Regulation
Industry questions FCA proposal that firms should publish claims ratio data
Regulator suggests a range of remedies relating to the sale of add-on products.
Editor's comment: Add-on agony advances
The insurance industry is no stranger to damning verdicts and this week’s, in the form of a report into the level of competition in the add‑ons market, must come as no surprise.
Omnibus II passed by European Parliament
The final obstacle to Solvency II implementation looks to have been passed after the European Parliament adopted the Omnibus II Directive today.
ABI calls for market specific look into add-ons
The Association of British Insurers has criticised today’s Financial Conduct Authority report into general insurance add-ons as being “generic” and is calling for the regulator to take a market specific approach.
More self-insurance schemes likely after FCA add-ons report
The Financial Conduct Authority report released today on general insurance add-ons could see the establishment of alternative forms of self-insurance, according to EY.
FCA must pursue ‘big boys’ first on add-ons
A compliance expert is calling for the Financial Conduct Authority to pursue the “big boys” first on general insurance add-ons mis-selling and demand retrospective action where mis-selling has taken place.
FCA plans overhaul of GI add-ons market
The Financial Conduct Authority has unveiled a shake-up of the £1bn general insurance add-on market after a study delivered a damning verdict on the level of competition within the sector.
Access BI likely to lose regulatory approvals next week
Specialist managing general agent Access BI is likely to see its regulatory permissions revoked after Post’s sister title Insurance Age revealed it was under regulatory investigation.
Former Lloyd’s CEO Prettejohn steps down from PRA
Former Lloyd’s chief executive and Brit chairman Nick Prettejohn is to step down from the board of the Prudential Regulatory Authority.
Editor's comment: A humane culling
Personal lines insurers and brokers have had enough. They have taken it lying down for too long and now they are making a stand and fighting back.
Indian opposition to consider increase in foreign investment cap
As Indian political elections loom, the opposition party has pledged to consider raising the foreign investment cap in insurance from 26% to 49%.
Editor's comment: Motor: A third way?
Motor has long been a special case in the world of insurance. It is a compulsory purchase that most customers hope to never use.
C-Suite – Insurer: Regulation through collaboration
All parties have a role to play in order to achieve improved regulation of the motor insurance market.
MGA’s hear Lloyd’s plans for delegated authority business
Managing General Agents yesterday heard how regulation will impact the way they do business in the future.
Europe: Clearing up confusion
A mid-January decision to amend the European Union's Insurance Mediation Directive - set to come into force in 2016 - through a revised Markets in Financial Instruments Directive has generated much confusion.
Lloyd’s vs Asia: Is London losing its crown?
Could factors including economic growth in the East and increasingly burdensome UK regulation see Lloyd’s Asian hub in Singapore oust its London counterpart as the global centre of insurance?
C-Suite: Rising to the network challenge
Over the past few years the phrase ‘facing challenges’ has become synonymous with the network model, and there is no doubt the Broker Network, like many others, has had to adjust its approach to ensure its proposition remains relevant.
FCA launches compensation scheme for CPP mis-selling
The conduct regulator is predicting a redress bill of up to £1.3bn as it announced today a compensation scheme for consumers who were mis-sold card or identity protection products would start in mid-February.
C-Suite: Asian regulation
For insurers 2013 was another year of significant regulatory activities. Almost all important insurance conferences cited regulations as one of the key challenges facing the industry.
FCA issues warning on clone firm LGS Commerce Insurance
The Financial Conduct Authority has issued a warning on a clone insurer using the details of marine underwriter Sunderland Marine Mutual Insurance Company.
Insurance Fraud Register Ready for lift off
First formulated in 2009, the Insurance Fraud Register is finally ready for launch. Will it create a sea change in the way the industry tackles fraud?
Horsemeat Scandal: Making hay
The horsemeat crisis first hit the news in January 2013, leading to more regulation in the food industry. However, not all cases resulted in litigation
Trade Voice: Standards drive needs unified voice
The new year has seen a significant raising of the volume in the debate around standards and professionalism.
Post magazine 2015 features list
Since January 2012, Post magazine has been running its features on a monthly, rather than an annual basis. For updates contact commissioning editor Rachael Adams.