Financial Conduct Authority (FCA)
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.
Lloyds Banking Group firms hit with £28m FCA fine
The Financial Conduct Authority has fined Lloyds TSB Bank and Bank of Scotland, both part of Lloyds Banking Group more than £28m for serious sales incentive failings including protection products.
Bid to cut red tape set to enhance UK insurance market’s competitive position
Insurance Growth Action Plan aims to remove barriers for UK insurers overseas.
Penny Black's Insurance Week - 12 December 2013
Arriving late for last week’s All Party Parliamentary Group on Insurance and Financial Services, Financial Conduct Authority boss Martin Wheatley found his own words had been used against him.
C-Suite: The spotlight keeps shining
The industry must keep doing the right thing for consumers under the glare of government, says Paul Geddes, chief executive, Direct line Group.
Howden compliance chief calls for simple approach to FCA visits
Brokers should not volunteer additional information on top of what is initially requested when faced with a visit by the Financial Conduct Authority, says Howden's head of risk and compliance.
Towergate tipped to escape with FCA ticking off after misallocation of £15m
Auditor KPMG could find itself in the firing line for failing to spot error.
Editor's comment: The benefits of owning up
It is not unusual for the average person to have a personal bank account, a credit card account and a savings account.
Interview: Ian Parker: Taking the scenic route
Ian Parker’s search for the right firm took him across the globe before he finally found his ‘sweet spot’ with Equity. The chief executive tells Post why the insurer is such a perfect fit.
Review of the Year: Loss Adjusting: Outlook unclear
Benign weather, regulation speculation and insurer panel reviews turned what began as a positive year for loss adjusters into a period of uncertainty. How do key figures from the sector feel about the past 12 months?
FCA will push for brokers to have ‘house in order’, UKGI predicts
Compliance consultancy UKGI predicts 2014 will see the conduct regulator pressuring the broking community to “put its house in order” before insisting on fresh regulations.
Brokers baffled as FCA places them in ‘high risk’ group
Aggregators say FCA probe into sector no longer relevant.
Editor’s Comment: Thematic fatigue
The old cliché goes that you should sometimes be careful what you wish for.
Lloyd’s: A period of adjustment
In a challenging year for the market, how is Lloyd’s responding to regulatory changes, international competition and the potential threat posed by passive underwriting structures?
Separate conduct regulator proposed in Scottish independence paper
Scotland would set up its own financial conduct regulator if it becomes independent from the UK, according to the Scottish government’s white paper on independence released today.
Money Supermarket chief welcomes FCA review
A regulatory review into price comparison sites has been welcomed by Money Supermarket chief executive Peter Plumb.
FCA plots price comparison review
The Financial Conduct Authority has launched a thematic review of price comparison sites, raising fears that consumers may not be securing adequate coverage.
Biba to expand cost of regulation research to include non-EU markets
The British Insurance Brokers’ Association is revisiting research it conducted in 2011 on regulatory cost for brokers with plans to expand its scope to include key insurance markets outside the UK and Europe.
Confusion prompts Hampden Underwriting name change proposal
Hampden Underwriting is proposing to change its name to Helios Underwriting to avoid confusion with another entity within the Hampden Group.
Homeserve UK's revenue reduces amid continuing FCA investigation
Homeserve’s UK business has reported reduced revenue in the first half of 2013 to £127.2m from £134.5m in the same period of 2012.