Trade body hits out at FSA as members' insurance sales drop
The Financial Services Authority's insurance regulations could change the face of the motor insurance market as we know it, threatening motor retail business and restricting consumer choice,' according to the Retail Motor Industry Federation (RMIF).
Chief executive Matthew Carrington spoke as the RMIF published the results of a survey of motor retailers, which asked how the new regulations have affected their businesses.
"The results of this
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Regulation
FCA partly rebuffs Which? but widens insurance crackdown
The Financial Conduct Authority has pushed back against parts of Which?’s super complaint about home and travel insurance, but accepted there are clear weaknesses in the market that require further regulatory action.
Motor Insurance Taskforce report proves providers call the shots
Deputy Editor’s View: Scott McGee observes the Labour government’s motor insurance taskforce report felt more like a victory for industry lobbying than for politicians or drivers.
FCA tries to clarify bullying and harassment standards for insurers
The Financial Conduct Authority has issued final guidance setting out how insurers must address bullying, harassment and violence, after 95% of consultation respondents called for further clarification.
Government admits motor taskforce suggestions ‘unlikely to reduce premiums’
The findings of the government’s Motor Insurance Taskforce have been published today (10 December), outlining its suggestions on how to bring motor premiums down.
FCA trims insurance rules but pace criticised by market
The Financial Conduct Authority today (9 December) confirmed plans to simplify its insurance rules, but industry reaction suggests the changes don’t go far or fast enough.
ABI says Which?’s complaint evidence ‘doesn’t reflect reality’
Trade Voice: Chris Bose, director of general insurance and international at the Association of British Insurers, responds to concerns raised by Which? and sets out why practical, proportionate reforms are essential to strengthen trust in the market.
Regulators outline plans to grow UK mutuals sector
A package of measures aimed at accelerating the growth of the UK’s mutuals sector has been unveiled by the Financial Conduct Authority and Prudential Regulation Authority.
FCA mandates vulnerable customer complaint reporting
The Financial Conduct Authority has introduced the requirement for firms to report complaints involving customers in vulnerable circumstances.