Financial Conduct Authority (FCA)
FCA backtracks on exec and board gender reporting approach
The Financial Conduct Authority has scrubbed references to 'non-binary' and 'self-identifying' from executive and board statement target forms following a deluge of campaigner consultation responses.
BI ruling and Covid impact drive claims vacancy boom
Job adverts for claims roles are on the up, research has suggested, with the business interruption ruling a likely driver.
FCA's broker survey puts property commissions under the microscope
The Financial Conduct Authority has placed broker commissions in multi-occupancy property under greater scrutiny with its latest survey.
FCA staff back strike action in Unite ballot
Staff at the Financial Conduct Authority have voted in favour of striking over proposed changes to pay and conditions, the trade union Unite has announced.
Nikhil Rathi pledges to make the FCA more assertive and quicker in stamping out wrongdoing and consumer harm
The Financial Conduct Authority has launched a three-year strategy to improve outcomes, with the CEO Nikhil Rathi pledging to make the regulator more assertive and quicker in responding to changing financial services sector.
FCA regulatory reforms no ‘silver bullet’ but step towards more nimble regulator
Regulation experts have praised the Financial Conduct Authority’s steps towards tackling authorisation delays but have warned they will not be enough to tackle the problem on their own.
Lords Committee expresses concerns of ‘overly demanding’ and ‘burdensome’ regulation of London Market
The Industry and Regulators Committee has written to the Economic Secretary to the Treasury John Glen to outline concerns about lack of proportionality in the regulation of the London Market by the Financial Conduct Authority and the Prudential…
FCA reforms authorisation process as it continues recruitment push
The Financial Conduct Authority has said it is committed to bring a more robust and efficient authorisation process and confirmed it has reformed its authorisation process with more decisions now taken by individual senior managers rather than by…
Citizens Advice ethnicity penalty campaign a ‘wake up call to FCA’
Citizens Advice ethnicity penalty report must be "a wake up call to the Financial Conduct Authority” to act on its promise to HM Treasury as insurers face warnings the fallout from this could be as far reaching as the Test Achats gender ruling.
Analysis: How dual pricing reforms are shaking up insurance
Post investigates what changes the industry has seen following January’s dual pricing reforms, and if insurers are following the right path on price walking.
UK regulators are not 'lumbering' and should not mirror Bermuda, says Glen
Calls from the London market to reform the UK regulatory regime to more closely resemble that of, for example, Bermuda should be resisted, the Economic Secretary to the Treasury John Glen has said.
Axa will not appeal Corbin & King BI verdict
Axa has decided not to appeal a £4.36m Commercial Court business interruption judgment against it.
Inside Out: A former BI insider looks at what the insurance industry should have learnt in the past two years
Post invites industry insiders affected by key issues they believe insurance is getting ‘inside out’ to share their perspective and state their case for change. Here, a former business interruption insider talks about how the recent Corbin & King v Axa…
Motion for mandatory leasehold buildings insurance commissions disclosure tabled in parliament
An early day motion naming Reich and calling for regulated firms to be required to disclose leasehold buildings insurance commissions has been tabled in the House of Commons.
Spotlight on dual pricing: The end of dual pricing and what it means
Post and PayPal surveyed the industry to explore the possible implications of the recent price-walking ban. Valerie Hart looks for further insight into how the industry might adapt.
Citizens Advice sounds alarm on car insurance 'ethnicity penalty'
Citizens Advice has accused the insurance sector of charging an 'ethnicity penalty' after finding that people from ethnic minority backgrounds pay hundreds of pounds a year more for their car insurance than white people.
Pricing equilibrium to settle within 'next few months': A-Plan CEO Kelly Ogley
A-Plan CEO Kelly Ogley told Post she expects the market will 'reach an equilibrium' on pricing in the next few months following Financial Conduct Authority reforms.
FCA 'considering' Corbin & King BI judgment impact
The Financial Conduct Authority is considering the impact of the recent legal judgment in the case between restaurant group Corbin & King and Axa.
Intelligence: Post's complaints matrix shows the products that let consumers down during the pandemic
Complaints data from the Financial Conduct Authority and the Financial Ombudsman Service helps to create greater transparency and accountability for insurance firms. As Post brings together the most comprehensive set of complaints data from 2014 onwards,…
Regulators quizzed on authorisations and competitiveness by Lords committee
Prudential Regulation Authority CEO Sam Woods has said there is “probably” scope to authorise a greater number of insurance entities in response to questions from a House of Lords select committee about the proportionality of regulation faced by market…
Three key findings from the 'Transitioning To Usage-Based Insurance' webinar
Jonathan Swift, content director for Insurance Post, recently hosted the webinar: ‘Transitioning To Usage-Based Insurance’, in which a panel of experts discuss how usage-based insurance could be core to insurers while future-proofing their ability to…
FCA presses on with plans to scrap bonuses as it revises pay proposals
The Financial Conduct Authority has pressed on with plans to bring an end to performance-based bonuses for staff, prompting condemnation from the trade union Unite.
Intelligence: Raising the AR bar
The insurance industry should not kid itself that it has no issues in its use of appointed representatives but, according to specialists, the FCA consultation should not strike fear into well-run businesses, writes Emmanuel Kenning.
Analysis: Online Safety Bill changes hailed but no room for complacency
Proposals to add paid for advertising and the offence categories of fraud and financial crime to the Online Safety Bill have been welcomed by the insurance industry but as yet there are no guarantees on the final product.