Editor's Picks: CII clashes, a bonfire of Brexit red tape & cyber criminality
As we approach the end of a non-stop January, the headlines that caught your attention on Insurance Post this month give a distinct flavour of what the rest of 2023 may hold in store for the industry.
Emma Ann HughesDirect Line’s CEO stepping down after the insurer’s shares took a nosedive, court rulings with ramifications for the industry, clashes at the Chartered
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More on Regulation
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.
ESG that stands up in tougher times
At a recent Insurance Post roundtable in partnership with CRIF, leading insurers and ESG specialists explored how the industry is translating sustainability goals into measurable progress – and what it will take to keep that momentum in tougher times.
FCA proposes ESG ratings overhaul worth £500m
The Financial Conduct Authority has published a consultation for environmental, social and governance ratings, which is estimated to deliver £500m in net benefits over the next decade.
Hidden risks in insurers’ culture and misconduct data
Insurers are under growing regulatory pressure to treat non-financial misconduct as a core conduct risk, according to Loka Venkatramana from Pathlight Associates, who says they should use cultural and behavioural data with the same rigour as financial metrics to identify and address problems before they damage customers, staff or the market.