The Financial Services Compensation Scheme has forecast that the failures of Qudos Insurance in December 2018 and Lamp Insurance in May last year will cost £12.4m this financial year.
The Financial Services Compensation Scheme has proposed a levy on general insurance providers of £118m for 2020/21, down £47m on the budget for the current year.
Ozlem Gurses, reader in insurance and commercial law at King’s College London and British Insurance Law Association committee member, asks if the oversight of insurtechs is keeping up with the potential damage to consumer protection that new technology…
Go Compare has called for a doubling of the cooling off period for auto-renewals from 14 to 28 days during which time insurers should take “all reasonable steps” to make customers aware their insurance has been auto-renewed.
It’s 2020 so paying lip service to protecting vulnerable customers just doesn’t cut it, in any industry says Peter Thompson, CEO for insurance, distribution and outsourcing at BGL Group.
The Chartered Insurance Institute is ready to be held to account, having rolled out its priorities for refreshing corporate chartered status last year, professional standards director Melissa Collett told Post.
With the holiday break over, this week has seen people across the UK – some somewhat sluggishly – get back to business.
Several “significant” key risks of harm have been highlighted by the Financial Conduct Authority in an update to insurer boards.
Unrated Danish Gefion Insurance has been ordered by the Danish Financial Supervisory Authority to publish information supplementing or correcting the company’s 2018 annual report, after it was adjudged to have wrongly recognised the value of a…
The Chartered Insurance Institute has urged regulators to take caution as they adopt an increasingly data-driven approach to policing the financial services sector, warning “digital breadcrumbs” can’t replace human insight.
The Financial Conduct Authority has refreshed its Data Strategy, first published in 2013, and set out a “transformation plan” to become a highly data-driven regulator.
Insurance firms must be proactive in tackling “unhealthy” culture issues and misconduct, the Financial Conduct Authority has warned CEOs.
The International Underwriting Association is establishing a new market group to examine the growing impact of climate change policies on a range of insurance activities, including investment, underwriting and risk management, as part of its business…
The Financial Conduct Authority levelled £392.3m of fines last year including one in the general insurance sector and its first against a claims management company.
Fifteen months ago Claudio Gienal stepped up to the role of CEO of Axa UK and Ireland, but he’s taken his time to reveal his strategy for the firm. He spoke to Stephanie Denton about why clarity, diversity and adding value really matter to him
Government flood review should focus on improving under-insurance as insurers will resist floodplain extensions
Insurers will support the government's investigation into insufficient insurance cover in the recent Yorkshire floods but will resist any attempts to widen Flood Re to cover recent floodplain developments, the Association of British Insurers has said.
Former Sabre chairman Keith Morris has been made an Officer of the Order of the British Empire in the New Year Honours List.
The government is set to investigate the extent to which those affected by the recent flooding in Yorkshire did not have sufficient insurance cover.
The Prudential Regulation Authority has rolled out special requirements for Lloyd’s after it emerged that the only anonymous whistleblowing channel for the corporation’s staff did not work for over a year.
The market has hailed Andrew Bailey as having run a steady ship at the Financial Conduct Authority and congratulated him as he heads to the Bank of England to replace Mark Carney.
The regulator has noted concern that competition isn’t working well for all consumers in the house and motor markets but Tony Tarquini, director of insurance for Europe, the Middle East and Africa at Pegasystems, believes a ban on automatic price rises…
Though a new decade and the opportunity for new beginnings are now firmly in view, this week proved that 2019 still has some endings to get out of the way first.
Andrew Bailey, CEO of the Financial Conduct Authority, will take over from Mark Carney as governor of the Bank of England in March.
The government will take steps to ensure long-term market access for UK and Gibraltar financial services firms, according to a Queen’s Speech briefing document.