches by end of 2014
Editor's comment: Don’t count your (fried) chickens
In my 10 years working on Post and with the insurance sector, I have lost count of the number of times the death knell has been sounded for the high-street broker.
Axa Wealth fined £1.8m over advice failures
Axa Wealth has been slapped with a £1.8m Financial Conduct Authority fine after the regulator found it failed to ensure it gave suitable investment advice to its customers.
Axa Wealth fined £1.8m in UK over advice failures
Axa Wealth has been slapped with a £1.8m Financial Conduct Authority fine after the UK regulator found it failed to ensure it gave suitable investment advice to its customers.
Solvent GI firms warned about PRA stance on schemes
Professional services giant KPMG has raised concerns that a draft supervisory statement issued by the Prudential Regulatory Authority suggests that the PRA no longer considers schemes an appropriate tool for solvent insurers.
DLG confirms involvement in FCA complaints handling review
Direct Line Group has confirmed it is one of the three firms from the general insurance sector to be involved in the Financial Conduct Authority’s thematic review on complaints handling.
FCA fine not to blame for profit slump as Swinton plots job cuts
Swinton has attributed changes to its sales practices following regulatory action over the mis-selling of add-on products to a drop in its annual turnover last year, which sunk to £301.4m from £329.1m in 2011.
Proposals to block broker deals with unrated insurers snubbed by the market
Reid told onus is on brokers to ensure passporting firms are 'financially sound'
Biba urges FCA to leave brokers out of complaints review and focus on insurers
DLG, Aviva and Allianz are top three GI firms in terms of number of complaints
FCA warns against policy from unlicensed New Zealand insurer
The Financial Conduct Authority has found a home insurance policy from an unlicensed New Zealand insurer has been sold to UK consumers through an authorised general insurance intermediary.
Three GI players in the frame as FCA launches complaints handling review
Three general insurance firms are implicated in the Financial Conduct Authority's latest thematic review into complaints handling at major firms.
FCA reveals it has never used private investigators
The Financial Conduct Authority has revealed it has never used private investigators.
Your say: Give brokers greater autonomy
Regulation is a good thing, but it must be proportionate and appropriate.
SME: On board the enterprise
The SME space is a key battleground for the future of the industry. But if SMEs can do business direct online, where does that leave brokers? By Mark Sands
Underwriters under pressure to secure facility deals to remain in London market
Lloyd’s underwriters have been warned they may have to secure facility deals with brokers in order to conduct business in the market in the future, despite a question mark remaining over whether these practices are anti-competitive.
Ethics: Do the right thing
The insurance industry may need a root and branch overhaul of its approach to ethics. But with claims that companies don’t actually understand the issue, the road to restoring trust is set to be rocky.
CPP boss brands £1.3bn pay-back ‘ridiculous’
CPP founder Hamish Ogston claims the £1.3bn compensation scheme for mis-sold credit card and identity theft insurance is "ridiculous".
Banks in £1.3bn insurance mis-selling pay-out scheme
The Financial Conduct Authority has reached an agreement with Card Protection Plan Limited and 13 high street banks and credit card issuers that will pave the way for redress to be paid to customers who were mis-sold CPP’s card protection and identity…
FCA denies review was sparked by broker’s remuneration issues
The Financial Conduct Authority has distanced itself from claims its thematic review into brokers’ conflicts of interest was triggered by an investigation into a broker that revealed issues with its remuneration practices.
Career development: CII launches new qualification
A new qualification has been launched by the Chartered Insurance Institute, with a view to offering flexible study routes for investment operations staff.