Financial Conduct Authority (FCA)
Regulation: Staggering Along
The switch from the Financial Services Authority to the Prudential Regulation Authority and the Financial Conduct Authority could prove tricky — especially with Solvency II on the horizon.
Insurers argue FSCS funding structure to pay into broker pool is 'unreasonable'
The British Insurance Brokers' Association has condemned plans to revise the funding structure of the Financial Services Compensation Scheme, arguing that the charges faced by insurance brokers remain "unacceptably high".
Corporate governance: Skilled assessment
The Financial Services Authority can request a 'skilled person report' at any time, on any matter. What can insurers do to ensure that their corporate governance is in the best shape?
IUA prioritises regulation and London Market modernisation for 2013
The International Underwriting Association has pledged to develop a new strategy for modernising business processes in the London Market in 2013.
Review of the Year: Brokers - A bumpy ride
Brokers have experienced a somewhat tumultuous year, with imminent regulatory changes, big-name departures and the ongoing financial crisis all leaving their mark on 2012. What next for the sector?
Biba asks Chancellor to consider the FSCS funding model
The British Insurance Brokers’ Association has urged George Osborne to “ensure appropriate and proportionate” regulation for brokers and to consider the Financial Services Compensation Scheme funding model for his Autumn Statement submission.
View from the top: Changing for the better
Increased regulation may be taxing for the industry but will ultimately make it stronger, says Stuart Reid.
Brokers to blame for lack of voice at top table
Brokers need to "stand up and be counted" when it comes to interacting with law makers and regulators, according to Giles Insurance Brokers chief executive Brendan McManus.
Post magazine - 15 November 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Editor's comment: Harmony at last? Maybe not...
Last week was busy for insurers at Parliament. First, something unusual happened in Westminster's corridors of power that could spell good news for the insurance industry.
MPs call for Financial Conduct Authority to regulate CMCs
MPs spoke in favour of referring Claims Management Companies' conduct to the incoming Financial Conduct Authority during a debate at Westminster Hall.
Think tank calls for FCA to be 'terminated at birth'
The government has been warned to abandon the incoming Financial Conduct Authority in favour of handing consumer protection issues to the existing Financial Ombudsman Service.
FSA changes Solvency II compliance timetable
The Financial Services Authority will work on firms' Solvency II internal model approval until 31 December 2015.
Post Blog: Innovate or withdraw
The FCA is likely to take a hard line on products that are not in the best interests of consumers, and insurers could be left with difficult decisions.
Interview: Dominic Clayden - not shaken or stirred
Aviva's UK GI claims director Dominic Clayden has been at the forefront of many claims battles over the past 15 years. He talks to Post about the upcoming civil justice reforms and the issues currently affecting the insurance industry.
Penny Black's Insurance Week
Recognition is always nice but somewhat cringe worthy when it's misplaced, Penny finds.
FCA to "revolutionise" consumer behaviour
The financial services industry needs to "brace itself" for a major change in the approach to competition by the regulator.
CII welcomes FCA clamp down on 'poor' business behaviour
The Chartered Insurance Institute has said it looks forward to the Financial Conduct Authority "punishing poor and unethical behaviour" as the new body launched a consultation paper on how it will operate.
ABI welcomes consumer-led FCA approach
The Association of British Insurers has backed Financial Conduct Authority boss Martin Wheatley's plans for consumer-focused regulation.
Biba calls for proportionate FCA regulation
The British Insurance Brokers' Association has issued a cautious welcome to clarification from the FSA on its transition to the new regulator.
Wheatley unveils new regulation agenda
Martin Wheatley, incoming chief executive of the Financial Conduct Authority, aims to "reset" how the regulator works with financial firms and address "cross-industry issues" when it replaces the Financial Services Authority next year.
Editor's comment: Stars of the small screen
With the British public's general view of the industry leaning towards a default 'big bad insurer', any opportunity to tip the balance back a couple of notches should be jumped on for maximum effect.
View from the top: Opportunity continues to knock
Towergate is celebrating its 15th anniversary this month, leading Mark Hodges to think about how much the industry has changed in the firm's corporate lifetime.
Biba boss urges Financial Conduct Authority to regulate 'appropriately'
British Insurance Brokers' Association chief executive Eric Galbraith, pictured, has called for "more appropriate" regulation, and offered to "help point the gun" at problem areas to support the FCA's efforts to stamp out product mis-selling.