United Kingdom (UK)
'Challenging' changes ahead under consumer duty
The Financial Conduct Authority’s consumer duty proposals are set to 'change the face' of the consumer financial services market, experts have said.
Interview: Johnny Timpson
Post meets Johnny Timpson, the driving force behind the Access to Insurance Working Group, which led to the creation of the British Insurance Brokers’ Association’s Access to Insurance Committee launched last summer.
FCA's consumer duty to cost firms up to £2.4bn
The Financial Conduct Authority has estimated that businesses will face a one-off bill of up to £2.4bn to comply with its proposed consumer duty rules, with ongoing annual direct costs of up to £176m.
FCA unveils consumer duty 'to drive a fundamental shift in industry mindset'
The Financial Conduct Authority has opened a consultation on the introduction of a consumer duty highlighting its concerns that financial services do not currently always work well for consumers.
ABI adds Colm Holmes and Clare Bousfield to board
The Association of British Insurers has added Allianz UK CEO Colm Holmes and Clare Bousfield, managing director for retail and savings at M&G, to its board.
Aston Lark’s Peter Blanc on why tough conversations are the most important ones with clients
Peter Blanc, group CEO of Aston Lark, warns against taking the “easy road” in client conversations urging the industry to focus on the right claims outcomes with risks and risk mitigation instead of premiums at the top of the renewal agenda.
Intelligence: The supply chain crisis – why the insurance lifeboat can’t take all
Supply chain issues have made headlines recently as backlogs at ports build up and in some cases large ships are turned away. These are unprecedented times but as Rachel Gordon finds out insurance is only part of the solution
FCA launches consultation on improving AR regime
The Financial Conduct Authority has launched a consultation on improving the appointed representatives regime and tackling harm from this model.
Marsh appoints head of climate and sustainability insurance innovation
Marsh has appointed Ryan Bond as head of climate and sustainability insurance innovation effective 1 January 2022.
Ex-Morrisons and Poundland chairman Andy Higginson to chair Ardonagh Retail
Ardonagh Group has appointed the former chair of Morrisons and Poundland Andy Higginson as chairman of Ardonagh Retail.
Penny Black's Social World: December 2021
From COP26 and climate commitments to charity donations.
Q&A: Nicolas Aubert, formerly WTW GB CEO
Exclusive: Now on gardening leave after almost 18 months of caretaking in his role as Willis Towers Watson GB CEO, Nicolas Aubert speaks to Stephanie Denton about the collapse of the Aon deal, not being chosen to manage the firm and what he achieved…
Top 50 Reinsurers 2021: Global reinsurance segment marked by stability and uncertainty
Diversification into primary insurance leads to shuffle among the world’s largest reinsurance groups AM Best's Catherine Thomas and Mathilde Jakobsen explain.
HMRC's IPT decision hailed as good news for brokers
Her Majesty’s Revenue & Customs has opted against making brokers liable for any unpaid Insurance Premium Tax where they used IPT unregistered insurers and against introducing IPT on brokers’ administration fees.
Christmas party warning in wake of Omicron Covid variant
While insurance lawyers believe a rash of Covid-related claims from Christmas parties is "unlikely", employers have been warned to proceed with caution as the Omicron situation emerges.
Analysis: Astroworld - liability and legacy
The Astroworld tragedy could have a lasting impact on US legislation, experts have predicted, as a liability battle around the fatal event emerges.
Interview: Tara Foley, Axa
After a year in the role as CEO of Axa Retail, Tara Foley sat down with Pamela Kokoszka to discuss her impression of the insurance industry, challenges the sector is facing and her plans for Axa’s retail business.
Aviva recruits Waseem Malik from Axa as chief claims officer
Aviva has appointed Waseem Malik as chief claims officer for UK & Ireland general insurance.
Andrew Wallin on turbo-charging Ardonagh Specialty
The completion of Ardonagh’s $500m (£374.4m) takeover of the insurance operations of BGC Partners will turbocharge the business, according to Ardonagh Specialty CEO Andrew Wallin.
MS Amlin Underwriting names Amir Sethu as head of sustainability and ESG
MS Amlin Underwriting has appointed Amir Sethu to the newly created role of head of sustainability and ESG.
RSA’s Mandy Hunt on bringing through the next generation
Mandy Hunt, chief underwriting officer for commercial lines at RSA and chair of the Chartered Insurance Institute’s Society of Underwriting Professionals, looks at the challenges and actions needed to make insurance a career of choice and attract the…
Claims volumes surge as a result of Storm Arwen
Insurers have received thousands of claims as Storm Arwen brought 98 miles per hour winds causing power cuts and travel disruption across the UK.
FCA streamlines decision making process to prevent consumer harm
As part of its transformation to become a more innovative and assertive regulator, the Financial Conduct Authority has confirmed more decisions will be taken by its senior managers than by the Regulatory Decisions Committee.
Jaime Swindle moves to Geo as Scott Bennett steps up at Bravo Networks
Jaime Swindle is joining the leadership team at Geo Underwriting with Scott Bennett taking up the post of managing director of Bravo Networks, Ardonagh has confirmed.