Financial Conduct Authority (FCA)
FCA whistleblowing proposals to cost large firms £280,000
A Financial Conduct Authority consultation that would require insurers to implement formal whistleblowing procedures has an indicative annual cost of £280,000 for large firms.
Brain Training ...handling client money
The top 10 things you should know about handling client money.
SII insurer NEDs to face same regulation as banks
Changes to the banking industry's senior managers regime that affect non-executive directors are to be implemented for Solvency II insurers, the Financial Conduct Authority says.
Company policies failing to protect vulnerable consumers finds FCA
The Financial Conduct Authority has challenged financial services firms to develop new approaches to support vulnerable consumers.
Insurers clamour for industry standard on premium comparison
There is a groundswell of support among insurers to establish an industry standard on premium comparison at renewal after Axa broke ranks to introduce such a scheme for personal lines customers.
Why behavioural economics matters for insurers
Beyond the hype to a useful source of hypotheses...
Axa considers premium transparency for direct commercial customers
Axa is considering informing its direct commercial customers of their previously charged premiums as it reveals it will start to do so for some of its personal lines customers this month.
Premium rate phone ban to cost insurers £90,000 per year
The proposed ban on insurance companies using premium rate telephone numbers for customers could cost insurers as much as £90,000 a year in lost revenue, according to calculations by technology firm Callstream.
Towergate Financial facing £85m mis-selling bill
Towergate expects to pay up to £85m in redress costs for the mis-selling of two financial products to the end of 2012.
11 banks facing 2 million compensation bills over card protection product
Eleven banks and credit card issuers may be forced to pay compensation to approximately two million people over the sales of a card security product.
FCA launches fresh PPI complaints investigation
The Financial Conduct Authority has announced a new probe into complaints over the sale of payment protection insurance that may see it set a time limit for complaints.
Blog: Insurance - more important than Fruit Pastilles
What happens when you examine the insurance industry like you would a packet of Fruit Pastilles?
Insurance CEOs: Picking the perfect candidate
Hiring a new CEO can be a problem for an insurance company, with standards of demonstrated experience continually rising and the regulator wielding its influence over appointments. So, how do they pick the right person for the job?
CPP CEO Escott warns brokers about PE snubs if they ignore regulation
Insurance businesses need to “embrace” regulation or face tough consequences if they continue their current “amateurish” practices. Not least the fact they will struggle to sell a business if their compliance is not up to scratch, says CPP's Brent Escott.
Blog: On the tenth anniversary of Insurance Mediation Directive
On 15 January 2015 the Insurance Mediation Directive will be 10 years old. So how have things changed since?
Trade Voice: Biba sets out manifesto for 2015
The trade body reveals a 10-point plan for smarter, clearer and value for money regulation
Biba sets out plan for more affordable regulation
The British Insurance Brokers' Association has set out a 10 point plan to achieve regulation that is better value for money in its 2015 manifesto, launched today (19 January).
Blog: Five emerging trends to watch out for this year
This week Post gazed into its crystal ball to discover what 2015 held for the insurance market. Below are five of the most exciting (but also sobering) discoveries about the year ahead.
CMA draft order obligations criticised for duplicating existing regulation
Industry players are fearful draft Competition and Markets Authority motor insurance obligations conflict with existing conduct regulation amid concerns the watchdog is not giving firms enough time to implement its suggested reforms.
Insurance trade bodies to meet with regulators on CMA draft orders
The British Insurance Brokers' Association and the Association of British Insurers are to meet with the Financial Conduct Authority and the Competition and Markets Authority in the coming weeks to ensure obligations from the CMA private motor…
C-Suite - Insurer: Where have we gone wrong?
Managing customer outcomes must become equal in importance to financial performance and risk
Insurers warned over SSL phoenix company as ex-staff hit out at former bosses
Former insurer clients of defunct loss adjusting firm SSL have been warned to avoid phoenix company Artemis amid criticism of the company directors’ business practices.
Blog: how to find the balance between customer expectations and indemnity leakage
The key to handling claims effectively centres around people, processes and systems, according to Simon Penny, head of insurance, business process solutions, DST
Government to make FCA and PRA more accountable
Following a review the government has published a number of recommendations to ensure the way the financial regulators make enforcement decisions continues to be fair, transparent and efficient.