Financial Conduct Authority (FCA)
Post Power List 2017: Andrew Bailey
CEO, Financial Conduct Authority
FCA launches consultation on handbook changes
The Financial Conduct Authority has launched a consultation paper on the handbook changes needed to reflect the new insurance linked securities regime.
Spotlight: Claims Assistance: Ignore at your peril
Dissatisfaction over clarity during the claims process has been highlighted by the recent Financial Conduct Authority review. What can the industry do to make the system work better?
Spotlight: Claims Assistance: Providing claims support
For SMEs, the delays inherent in complex claims can mean coming perilously close to insolvency. What can brokers do to support them through the process?
FCA: Consumers overpaying £108m a year in ‘poor value’ add-ons
The Financial Conduct Authority said customers may be overpaying £108m every year in insurance add-ons, with sometimes less than 10% of retail premiums for add-ons paid out in claims.
Biba calls on the FCA to address rising regulation costs
The British Insurance Brokers’ Association has called on the Financial Conduct Authority to address the cost of regulation on small brokerages.
Tailored policies and cyber set to influence market in 2017
Tailored insurance for new professions, cyber policies for SMEs, and the FCA’s consultation on the Financial Services Compensation Scheme are three key trends expected to influence the insurance market over 2017.
LV's Martin Milliner on how getting whiplash right could restore faith in insurance
Working with government, regulators and trade bodies to build public trust in insurance is a common aim of our profession and more important than ever when considering today's unnecessary claims culture.
Blog: What the SSP outage teaches brokers
Outsourcing to third-party applications can help streamline operations and cut costs; there are practical steps brokers can - and should - take to reduce the impact of a potential outage.
FCA admits its email system was 'spoofed'
The Financial Conduct Authority said it issued a fake email to its mailing list on Friday.
This week in Post: Unrated insurers and reasons to detox
The sallow, downbeat faces of my colleagues today can only mean one thing: it’s the morning after the staff Christmas party.
Previously unrated Elite assigned BBB- rating by Fitch
Previously unrated Elite Insurance has been assigned an IFS rating of BBB- by Fitch.
Industry 'concerned' over FSCS levy proposals
Trade bodies are concerned over the Financial Conduct Authority’s suggestions on Financial Services Compensation Scheme funding.
FSCS levy may rise for brokers that use unrated insurers
The financial services watchdog could make brokers that deal with unrated insurers pay a higher levy to the Financial Services Compensation Scheme.
Nicola Crawford appointed as IRM chair
The Institute of Risk Management has appointed Nicola Crawford as its new chair.
FCA extends timetable on PPI complaints deadline
The Financial Conduct Authority said it needs more time to make a decision on whether it will impose a cut-off deadline for Payment Protection Insurance claims.
PI firm's 'ethnic penalty' motor premium findings submitted to Human Rights Commission
PI law firm Thompsons Solicitors has submitted its findings on 'ethnic penalties' in motor insurance to the Equality and Human Rights Commission.
FCA finds brokers are potentially underinsured
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Spotlight: Motor Data: Increasing data use in the van sector
Van insurance is often purchased by sole traders in the same way as household insurance but data in this sector lags behind the rest of the personal lines sector. What can the sector do to catch up?
FCA publishes supervision plans for Insurance Linked Securities
The Financial Conduct Authority has outlined its proposed approach to the authorisation and supervision of Insurance Special Purpose Vehicles, which will facilitate Insurance Linked Securities business.
London Market welcomes proposed ILS reform
The London Market has welcomed the publication by the government of draft regulations for Insurance-Linked Securities for consultation.
Gable policies will expire in a month, FCA warns
Policies with Gable will automatically be cancelled in less than a month’s time, the Financial Conduct Authority has warned.
FCA boss warns insurers about ‘exploiting’ customers through Big Data
The Financial Conduct Authority has warned against insurers “exploiting” customers by using Big Data to unfairly tailor premiums.
Aegis London appoints new CFO and compliance director
Aegis London has appointed Hermien Smeets-Flier as chief financial officer and Graeme Tennyson as director of risk and compliance.