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.
Insurers, brokers, premium finance lenders and more have been told by the Financial Conduct Authority to consider giving payment deferrals and refunds as well as waiving cancellation fees to customers hit financially by the coronavirus epidemic.
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…
Alan Leach explains the methodology behind the Top 50 UK Brokers and takes a look at the rankings in detail
Ryan Direct Group and Close Brothers will enter an exclusive contract in the home SME and motor books for a further three years.
The peer-to-peer lending trend has hit the premium finance market with Bexhill UK launching the Orchard Lending Club.
Premium finance provider Bexhill has launched the market's first broker-funded direct premium finance facility.
The Financial Conduct Authority has been accused of failing to address consumer buying behaviour in the findings of its premium finance thematic review, which singled out insurers and brokers for criticism.
The Financial Conduct Authority has found insurers and brokers do not always provide customers with clear information about payment options for general insurance products.
Software company Applied Systems has agreed a partnership with Close Brothers Premium Finance to integrate premium finance products into Applied’s management system TAM.
European private equity firm Cinven is to acquire UK finance provider Premium Credit for £462m.
Markerstudy has appointed Premium Credit as its retail division premium finance partner.
Close Brothers Premium Finance CEO Janet Wilson has been replaced by the chief operating officer of the firm’s banking division Sharon Bishop with immediate effect.
Almost a third of Britons have cut back on their insurance purchasing because they could not afford it, according to figures from Close Brothers Premium Finance.
More than a quarter of people have cut back on their insurance cover in the past 12 months because they could not afford it, according to research from Close Brothers Premium Finance.
Premium finance provider Bexhill has reported a nearly 10% increase in lending on the same period last year.
Bexhill UK has launched a premium finance solution for small-medium sized insurance brokers.
Whistleblower says ‘nearly all’ big brokers are shortchanging their customers
Premium finance firm Bexhill has completed agreements with four brokers based in Bristol, East Anglia, London and Wales.
Regulation is a good thing, but it must be proportionate and appropriate.
Premium Credit chief executive Andrew Doman has outlined his strategy to double broker penetration in 2013.
The British Insurance Brokers Association has extended its endorsement of premium finance scheme provider Premium Credit for a further three years.