Financial Conduct Authority (FCA)
Insurtech saw ‘possible’ data breach earlier this year
Exclusive: Insurtech So-sure alerted its customers to a possible data breach in January.
This week: The end of the hard sell
When the regulator fined Carphone Warehouse £29m this week, the real target was the use of high pressure sales techniques in insurance.
Carphone Warehouse fined £29m for mobile insurance mis-selling
Carphone Warehouse has been fined £29m by the Financial Conduct Authority for mis-selling mobile phone insurance.
Analysis: Are the barriers too high for CMCs?
Claims management companies will see registration fees increase by 400% when they come under the regulation of the Financial Conduct Authority next month, prompting fears that smaller firms will move into unregulated areas.
Insurers to pay up to double compensation for FOS complaints
Insurers will have to pay more than double compensation to consumers and businesses who complain under the Financial Ombudsman Service.
This week in Post: Storm, Brexit and diversity
This week, the sunshine we were blessed with last week was replaced by a more winter-appropriate grey sky and rain.
Insurers warned not to use Brexit to ‘offload customers’
The regulator has issued a warning to insurance companies not to use Brexit as “an excuse to offload customers”.
LV's Mike Crane on dealing with changing customer expectations
Customers’ expectations are changing and they are demanding to be more informed. Mike Crane says insurers risk alienating customers if they don’t explain how and why they price risks
This week in Post: Sun, scams and Brexit
As we draw closer to the start of spring, the UK has seen unseasonably warm weather, with temperatures climbing into the double digits in recent days. But it’s not just the weather that’s heating up.
FCA gives wholesale broking market a clean bill of health
The Financial Conduct Authority has closed its market study of wholesale insurance brokers, saying it had “not found evidence of significant levels of harm that merit the introduction of intrusive remedies”.
FCA issues warning over clone broker
The Financial Conduct Authority has issued a warning over an unauthorised firm pretending to be Protect Your Bubble.
Insurance staff ‘stressed’ over weight of EU regulation
Insurers have issued a warning over the increasing toll that European Union regulation is having on employees.
Analysis: Tenancy deposits – tailored tenancies
Many tenants struggle to find a lump sum of money to put down for a deposit. Insurance instead of a deposit provides an alternative – offering tenants greater affordability and increasing security for landlords. It could also mean a welcome new class of…
Post launches new Reputation event focused on creating an ethical and inclusive insurance market
Those that work in insurance have long known it has reputation issues.
Insurers face Part VII transfer delays as Brexit looms
Exclusive: The government is mulling an extension to the deadline for insurers to get legal permission to move books of business from the UK to Europe.
Q&A: Luke Exford, CILA
Luke Exford has replaced John Evans as president of the Chartered Institute of Loss Adjusters. He spoke to Post about how the body maintains standards amid technological change.
This week: ‘Snow drama
Despite the buildup - amber warnings, train winter timetables, and inevitable delays getting to work - insurers will be grateful of today’s mere smattering of snow.
Insurtech diary: Trekking the glacier
In the last instalment in our insurtech series, Buzzgroup founder and CEO Becky Downing, reflects on the past 12 months and the story of Buzzvault’s launch.
Industry faces £10.5m bill from FCA claims data proposals
The regulator expects its claims reporting proposals to cost the industry between £7.5m and £10.5m in one off compliance costs.
FCA takes aim at general insurance ‘poor product value’
The city watchdog has launched a consultation to address potential 'poor product value' in general insurance.
Biba unveils manifesto priorities for 2019
The British Insurance Brokers’ Association has launched its manifesto – a list of campaigning priorities for the organisation for the coming year.
Blog: Model behaviour for insurance risk prediction - destroying the myth of the magic funnel
In a highly competitive market, it is important that insurers maximise their data models to create more intelligible insights. Only then, argues Alan O’Loughlin of Lexis Nexis Risk Solutions, will they gain a strategic advantage over competitors
Interview: James Heath, Forum of Insurance Lawyers
Late last year, James Heath was appointed the 23rd president of the Forum of Insurance Lawyers, succeeding Stephen Hines. He speaks to Post about the legal issues facing the industry.
FCA sets March deadline for CMC permissions
The Financial Conduct Authority has invited claims management to register for temporary permission to continue operating once the sector enters the financial regulator’s remit later this year.