Financial Conduct Authority (FCA)
This week: Think! tech drive
With 50 years of drink driving campaigns drunk driving is shunned by society, but with technology taking over our lives it might be time for a distracted driving campaign to make using hands-free mobile devices on the move as frowned upon.
Industry body calls on government to protect vulnerable road users
The Association of Consumer Support Organisations has called on the government to match the Financial Conduct Authority in its approach to all types of vulnerable road user.
This month in Post: Insurtechs, results and discount rate
London seems strangely quiet in the summer, most people are away on holiday, and out of office replies are basically a given.
FCA sounds alarm over Instagram brokers
The Financial Conduct Authority has issued a warning over two brokers operating without a license via Instagram.
Half of insurance firms have not accessed FCA Brexit guidance
Half of general insurance firms have not accessed official guidance on Brexit preparations, a survey found.
This week: Rolling in it
Thursday seemed an appropriate day for insurtech Hippo to announce the outcome of its latest funding round – with temperatures reaching 38°C in places, the urge to emulate the mud-wallowing tendencies of its namesake animal became more and more tempting.
FCA flexes muscles over unauthorised claims firm
The Financial Conduct Authority has named a personal injury claims management company as operating without authorisation.
FCA announces crackdown over treatment of vulnerable customers
The regulator has vowed to “take action” against insurers that do not treat vulnerable customers fairly.
Money Supermarket clone site shut down
The Financial Conduct Authority has issued a warning about fraudsters operating a clone of price comparison website Money Supermarket.
Travel insurers must ‘signpost’ policies for vulnerable customers
Travel insurers will have to ‘signpost’ policies that have exclusions over pre-existing medical conditions.
Clone broker warning issued by FCA
The Financial Conduct Authority has warned of an unregulated clone broker operating in the UK.
Spanish private health body hits out at ‘possible systemic fraud’ in UK travel insurance
The Spanish Private Health Alliance hit out at “possible systemic fraud” committed by British insurers offering problematic medical cover within travel policies.
Top 0.2% of firms to pay 61% of next year's FSCS levy
110 financial services firms will pay 61% of the Financial Service Compensation Scheme’s levy in 2019/20, according to indicative numbers published by the compensation fund.
Scammers used UK General's name to target unwary consumers
A clone firm has been masquerading as UK General, the Financial Conduct Authority has warned.
Tulsi Naidu appointed chair of FCA practioner panel
Zurich UK CEO Tulsi Naidu has been appointed as chair of the Financial Conduct Authority’s practitioner panel.
ABI accuses consumer panel of 'overlooking practicalities' in dual pricing automatic upgrade recommendation
The Association of British Insurers has criticised a proposal from the Financial Services Consumer Panel for an automatic upgrade rule to tackle dual pricing, saying it “overlooks the practicalities of underwriting and product choice.”
CMA price cap proposals could put pressure on 'weak profitability' in insurance
A proposal by the Competition and Markets Authority to place targeted price caps could change pricing and marketing models and put pressure on profitability in the insurance sector, Fitch Ratings has warned.
Analysis: The future of pricing - Tightening the noose
The dual pricing noose is slowly tightening around the insurance industry’s neck. Its laudable attempts to escape from the regulatory hangman seem increasingly futile as the pressure is mounting on the Financial Conduct Authority to take action.
Analysis: The future of pricing - A responsible revolution
Change is hitting insurers at a much faster pace than ever before. Are they ready to keep up and able to re-establish some of the trust that has been lost?
Analysis: The future of pricing – Data and technology
Insurers are coming under increasing pressure to develop new ways of pricing. But, while data and technology hold the key, insurers face some significant challenges as they move to this brave new world.
FCA warns of unauthorised motor broker
An unauthorised car insurance broker has been targeting customers in the UK, the regulator has warned.
This week: Court's adjourned?
Arnold Schwarzenegger’s decapitated head kicked off its last outing on our television screens this week as the FCA counts down to the PPI deadline on 29 August. However, as one battle comes to an end, another may be just beginning.
Insurers could face fines under plans to tackle dual pricing 'rip-off'
The Competition and Markets Authority could be given the power to impose fines on companies in breach of consumer law without going to court, under government proposals announced today.