Financial Conduct Authority (FCA)
FSA bosses Sants and Turner paid £0.5m for gardening leave
The Financial Services Authority paid its former chief executive Hector Sants and chairman Adair Turner a total of £552 178 in compensation for being unable to take on another financial services role.
Add-on investigation highlights data opportunity: Sas
The enquiry into the selling of add-on products should prompt insurers and brokers to better utilise data in offering products to consumers according to Sas head of insurance Martyn Kyle.
Regulator FCA faces call for "pay to play" to be investigated
Regulator faces calls for ‘pay to play’ to be investigated.
Q&A: Andy Watson: Happy days
Andy Watson reflects on his short time in charge of Ageas UK and discusses market issues, including the referral fees ban, regulation, telematics and recent job cuts in the sector.
Solicitors offered unrated insurer carriers despite solvency concerns
Déja vu as Balva-like unrated carriers on brink of taking market.
Editor's comment: The spectre of Spitzer returns
In 2004, the US insurance broking industry came under attack as then New York Attorney General Eliot Spitzer declared war — with allegations of kickbacks, rigged bids for insurance contracts and opaque practices, including contingent commissions.
Swinton apologises over complicated add-ons
Swinton has apologised for selling add-on products that customers might have struggle to understand and is offering them a refund.
Loss adjusting Regulation: If it ain't broke
Loss adjusters claim they are already monitored closely but should they face formal regulation like the rest of the insurance industry?
Wheatley to declare FCA will be “a very different animal”
Financial Conduct Authority chief executive Martin Wheatley will today pledge to the Association of British Insurers that the new regulator is “a very different animal to the Financial Services Authority.”
In Series: Claims: Investigating the investigators
What will the FCA’s examination of insurers’ use of private investigators uncover – and will it affect industry efforts to combat fraud?
Affinity news: Axa director warns against using ‘herd mentality’ to avoid FCA action
Goss points at PPI scandal as example of mass impropriety.
Automatic policy renewals come under FCA scrutiny
Increased premiums on automatic policy renewals are to come under the spotlight, the Financial Conduct Authority has said in a letter to lawmakers.
FCA focused on insurance sector with phone fine, says lawyer
The fine handed out by The Financial Conduct Authority to Policy Administration Services, illustrates the regulator’s interest in the insurance industry, a legal specialist has said.
Phones 4 U insurance administrator PAS fined £2.8m by regulator
The Financial Conduct Authority has fined Phones 4 U’s insurance administrator Policy Administration Services £2.83m for poor complaints handling.
Swinton launches £60m business plan revamp after FCA intervention
Swinton is investing £60m in modernising its multi-channel operation after falling foul of a regulatory inquiry into some of its sales practices.
SME customers focus of FCA review
A Financial Conduct Authority review of broker conflicts of interest will focus on SME and micro-business customers, it was announced today.
Add-ons: Into the mist
The Financial Conduct Authority’s investigation into add-ons threatens to create fault lines between the industry and the public. Is the sector’s house in order or is a clean up needed?
FCA to investigate broker conflicts of interest
The Financial Conduct Authority is launching a thematic review into broker conflicts of interest.
Mass calls for SRA rethink on enticements to claims
The Motor Accident Solicitors Society has expressed disappointment at the fact the Solicitors Regulation Authority is not considering outlawing cash or gift enticements to potential claimants.
Tribunal upholds FCA ban and £150 000 fine on broker Jeffery Flanders
The Upper Tribunal has upheld the decision of the Financial Conduct Authority to ban Andrew Jeffery, director of Jeffery Flanders (Consulting), and fine him £150 000 – one of the largest fines imposed on a broker for insurance fraud.
Mobile insurers tarnished by the few bad operators
Mobile insurers not acting in customers' best interests risk tarnishing the good name of the industry as a whole, according to Supercover Insurance.
Some mobile phone insurance policies are poor and unclear says FCA
The Financial Conduct Authority has published a review into mobile insurance which found evidence or poor product design, unclear terms and inadequate claims and complaints handling.
Report incriminating insurers in phone hacking to be re-examined
The Home Affairs Committee is due to meet later today to discuss the possibility of questioning the Serious and Organised Crime Agency over a leaked report into the use of private investigators by insurance, law and telecoms firms and their links to…
Motor Insurance: The road to profit
Could recent legislation provide the turning point motor insurers need to drive them into long-awaited profitability, or are tough times set to continue?