Financial Conduct Authority (FCA)
Regulators consult on impact of climate change on insurers
The Prudential Regulation Authority and Financial Conduct Authority have both invited insurers to respond to consultation papers on the impact of climate change on their operations and investments.
Blog: Mark Wilson the surefire hit as Aviva CEO, who lost the trust
Following yesterday's announcement by Aviva that Mark Wilson is to step down as group CEO of Aviva, Jonathan Swift reflects on why the move was not such the "shock" some painted it as.
Interview: Chris Lay, Marsh
Chris Lay enjoyed his time in Canada but Marsh’s new UK and Ireland CEO has no doubt that London is the place to be. “The UK is a priority for Marsh,” he told Cecile Brisson, just before the world’s biggest broker bought off London-based broker Jardine…
Marsh UK CEO defends broker facilities amid FCA's market-wide probe
The CEO of the UK's largest broker has defended broker facilities, amid an official probe into allegations the practice is anti-competitive.
Analysis: How regulation could clip the wings of CMCs
In six months’ time, claims management companies will fall under the umbrella of the Financial Conduct Authority.
This week in Post: Swipe right for Swinton
As Swinton meets its match in Ardonagh, the insurance courtship game has continued to hit headlines.
Dual pricing complaint likely to result in ‘significant market change’
The super complaint over dual pricing is likely to result in “serious and profound” change in the insurance market, analysts believe.
Consumer 'super complaint' forces investigation into dual pricing
Consumer champion Citizens Advice has submitted a super complaint to the Competition and Markets Authority over the “loyalty penalty” in insurance, forcing an investigation.
Supply chain focus: How TPAs view the changing landscape
Supply chain procurement continues to evolve against a backdrop of consolidation among both insurers and third party administrators. Edward Murray looks at how tendering is changing from the demands on suppliers to the length of partnerships
CMCs look elsewhere as industry calls time on travel claims 'epidemic'
The epidemic of holiday sickness claims might be over, but insurers have been warned claims management companies are already moving into new areas to make up for the shortfall in revenue.
Insurers will not be forced to pass on whiplash savings
Insurers will not be required to pass on savings from whiplash reform to customers, but they will have to report what those savings are.
Blog: The gaping hole in the FCA regulation of CMCs
The Financial Conduct Authority’s consultation into claims management companies has a gaping hole, warns Kurt Rowe, associate at Weightmans, explaining why it matters for insurers.
Insurers welcome government crackdown on 'cold call sharks'
Insurers have welcomed rules aimed at limiting claims management companies from calling vast swathes of the population.
Insurers to be held to account over whiplash savings
A government amendment to planned personal injury reforms could see insurers have to prove to the regulator that they are passing on savings to customers.
BGL's Peter Thompson on the unintended consequences of the IDD
The Insurance Distribution Directive brings transparency but also unintended consequences for customers, writes Peter Thompson, group director of insurance distribution and outsourcing at BGL Group.
Commercial insurance fraud: Improving detection
There might be disagreement as to how large the gap is between the resources committed to combatting commercial fraud when compared to personal lines – underlined by the recent Post/Crif research. But, there is at least some consensus around a lack of…
Claims management company posing as ABI to scam public
The Association of British Insurers has issued a warning after scammers from a claims management company posed as the body in cold calls to members of the public.
This week in Post: One every minute
For those of us back in the office while the holiday season continues it might seem like time is moving slowly but the Association of British Insurers revealed this week that for every minute we count down until silly season is over and the out of office…
Regulation of CMCs to cost £16.8m
The cost of regulating claims management companies could be £16.8m with the bill falling on the firms themselves, according to the Financial Conduct Authority.
Blog: Open banking offers a new insurance distribution channel
Some might have already labelled it a failure but open banking will continue to evolve and insurers should sit up and take notice. That is the view of The Marketing Eye's Neil Edwards, who believes these platforms could eliminate form filling and make…
This month in Post: The great summer recess
It’s that time of year again. The trains are relatively empty, and out of office replies are basically a given.
Interview: Jonathan Davidson, Financial Conduct Authority
Insurance has come under fire for the way it prices policies. Jonathan Davidson, director of retail at the Financial Conduct Authority, discusses the problem with Martin Croucher
Primary and Arch back Q3 launch of McNamee's insurtech C-Quence
Insurance investment vehicle Primary Group has today been revealed as the backer for the new digital-enabled managing general agent to be launched by former AIG UK CEO Jacqueline McNamee in autumn this year.
This week in Post: Insurance industry captures the heart and mind of at least one Millennial
Two years ago, when I told my friends that I got a job as an insurance journalist, they were baffled. They still are.