Financial Conduct Authority (FCA)
FCA warns on Saffron clone
A group of fraudsters have cloned the website and marketing materials of broker Saffron Insurance, according to a warning from the Financial Conduct Authority.
Brokers get behind SRA plan to ban unrated firms from writing solicitors’ PI
Critics argue plan is ‘misconceived’ and would put ‘upward pressure on rates’.
Editor's comment: The ratings game
The ugly issue of rated v unrated insurers has once again been pushed up the agenda, with news this week that the Solicitors Regulation Authority plans to roll out a consultation on the possibility of a ban on unrated or low‑ranking insurers from its …
Former ABI conduct director Craig to join FCA
Former Association of British Insurers financial conduct regulation director Maggie Craig is to join the Financial Conduct Authority this month as an advisor.
Biba manifesto sparks hope the burden of regulatory cost will be addressed
FCA urged to find areas for savings and be more transparent.
2014 tipped to see consolidation surge as sector’s M&A appetite increases
Regulatory certainty, soft market and economic recovery make deals likely.
BIA Countdown: Achievement winner reflects: Q&A with Lord David Hunt
9 July will herald the 20th anniversary of the British Insurance Awards – and what a sensational two decades it has been.
Chartered status: Raising standards
Amid an industry-wide drive for improved standards, how will the CII’s consultation on changes to its corporate chartered status criteria affect firms seeking to stand out from the crowd?
FCA insurance fines rise 160% in 2013
Fines imposed on the insurance sector by the regulator rose to £44.6m last year, up 160% on the previous year.
FCA proposes £34.5m fine for Homeserve
Homeserve UK is facing a £34.5m fine after receiving a draft warning notice from the Financial Conduct Authority.
London market must meet challenges to retain top position says IUA
Four key issues must be tackled for London to maintain its position as a pre-eminent centre for international insurance risks, the International Underwriting Association has warned.
Escott welcomes chance for CPP to 'move on'
CPP chief executive officer Brent Escott has welcomed the outcome of a consumer vote on compensation saying it will mean the firm can “move on as a company”.
CPP customers back £1.3bn compensation scheme
Credit card insurer CPP will refund seven million customers who were mis-sold insurance for their bank and credit cards to tune of £1.3bn after 98% of those affected backed the compensation proposal.
FCA planning Co-op Bank probe
The Co-operative Bank is facing a Financial Conduct Authority, the regulator revealed today.
Broker standards body launched
A new standards body has been launched to improve behaviour and standards in the broking industry.
FCA warns on Money Supermarket adverts
The Financial Conduct Authority has slammed a recent campaign by price comparison site Money Supermarket over claims on saving customers cash.
Brokers should brace for more reforms in 2014
Brokers should be prepared to have their earnings hit even harder in 2014 as the Financial Conduct Authority concludes its market study into insurance add-ons according to a legal expenses insurer.
JLT £1.8m fine is a ‘wake-up call’ for firms says the BSI
JTL’s £1.8m fine is a wake-up call to the importance of having clear anti-bribery policies, the British Standards Institution has said.
Four groups granted super-complainant status to FCA
Four consumer representative bodies have been granted “super-complainant” status by the government for the financial services sector.
FCA fines JLT Specialty £1.8m
JLT Specialty has been fined £1.8m by the Financial Conduct Authority for failing to have appropriate systems in place to guard against the risk of bribery or corruption when making payments to overseas third parties.
FCA urged to probe premium finance arrangements after TCF accusations
Whistleblower says ‘nearly all’ big brokers are shortchanging their customers
Biba welcomes CC recommendations on most-favoured nation clauses
The British Insurance Brokers’ Association has welcomed the Competition Commission's move to act on “anti-competitive” most-favoured nation clauses.
Interview: Brent Escott: Change for the better
Brent Escott has seen it all, with his 20-year career covering most areas of the insurance industry. So did becoming CEO of under-fire Card Protection Plan faze him? Not a bit.
FCA fines Porta Verde £25 000 for insurance mis-selling
The Financial Conduct Authority has fined Porta Verde Financial Services £25 000 after two of its appointed representatives mis-sold insurance, often to elderly and vulnerable customers.