Financial Conduct Authority (FCA)
Interview: David Rule, Prudential Regulation Authority
With Brexit, increased scrutiny over reserves, climate change and emerging risks on the ‘watch’ list for 2019 The Prudential Regulation Authority certainly has a lot on its plate. Its executive director for insurance, David Rule spoke to Stephanie Denton…
Analysis: Jumping into 2019
2019 is sure to be mostly about Brexit but, as Sam Barrett explains, there will be other challenges and opportunities for insurers as well
CMA unveils raft of recommended reforms as insurance slammed over pricing practices
The Competition and Markets Authority has ‘uncovered a range of problems’ around the loyalty penalty and made several recommendations for change in its damning response to a super complaint on pricing practices, but some feel that insurers are catching…
GRP’s Craig Pocock on SMCR
GRP’s chief people officer Craig Pocock explains why it’s important for brokers to plan for the new Senior Managers and Certification Regime.
Analysis: The Arron Banks show
No stranger to controversy, Arron Banks is back in the news and under the spotlight with allegations and appeals
Broker in liquidation Larksway has FCA authorisation pulled
Broker Larksway, which is currently in liquidation, has had its Financial Conduct Authority authorisation removed after the regulator alleged it failed to comply with a Financial Ombudsman Service ruling.
Roundtable: Dual pricing and loyalty
Loyal customers have long felt penalised by dual pricing. As the regulator and the government are promising to stop the practice, insurers discussed how to move the focus away from premiums to build stronger loyalty, at a roundtable organised by Post, in…
Analysis: Review of 2018
The spectre of Brexit loomed large over the insurance sector this year, and although the picture is still no clearer in terms of how the UK market will continue to trade with Europe after 29 March 2019, significant merger & acquisition activity was among…
FSCS mulls raising levies on brokers using unrated
Exclusive: Brokers that continue to use unrated capacity, despite the collapse of insurers like Alpha and Gable, could pay higher levies to the Financial Services Compensation Scheme next year.
Blog: And the next CEO is…?
There continues to be change at the top of the UK's insurer board rooms. But instead of relying on the tried and tested recruitment strategies of the past, Consumer Intelligence's Ian Hughes suggests a more meaningful strategy to get the most out of your…
Mike Brockman reveals plans for ‘next generation’ telematics
In his 38th year in the motor insurance market, former Insure the Box CEO Mike Brockman has global plans for his new “revolutionary” telematics and dash cam device. He met Post to reveal how Thingco’s ‘Theo’ works and how he’s determined to bring…
Week in Post: Spotlight falls on Banks
The spotlight has been on Arron Banks this week but we've also seen some major business acquisitions.
The ABI's James Dalton on the FCA market study into pricing practices
The Citizens' Advice super complaint has highlighted that insurers needs to do more to serve existing customers, but James Dalton, director of general insurance policy at the Association of British Insurers believes its important to stress that the…
This month: Cavities and complaints
As whiplash legislation speeds through parliament, claims management companies have increasingly been looking into other avenues to keep the coffers full and cavity wall insulation claims have spiked. CMCs may be the industry’s own bugbear, but this…
Analysis: Are cavity wall insulation claims the new PPI?
Insurers are seeing a spike in people claiming improper installation of cavity wall insulation. Is this the new money spinner for CMCs?
Pricing practice changes would put the onus on insurers to charge a 'fair price'
Large insurers with big books of home insurance business could lose out following pricing practices review, but profitability is unlikely to be "heavily dented", ratings agency says.
Insurers may be guilty of price discrimination, finds FCA
Insurers may not have sufficient oversight of pricing practices, which could mean some customers are paying significantly higher premiums than those who have similar risk profiles, according to an official review.
Editor's comment: Only yourselves to blame
Over the past two-and-a-half years, I have written in this column no less than three articles urging insurers to act on the problem of dual pricing.
Travel sickness CMC activity 'should be regulated by the FCA'
Claims management companies who deal with travel sickness should be included in upcoming Financial Conduct Authority regulation of the sector, warn experts.
Liberty Mutual slapped with £5.2m fine for claims and complaints handling failings
Liberty Mutual has been fined £5.2m over its botched handling of mobile phone insurance claims and complaints.
Financial services complaints jump above four million
The number of consumer complaints reported by financial services firms has risen 10% since the second half of 2017.
Analysis: The dual pricing super complaint
Citizens Advice has launched a super complaint targeting dual pricing to the Competition and Markets Authority. The complaint is the consumer champion’s first in seven years and shines a spotlight on five key areas: home insurance, mobile, broadband,…
Insurance Association of China to visit London as deregulation looms
Exclusive: Delegates from the Insurance Association of China will visit the UK on Friday, in the run up to regulatory shifts in the country.
PPI complaints jump almost two thirds following £4.9m Arnie-fronted campaign
Consumers have netted a collective £3.7bn since the Financial Conduct Authority began running its Arnold Schwarzenegger-fronted payment protection insurance refund campaign.