The Financial Conduct Authority issued 522 unauthorised firm warnings and an unconnected £227.3m in fines for the year up to March 2019, both signifying a jump.
Insurance is one of the sectors under the spotlight in a shared policy summary and joint consultation by the Financial Conduct Authority, Prudential Regulation Authority and the Bank of England on incoming requirements to strengthen operational…
Fitch has declared a negative outlook for insurers in the UK home and motor markets in 2020 citing high claims inflation and a weak pricing environment.
Average home insurance premiums have climbed at a rate higher than inflation over the past six months, Consumer Intelligence research has found.
It feels as if 2019 was an uncomfortable year for the general insurance market as it never quite seemed to grasp control of its own destiny. Wherever you look, carefully laid plans were derailed by the unexpected – and often unwanted – intervention of…
Insurers need to ditch standard practices like target times in contact centres and avoid unnecessary bureaucracy if they are to meet the needs of vulnerable customers, according to Direct Line Group managing director of claims Jessie Burrows.
The former CEO of a mutual insurer is looking at fines and a ban, following a joint investigation by the Financial Conduct Authority and Prudential Regulation Authority.
More than 800 houses have been evacuated due to flooding and many of those families won't be back in their home for Christmas. Flood warnings are still in place and there are reports that flood defence equipment is being stolen.
The regulatory agenda is always something of a concern to the independent non-executive director in the insurance market and keeping a close eye on the 2019 and 2020 plans from both the Financial Conduct Authority and Prudential Regulatory Authority is…
The insurance industry has reported mixed responses to reports of “shameful” behaviour by staff at the London offices of the Financial Conduct Authority.
Solicitors must declare the source of their claims leads, Aviva has challenged, as research shows a tiny fraction of nuisance calls have the legally-required customer consent.
Reserving has been reiterated as a key area of focus for the Prudential Regulation Authority, as the regulator suggested it could use its “formal powers” if insurance firms fail to meet standards.
Blog: What does Admiral’s move to consolidate its aggregator businesses as Penguin Portals say about the state of price comparison in 2019?
A week after Go Compare's parent re-financed, Admiral has consolidated its global aggregation businesses as Penguin Portals 'to realise its global growth ambition'. Post content director Jonathan Swift ponders if this signals a first step toward…
British Insurance Brokers' Association CEO Steve White ponders what proportionate regulation for insurance brokers should look like.
The FCA continues to be concerned about the problems faced by vulnerable customers. The regulator is expected to soon unveil a consultation to provide clarity on expectations of firms. Experienced claims handlers will play a key role in helping insurers…
"Outlier" credit hire companies have left insurers increasingly dealing with claims in excess of £100,000, lawyers have cautioned.
Disruption caused by any regulatory interventions on insurers’ pricing practices is more likely to affect insurers such as Direct Line Group, RSA and Saga than price comparison site-based underwriters such as Admiral and Hastings, Peel Hunt has predicted.
Michael Sicsic, former head of supervision for general insurance protection at the Financial Conduct Authority, has joined start-up Spixii as an adviser to its directors.
After vacating our Haymarket office last week, the entire Post team finally feels settled in our new home in the City – the heart of the insurance industry.
Complaints about payment protection insurance increased 34% in the first half of 2019 in the run-up to 29 August deadline for refunds, according to figures released by the Financial Conduct Authority.
The Financial Conduct Authority has laid out actions it plans to take around climate change, including requiring listed firms to make climate-related disclosures.
The Financial Conduct Authority has issued a warning about scammers using an authorised firm’s name to trick consumers via a website.
European firms passporting into the UK need to notify the Financial Conduct Authority that they wish to enter the temporary permissions regime by 30 October in order to ensure they are able to continue operating in the event of no-deal Brexit, the…
An outright ban on dual pricing could be “catastrophic” for the industry, analysts warned, pushing smaller players out of the market, limiting competition and raising premiums across the board.