The regulator has noted concern that competition isn’t working well for all consumers in the house and motor markets but Tony Tarquini, director of insurance for Europe, the Middle East and Africa at Pegasystems, believes a ban on automatic price rises…
Andrew Bailey, CEO of the Financial Conduct Authority, will take over from Mark Carney as governor of the Bank of England in March.
The Financial Conduct Authority has issued a warning over an unauthorised firm pretending to be Speedy Insurance.
The Financial Conduct Authority has published a call for input on proposals for open finance, which it claims could be a long-term solution to dual pricing.
The Senior Managers and Certification Regime regulation focused on greater personal responsibility has come into force for senior broker managers, and businesses have a year to train all relevant staff on conduct rules.
For an industry that strives to understand and manage risk, uncertainty is not something that is relished. But with some market hardening, a final report from the Financial Conduct Authority on pricing practices and the possibility of Brexit all on the…
James Dalton, director of general insurance policy at the Association of British Insurers, reveals what the trade body will be focusing on next year and why.
ICO fines and enforcement action ‘significant and novel extension’ of regulatory powers: Eldon and Leave EU
Eldon Insurance and Leave EU fines totalling £105,000 and a data audit against the broker levelled by the Information Commissioner’s Office are “divorced from reality,” a tribunal heard yesterday.
The biggest opportunity for insurers to improve their performance is in relation to customer loyalty, which ranked above price as a decision driver when it comes to picking a provider, according to research by the Chartered Insurance Institute.
The Financial Conduct Authority issued 522 unauthorised firm warnings and an unconnected £227.3m in fines for the year up to March 2019, both signifying a jump.
Insurance is one of the sectors under the spotlight in a shared policy summary and joint consultation by the Financial Conduct Authority, Prudential Regulation Authority and the Bank of England on incoming requirements to strengthen operational…
Fitch has declared a negative outlook for insurers in the UK home and motor markets in 2020 citing high claims inflation and a weak pricing environment.
Average home insurance premiums have climbed at a rate higher than inflation over the past six months, Consumer Intelligence research has found.
It feels as if 2019 was an uncomfortable year for the general insurance market as it never quite seemed to grasp control of its own destiny. Wherever you look, carefully laid plans were derailed by the unexpected – and often unwanted – intervention of…
Insurers need to ditch standard practices like target times in contact centres and avoid unnecessary bureaucracy if they are to meet the needs of vulnerable customers, according to Direct Line Group managing director of claims Jessie Burrows.
The former CEO of a mutual insurer is looking at fines and a ban, following a joint investigation by the Financial Conduct Authority and Prudential Regulation Authority.
More than 800 houses have been evacuated due to flooding and many of those families won't be back in their home for Christmas. Flood warnings are still in place and there are reports that flood defence equipment is being stolen.
The regulatory agenda is always something of a concern to the independent non-executive director in the insurance market and keeping a close eye on the 2019 and 2020 plans from both the Financial Conduct Authority and Prudential Regulatory Authority is…
The insurance industry has reported mixed responses to reports of “shameful” behaviour by staff at the London offices of the Financial Conduct Authority.
Solicitors must declare the source of their claims leads, Aviva has challenged, as research shows a tiny fraction of nuisance calls have the legally-required customer consent.
Reserving has been reiterated as a key area of focus for the Prudential Regulation Authority, as the regulator suggested it could use its “formal powers” if insurance firms fail to meet standards.
Blog: What does Admiral’s move to consolidate its aggregator businesses as Penguin Portals say about the state of price comparison in 2019?
A week after Go Compare's parent re-financed, Admiral has consolidated its global aggregation businesses as Penguin Portals 'to realise its global growth ambition'. Post content director Jonathan Swift ponders if this signals a first step toward…
British Insurance Brokers' Association CEO Steve White ponders what proportionate regulation for insurance brokers should look like.
The FCA continues to be concerned about the problems faced by vulnerable customers. The regulator is expected to soon unveil a consultation to provide clarity on expectations of firms. Experienced claims handlers will play a key role in helping insurers…