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FCA remains a work in progress

Chris Croft

Trade Voice: Chris Croft, CEO of the London and International Insurance Brokers’ Association, says that while the regulator has made strides towards its new objectives, further cultural change is needed.

In June 2023, the latest Financial Services and Markets Act received Royal Assent. Among its many provisions was a new secondary objective for Financial Conduct Authority to facilitate both the

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Storm damage claims test insurers’ settlement choices

A year of severe storms has strained repair networks and claims operations, which Ben Blain, head of property at Verisk Claims, points out has placed insurers’ settlement decisions, data oversight and ability to evidence fair customer outcomes firmly under the regulatory spotlight.

How should success of FCA’s response to Which be judged?

The effectiveness of the Financial Conduct Authority’s regulatory action in response to Which’s super-complaint about home and travel insurance is reflected in smoother claims handling, not in the number of reviews or fines, according to Claire Massey, founder of Claim Guardians.

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