Go Compare has called for a doubling of the cooling off period for auto-renewals from 14 to 28 days during which time insurers should take “all reasonable steps” to make customers aware their insurance has been auto-renewed.
It’s 2020 so paying lip service to protecting vulnerable customers just doesn’t cut it, in any industry says Peter Thompson, CEO for insurance, distribution and outsourcing at BGL Group.
Allclear has recruited Cameron Jack as group chief financial officer from retail group TFG London where he spent five years as CFO.
With the holiday break over, this week has seen people across the UK – some somewhat sluggishly – get back to business.
Several “significant” key risks of harm have been highlighted by the Financial Conduct Authority in an update to insurer boards.
The Chartered Insurance Institute has urged regulators to take caution as they adopt an increasingly data-driven approach to policing the financial services sector, warning “digital breadcrumbs” can’t replace human insight.
The Financial Conduct Authority has refreshed its Data Strategy, first published in 2013, and set out a “transformation plan” to become a highly data-driven regulator.
Insurance firms must be proactive in tackling “unhealthy” culture issues and misconduct, the Financial Conduct Authority has warned CEOs.
This month marks the start of a new decade. And while a new year might bring optimism for the insurance sector it can also bring with it a host of challenges.
The Financial Conduct Authority levelled £392.3m of fines last year including one in the general insurance sector and its first against a claims management company.
The market has hailed Andrew Bailey as having run a steady ship at the Financial Conduct Authority and congratulated him as he heads to the Bank of England to replace Mark Carney.
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.