Financial Conduct Authority (FCA)
Concerns raised on effectiveness of FCA’s general insurance scorecards
Issues with the Financial Conduct Authority’s pilot of general insurance scorecards have been highlighted by industry players who remain unconvinced a focus on claims data and a ‘one size fits all’ approach is what is required.
FCA to pilot general insurance scorecards
The regulator has announced plans to pilot general insurance ‘scorecards’ on a select number of products.
NAO criticises disjointed approach to mis-selling regulation
The National Audit Office (NAO) has criticised a lack of effective co-ordination between the Financial Conduct Authority (FCA) and the Financial Ombudsman Service (FOS) with respect to the mis-selling of financial products.
Insurance Complaints: No more Mr Angry
There is no crisis as far as complaints directed at insurers and brokers go – but even one unfairly treated customer is too many. So, how seriously is this area being taken and are efforts underway to raise standards further?
Trade Voice: Taking fraud to task
The government’s taskforce has reported back with 26 recommendations on how to fight fraud.
FCA to draw up strategy on older consumers
The Financial Conduct Authority has released a paper to spark debate on how to better address the needs of the UK’s ageing population.
Data breach at Aviva’s online offering Quote Me Happy
Customers of Aviva brand Quote Me Happy were able to see the contact information of other clients, but the insurer says it was a small percentage and the details could not be altered.
Patrick Snowball: bankers and regulators are ruining the GI market
Many of the UK’s major general insurance companies are suffering because their boards have turned the businesses into pseudo-banks, and manage them accordingly to pacify the authorities.
The Post Power List 2016
In a year where regulation, natural disasters, consolidation and cyber/digital again look set to make waves, and when the country could learn if it’s in or out of the European Union, Post had a mind mapping session – with a bottle of wine – to see who…
The Post Power List 2016 is revealed
Post is delighted to reveal its 2016 Power List, a carefully (wine) crafted list of movers and shakers both within and without the insurance industry who we at Post Towers – with our experience, knowledge and independent view – believe will either have…
MGA venture by Cunningham Lindsey gets MGAA backing
Cunningham Lindsey will support managing general agents with a new service designed to assist with regulatory requirements and back office functions, a move that has been welcomed by the Managing General Agents’ Association.
Rank: 1 - Andrew Bailey, CEO, Financial Conduct Authority
Bailey’s move from one side of the regulatory twins peaks [the Prudential Regulation Authority] to the Financial Conduct Authority seemed somewhat anti-climactic when he was unveiled as Martin Wheatley’s successor.
Bailey challenged to prove his independence in FCA role
Incoming Financial Conduct Authority CEO Andrew Bailey has been challenged by an MP to prove his independence from the government after accusations he was "hand-picked" by Chancellor of the Exchequer George Osborne to take on the role.
Hefty FCA fines highlight importance of delegated authority chain controls
The £15.5m of fines handed to individuals and firms involved in the collapse of several unrated insurers operating in the solicitors' professional indemnity market have highlighted the need for all parties involved in the delegated authority chain to…
FCA issues £15.5m in fines to fill hole caused by Eric, Balva and Millburn failures
The Financial Conduct Authority has fined five individuals and two firms a total of £15.5m for their part in a market failure that left hundreds of solictors without valid cover.
Bailey planning more moderate FCA approach
Incoming Financial Conduct Authority CEO Andrew Bailey will not take the "shoot first ask questions later" approach of his predecessor Martin Wheatley when he joins the regulator in July.
Director of Content’s Comment: The right man for the FCA job?
The news that then Financial Conduct Authority CEO Martin Wheatley was not to have his contract renewed by Chancellor of the Exchequer George Osborne was followed by plenty of column inches predicting who his successor would be and what it would mean for…
Industry likely to follow suit as Allianz tackles SME underinsurance
Other insurers are expected to follow Allianz’s lead in addressing underinsurance in the SME market, despite the likely adverse impact on trading results.
'Big player' Bailey backed by industry as FCA CEO
The appointment of the Prudential Regulation Authority’s highly regarded CEO Andrew Bailey to the top job at the Financial Conduct Authority has been welcomed by industry leaders who have praised Bailey’s clout and “deep regulatory experience”.
FCA appoints PRA's Bailey as CEO
The Financial Conduct Authority has a new CEO with HM Treasury appointing Prudential Regulation Authority boss Andrew Bailey to the role.
Trade Voice: Fair’s fair
The call to action for #FairnessForAll is not an unattainable ideal.
Allianz to ditch condition of average for underinsured SMEs
Allianz will remove the use of averages for SMEs that are underinsured despite recognising such a move could affect its trading results, the insurer announced among other measures today (25 January).
Biba Manifesto 2016: Biba spotlights regulatory cost as members face new hike in fees
The cost of regulation continues to feature prominently in the British Insurance Brokers’ Association’s manifesto for 2016, alongside emerging areas such as a European referendum, the implications of the Vnuk tractor case and Flood Re exclusions.
FCA head McDermott out of running for top job
The Financial Conduct Authority has confirmed Tracey McDermott had ruled herself out of the top job at the regulator, following comments by Chancellor George Osborne today (7 January).