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Florida officials announce $4.5m insurance settlement

Insurance giant ACE has agreed to pay a $4.5m settlement to a US multi-state task force to resolve allegations of bid-rigging and price-fixing in the US commercial insurance market.

The case was brought against ACE in Leon County Circuit Court in Florida by Florida’s chief financial officer Alex Sink, attorney general Bill McCollum and insurance commissioner Kevin McCarty.

The

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FCA vows to keep pressure on premium finance APRs

The Financial Conduct Authority has said it will “continue to put pressure” on companies offering premium finance in a bid to continue lowering annual percentage rates after revealing the impact its enforcement action has had so far.

FCA’s Knight insists CPD changes are not a relaxation

The Financial Conduct Authority’s decision to ditch its 15-hour-per-year continuing professional development requirement for insurers should not be viewed as a relaxation of standards, according to the regulator’s director of insurance, Chris Knight.

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