Regulation
Donald Trump and Elon Musk
Donald Trump’s re-election as US president, with Elon Musk as his right-hand man, created many challenges for the UK insurance industry.
Matt Brewis, FCA
The Financial Conduct Authority’s director of insurance, Matt Brewis, has the power to move the market but he hasn't shaken up the rules much – for better or worse – in the last 12 months.
Sam Woods, Prudential Regulation Authority
Sam Woods, CEO of the Prudential Regulation Authority, has soared up Insurance Post’s Power List 2025 by fearlessly pushing back against successive governments’ political posturing and understanding the burden of red tape.
Regulator consulting on ‘complete rewrite’ of climate expectations
The Prudential Regulation Authority has released a consultation paper setting out proposals on updated supervisory expectations for banks and insurers aimed at helping them “manage the effects of climate change”.
FCA’s premium finance conundrum: act or step back?
Editor’s View: With falling premiums, a stalled government motor insurance taskforce, and jittery markets, Emma Ann Hughes wonders if no action is now the most likely outcome of the Financial Conduct Authority’s premium finance market review.
National insurance hike tops concerns for SMEs
A survey from Towergate Insurance Brokers has revealed October’s National Insurance hike is among the top financial concerns of SMEs.
Insurance complaints take a slight dip
The Financial Conduct Authority’s latest data has shown insurance and pure protection complaints decreased 6% from 764,272 in the first half of 2024 to 718,496 in the second half.
Solvent exit planning: a crucial step for insurers
While the regulator has postponed the implementation date for the solvent exit planning rules for insurers to 30 June 2026, Sarah Ouarbya, partner for risk consulting and regulatory compliance at Forvis Mazars, warns providers shouldn't put off producing…
CII won’t budge on CPD requirements for insurers
The Chartered Insurance Institute has insisted it won’t alter its continuous professional development requirements for members, even if the Financial Conduct Authority axes its training demands.
Rental cover: who is it good for?
Whether rental protection should be the focus of regulatory scrutiny and if insurers are falling short on compliance is examined by Saxon East.
A spring loaded with employer challenges
The government’s Spring Statement in March was never going to introduce sweeping changes to taxes or major new legislation. However, it is April that has seen the implementation of significant measures announced in last October’s budget or before.
Consumer Intelligence CEO argues 0% APR insurance needs a rethink
Ian Hughes, CEO of Consumer Intelligence, argues how 0% APR on insurance may breach regulatory requirements as those paying annually are effectively being penalised for not taking out credit.
How Trump’s tariffs shook up insurers’ investment books
Darren Bustin, global head of solutions capabilities and insurance solutions at Schroders, has revealed how regulatory changes, Labour’s growth agenda plus US President Donald Trump’s trade tariffs have impacted general insurers’ investment books.
Insurers cover APR cuts by increasing instalment costs
Consumer Intelligence has uncovered evidence that insurers are reducing their advertised annual percentage rate for premium finance without reducing the actual cost of paying for home and motor insurance in instalments.
Rathi reappointed FCA CEO
Chancellor Rachel Reeves has reappointed Nikhil Rathi as CEO of the Financial Conduct Authority for a second term.
Rachel Lam named interim ombudsman MD
Rachel Lam is now interim managing ombudsman director of the Financial Ombudsman Service, as Jenny Simmonds and James Dipple-Johnstone temporarily step into the shoes of Abby Thomas.
Wave of cyber resilience legislation a boon to insurers
Forthcoming and recent legislation prescribing minimum cyber security standards for certain businesses and organisations will be welcomed by cyber insurers, experts have said.
How Brexit has affected the UK insurance market
Five years on from the UK exiting the European Union, David Worsfold examines if the insurance industry benefitted or received a blow from Brexit.
Why too little red pen in board reports is a red flag
After the FCA raised concerns about non-financial misconduct, Sophie Espinasse, head of client learning at Konexo, warns too little red pen in board reports should be a red flag to them as they seek to crack down on bad apples in their organisations.
Employment law update
The upcoming changes to employment law in the UK for 2025 are set to bring significant transformations to the workplace and have far-reaching consequences for businesses.
FCA prioritises innovation and fighting crime in latest strategy
The Financial Conduct Authority has this morning (8 April) set out its latest work program for the 2025/26 period.
PRA launches consultation to help insurers rapidly invest
The Prudential Regulation Authority has outlined plans for a matching adjustment investment accelerator to reduce the barriers to rapid investment insurance firms face.
MP says social media firms in ‘last chance saloon’ over ad spoofing
Both social media firms and insurance companies must do more to tackle ghost broking, Luke Charters, MP for York South told the Association of British Insurers’ fraud conference.
FCA premium finance crackdown saves consumers £100m
Since the the Financial Conduct Authority’s head of insurance Matt Brewis labelled premium finance a “poor product”, car and home insurance customers have saved more than £100m in the last year after insurers reduced how much they charge policyholders…