Financial Conduct Authority (FCA)
Lack of AR oversight putting customers at risk, FCA warns
Insurance companies may be putting customers at risk by not undertaking sufficient due diligence on their appointed representatives.
Insurers hit out at FSCS consultation
The Association of British Insurers has hit back at proposals from the Financial Conduct Authority that insurers contribute towards costs of intermediary failure under the Financial Services Compensation Scheme
FCA sees 3.32 million financial services complaints in H1
The Financial Conduct Authority received 3.32 million complaints about financial services in the first six months of 2017.
FCA paid £4.9m in production costs on Schwarzenegger PPI advert
Exclusive: The Financial Conduct Authority spent £4.9m in production costs on a TV advert featuring the robotic head of Arnold Schwarzenegger.
M&S Insurance corrects renewal letter to remind customers to shop around
Exclusive: M&S has contacted its general insurance customers to remind them that they can shop around for cheaper insurance, following the introduction of renewal transparency laws.
Police investigating fraud allegation following closure of Ipswich broker
Exclusive: Police are understood to be investigating an allegation of fraud, following broker Ignition Select entering administration.
Government stands by level of broker regulation
The government has stood by the level of regulation levied on non-life insurance brokers in the UK.
Interview: Wrisk co-founder Nigel Barton
Weeks away from launch, Wrisk co-founder Nigel Barton talks to Jonathan Swift about how his business hopes to change the insurance ‘dialogue’, the need for start-ups to forge partnerships with well-known brands, and why it is necessary for the UK to keep…
Analysis: Aviation insurers prove adaptable
Insurers are adapting to aviation's latest trends, despite low premiums.
General insurance complaints jump within the last year
General insurance complaints submitted to the Financial Ombudsman Service have increased over the last year, recent results have shown.
Interview: Humphrey Bowles, Guardhog
Despite his last business venture crashing and burning, Humphrey Bowles, co-founder of Guardhog, has re-entered the insurance market with an insurtech proposition to serve the sharing economy.
Commercial insurers' claims handling failing SMEs
Commercial insurers are failing to give their SME customers a satisfactory claims experience, with 70% saying that their interim and financial claims amounts had not been agreed promptly enough.
FCA head of insurance policy promoted to head of Scottish department
The Financial Conduct Authority’s head of insurance and pensions policy has been promoted to head of department, Scotland.
Interview: Karen Beales, UK General
Karen Beales was recently appointed CEO of UK General from her existing role as managing director, following JC Flowers’s acquisition of the company. Post discussed with Beales what the future holds for the managing general agent.
FCA outlines proposals to extend senior managers regime to insurers
The Financial Conduct Authority has today published proposals to extend the senior managers and certification regime to insurers, essentially replacing the approved persons regime.
This week: Planning, predictions and packing
I am most definitely a planner. Being organised usually tops my list of attributes in appraisals and most of my life as a busy working mum is run by lists. In fact the holiday I'm just about to fly off to has been two years in the planning.
Firms that have made Brexit contingency plans may face difficulties, FCA says
The Financial Conduct Authority said Brexit contingency plans of some companies could cause them "difficulties" in future.
Axis receives regulatory nod for managing agency
Axis Capital Holdings has received final approval from the UK’s regulators and Lloyd’s to launch its own Lloyd’s managing agent.
Week in Post: Brexit, redundancies and consolidation
This week we saw the ‘Great Repeal Bill’ being introduced to Parliament, a key waystone on the long and arduous journey to leaving the European Union.
Co-op Insurance weighing up FCA sandbox application to boost digital presence
Co-op insurance is considering submitting an application to the FCA’s Sandbox and is aiming to make the business even more digital.
33% of insurance customers 'will request for their data to be deleted'
One in three insurance customers will exercise their right to be forgotten under the General Data Protection Regulation.
Fashion firm faces £40m FCA bill for mis-selling GI products
A fashion company may be facing a bill of £40m from the Financial Conduct Authority after mis-selling GI products.
Usage-based motor start-up By Miles gains FCA authorisation
Usage-based motor start-up By Miles has received Financial Conduct Authority authorisation.
Insurer optimism remains flat despite increased hiring and investment
Business volumes, profits and hiring in the general insurance sector remained strong in Q2 2017 despite optimism remaining flat, a survey has revealed.