The introduction of further guidance on premium finance by the Financial Conduct Authority including three month payment deferrals for customers hit by the economic impact of the coronavirus pandemic has gone well according to market players.
The Financial Conduct authority has confirmed temporary measures aimed at helping insurance customers who find themselves in financial difficulty due to the coronavirus pandemic, including requiring payment deferrals.
The British Insurance Brokers’ Association and premium finance providers have warned of a possible hit to broker solvency in the event of bad debts under the proposed guidance issued by the Financial Conduct Authority last week.
The Financial Conduct Authority has decided not to change the rules for premium finance as part of its guidance on temporary financial relief for consumer credit customers which came into force today.
The Financial Conduct Authority has proposed a range of stop-gap measures to help consumer credit customers manage the financial hit from the coronavirus pandemic.
Post Office Insurance has teamed up with Ageas on an exclusive five-year deal for home insurance.
Exclusive: Premfina is no longer funding premiums for unrated Danish insurer Gefion.
Helios has (almost) done his work and got the week done. Probably because he has an oven ready plan. To leave the working week and enter the weekend.
Unrated Danish insurer Gefion Insurance must have liquid assets of at least €5m by the end of the year amid fears by the regulator that the company has “serious liquidity problems.”
Premium Credit has appointed James Wilson as chief risk officer.
Premium Credit has appointed Tara Waite as CEO, replacing Tom Woolgrove.
Insurance customers are increasingly relying on credit to pay premiums, with nearly one in three planning to use more credit this year, research found.
The penetration of premium finance into the SME market has been stuck stubbornly in the 40% to 45% range for many years. Could that be about to change as slicker offerings from the main providers and new entrants hit the market just at a time when small…
More than one in five employees say their employers are stockpiling as a contingency against Brexit-related disruption, with these businesses at risk of being underinsured unless they ensure their cover is brought into line with the value of their…
Company directors could face legal action if they fail to prepare adequately for a no-deal Brexit, with limitations to directors and officers cover meaning they could find themselves personally liable.
My first three weeks reporting on the insurance industry has taught me how broad the sector is. Covering the claims beat I'm expecting to be learning more about escape of water, floods and storms. Our Top 100 UK insurers ranking has already shown me how…
Exclusive: Brokers have been seeking alternative premium finance partners as backup in the wake of the Premium Credit outage.
Hundreds of customers have been unable to secure premium finance after the UK’s largest provider saw its services go offline following a “cyber incident”.
Premium Credit has appointed Duncan Gray as chief information officer.
Towergate is extending its contract with Premium Credit for a further five years.
Premium Credit has appointed Mark Dearnley as its chief information officer.
Tom Woolgrove, former managing director of UK personal lines at Direct Line Group, will become Premium Credit CEO this month, replacing Andrew Doman.
The Financial Conduct Authority has found insurers and brokers do not always provide customers with clear information about payment options for general insurance products.
European private equity firm Cinven is to acquire UK finance provider Premium Credit for £462m.