Financial Conduct Authority (FCA)
Blog: D&O insurance - ‘The Times They Are A-changin'
Primary D&O underwriters have been living with over-capacity, broad cover, and low rates for a long time, but are there reasons to think that 2015 could be the beginning of the end of this soft market for management liability risks?
Quiz of the week - 2 April
Test your knowledge of this week's industry news stories with our just for fun quiz.
Editor's comment: Do as I say, not as I do
Insurers and brokers have been warned to be on their guard after the Financial Conduct Authority set out its stall for 2015 and set its sights on a general insurance shake-up with another series of reviews – despite many thinking this might be the year…
FCA expected to bare teeth as competition powers kick in
Firms could be on the receiving end of significant fines as the Financial Conduct Authority demonstrates its new competition powers, according to lawyers at Norton Rose Fulbright.
GI players under the microscope as FCA increases its focus on the sector
Insurers and brokers have been warned by market observers to be on their guard after the Financial Conduct Authority outlined a series of reviews designed to shake-up the general insurance sector.
Vulnerable Customers: Protecting the vulnerable
A recent Financial Conduct Authority report found that financial companies are not meeting the needs of the more vulnerable customers in society – so what are insurers doing to help combat this?
Political Interview: Cathy Jamieson: Bringing big ideas
In the last of Post’s political interviews in the countdown to the General Election, Cathy Jamieson, Labour Shadow Financial Secretary to the Treasury, lays out her party’s aims in government.
GI complaints slightly down in second half of 2014
Complaints about general insurance fell 1% in the second half of 2014, according to the latest figures from the Financial Conduct Authority.
Buying habits of millenials raise threat of conduct risk
Technology is increasingly distancing millennials from traditional purchase channels and sources of advice, research by consultancy Towers Watson has found.
FCA urged to prove absence of ‘systemic weakness' in standards and culture
The Treasury Committee has demanded the Financial Conduct Authority do more to satisfy parliament and the public it is not suffering a "systemic weakness" in standards and culture following its press briefing blunder in March 2014.
Quiz of the week
How well do you know what happened in the world of insurance this week? Test your knowledge of the week's news with Post's coffee break quiz.
Heritage Insurance granted Lloyd's registered broker status
Heritage Insurance has been granted Lloyd's registered broker status; a move that allows Heritage Insurance Solutions, the Financial Conduct Authority-regulated arm of Guernsey-headquartered Heritage Group, to place business directly with Lloyd's…
FCA funding requirement increases 8.4%
The Financial Conduct Authority's annual funding requirement has increased by 8.4% to £481.6m for the year 2015/16.
Redress for opt-out add-on buyers mooted
Redress for consumers who bought add-ons unnecessarily through the opt-out process would be a "logical conclusion" of the Financial Conduct Authority consultation into the sales practice, according to PWC.
FCA mulls ban on opt-out selling of add-ons
The Financial Conduct Authority has sounded the death knell for the opt-out method of selling of add-ons, following its market study last year.
FCA turns attention to big data and role of appointed representatives
The Financial Conduct Authority will turn its attention to the role of appointed representatives and the use of big data in the year ahead.
Interview: Helen Withers: Seizing the opportunity
When Helen Withers was made redundant, she took the chance to start afresh and, as managing director of Arc Legal, she tells Post how the decision has paid off
Trade Voice: Taking the first steps
Can the UK insurance sector learn anything from the Irish Consumer Protection Code 2012?
CPP continues CEO search five weeks after Escott resignation
Credit card insurer CPP is yet to have identified a suitable replacement for Brent Escott more than a month after the former CEO resigned from the firm.
NCB deadline extension may not be long enough, claims ABI
The Association of British Insurers has questioned whether the Competition and Markets Authority's no claims bonus extension is adequate and described its decision to maintain “rigid and generic” wording on NCB information as “a mistake”.
FCA may be more open about interventions - report
The new head of supervision at the Financial Conduct Authority has hinted that the watchdog may provide more information about its interventions.
Interview: Andy Fairchild: Grow, protect and support
Broker Network’s CEO Andy Fairchild outlines his vision for the year ahead and the three areas he aims to focus on in 2015
Editor's comment: Golf anyone?
The image of an insurance non-executive director having an easy life where they just pop in and attend quarterly business meetings and spend the rest of their life on the golf course is long gone.
Solvency II NEDs told to ‘up their game' in face of increased regulation
The risk of a decreased talent pool has been highlighted by market players as a potential ramification of “onerous” regulation targeting non-executive directors at Solvency II insurance companies.