Regulation
City minister Siddiq is replaced by Reynolds
Less than 24 hours before she was due to appear at the British Insurance Brokers’ Association’s Manifesto launch, Tulip Siddiq has resigned as Treasury minister and been replaced by Labour MP Emma Reynolds.
Sign up for webinar on managing the growing regulatory burden
A recent survey highlighted the increasing strain the insurance market is under.
Four biggest challenges facing insurers in 2025 revealed
To get you ready for the next 12 months, Insurance Post uncovers four things you need to know about what 2025 holds in store for the industry, according to analysts.
Why more insurers should support vulnerability database
Martyn Mathews, managing director of SSP Broker, urges insurers to support the Vulnerability Registration Service, which enables consumers to confirm they are vulnerable allowing providers to ensure they are treated appropriately.
Impact of foreboding on the forecourt on insurance
Jeremy Irving, partner at Browne Jacobson, unpicks the potential impact of a Court of Appeal ruling on commission disclosure for the general insurance industry.
Regulator delays general insurance stress test
The Prudential Regulation Authority has postponed the dynamic general insurance stress test launch as switching from Solvency II to Solvency UK reporting requirements mean providers have enough on their plate in 2025.
Insurance Post’s Christmas Special Podcast
Post content director Jonathan Swift, news editor Scott McGee and Emma Ann Hughes, editor, ditch the usual format of our publication’s award-winning podcast to deliver a holly, jolly Christmas Special.
FCA reviews leave insurance firms with hefty bill
A recent freedom of information request by Sicsic Advisory has revealed insurers and intermediaries paid a total of £2.7m for FCA-commissioned skilled persons reviews in the latest financial year.
Transport Secretary Haigh quits over phone offence
Louise Haigh has resigned as transport secretary after pleading guilty to a criminal offence related to incorrectly telling police that a work mobile phone was stolen in 2013.
Insurer CEOs focusing on cost cutting rather than diversity
Reboot’s 2024 Race to Equality report has found that budget cuts are the biggest contributing factor to the slowing down or silencing of diversity efforts.
Why the regulator shouldn’t be painted as a panto villain
James Daley, managing director of Fairer Finance, reacts to recent rabble rousing calls for a regulatory bonfire and urges the industry needs to get behind the watchdog rather than painting them as the panto villain.
FCA softens enforcement transparency plans following feedback
The Financial Conduct Authority has today opened up its second phase of consultation surrounding its plans to name firms into which it opens up investigations.
FCA to reduce costs after ‘open cheque book’ feedback
The Financial Conduct Authority plans to reduce regulatory costs, in response to feedback that it treats the industry like an “open chequebook”.
Mandatory qualifications will safeguard the future of insurance
Given the regulator’s role in safeguarding consumers, Crescens George, CEO of Wiser Academy, wonders why the Financial Conduct Authority hasn't already stepped in to mandate higher qualification standards for the insurance sector.
Checking the price is right for insurance
Emma Ann Hughes examines how to prove the price is right of cover for different segments of consumers and observes it requires a whole lot more than just knowing the cost of delivering insurance products and services.
Government to consult on leasehold commission ban
In a written statement published yesterday, the Minister of State for Housing, Communities and Local Government has said the government “will go out to consultation very shortly on the detail of the Act’s ban on buildings insurance remuneration”.
ABI’s Gurga urges regulators to slash red tape
Hannah Gurga, director general of the Association of British Insurers, has urged the government and regulators to grab Alexander the Great’s sword and slash through the Gordian knot of regulation.
How to support vulnerable insurance customers
Steps insurers should take to understand the needs of customers in vulnerable circumstances and ensure their products and services are suitable are outlined in the latest Insurance Post Podcast.
UN insurance head highlights transition plan shortage
Butch Bacani, head of insurance for the United Nations Environment Programme, has said there are currently not enough underwriting transition plans in the insurance industry.
PRA finally throws Solvency II on Brexit bonfire
Four years after the Conservative Party promised a Brexit dividend for insurers, the Prudential Regulation Authority has published the set of rules that will replace the European Union’s Solvency II requirements.
Reeves announces consultation on UK captives regime
Rachel Reeves has announced a consultation on a new approach to regulating UK captive insurers in her first Mansion House speech as Chancellor of the Exchequer.