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A step toward smarter, proportionate insurance rules

Mike Keating

Trade Voice: Michael Keating, CEO of the Managing General Agents’ Association, feels the regulator's plan to simplify insurance rules will ease the burden of red tape for the trade body's members.

The Financial Conduct Authority’s latest consultation paper, CP25/12: Simplifying the Insurance Rules, represents a significant step toward achieving proportionate, flexible regulation that recognises

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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.

Why Which? submitted an insurance super-complaint

Rocio Concha, director of policy and advocacy at Which?, explains why the consumer watchdog launched an insurance super-complaint in response to persistent failures in claims handling and inadequate regulatory action and argues the system meant to protect customers urgently needs reform.

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