Regulation
Claims ‘hell’ with Policy Expert causes mother to set up group
A mother-of-two, who has been through a 17-month battle with Policy Expert following a fire at her home, has set up an action group to help “other families going through hell with claims.”
Why EU’s rules represent critical cyber milestones for insurers
Given today’s interconnected insurance ecosystem, Thomas Brogger, regional vice president of Sapiens, recommends providers pay close attention to the European Union's Digital Operational Resilience Act before it takes effect in January 2025.
Crunch time for insurers’ Consumer Duty reports
One year on from the introduction of the Financial Conduct Authority’s Consumer Duty requirements for open products, Emma Ann Hughes investigates whether insurers will get a pat on the back or a clip round the ear from the regulator when they hand in…
Consumer Duty fails to improve insurance customer’s experiences
Most general insurance customers have seen zero improvement in service from general insurance providers since the implementation of the Financial Conduct Authority’s Consumer Duty a year ago, with some even saying things have gotten worse, research has…
Better motor claims are no accident
The new Consumer Duty requires insurers to ensure reliable replacement vehicle offerings with dependable secondary suppliers, consistently meeting consumer expectations.
How can insurance providers overcome compliance barriers and leverage technology to thrive in the face of regulatory pressures?
This research report explores the challenges posed by the ever-evolving regulatory landscape, the transformative impact of RegTech and how your organisation can stay ahead of the curve.
Which? demands FCA action over ‘widespread’ claims-handling failures
Consumer champion Which? has launched a new campaign to end “the insurance rip-off” and has called on the Financial Conduct Authority to take tough action against claims handlers who fall short of the regulator’s required standards.
ABI outlines plan to help Labour achieve green energy goals
The Association of British Insurers has published a 10-point action plan for green investment, matching Labour's green energy plans.
FCA issues warning as it continues to identify ‘low value’ products
The Financial Conduct Authority has identified further “low value” insurance products, the regulator’s head of market interventions for insurance has said.
MP’s accusation of insurers being racist that you should be aware of
Editor’s View: If the insurance industry truly wants to attract more Black, Asian and minority ethnic minority individuals, Emma Ann Hughes argues it must do a better job of proving it isn’t racist.
Which? demands action against insurers that are poorly handling complaints
Rocio Concha, director of policy and advocacy at Which?, urges the regulator to hold the insurance firms’ feet to the fire for causing customers unfair delay or distress.
Axa calls on Labour government to improve road safety
Alain Zweibrucker, retail CEO of Axa UK, has led calls for the new Labour government to follow the European Union’s lead and introduce vehicle safety regulation to slash the number of road accidents.
What Labour’s landslide victory means for insurance
Sir Keir Starmer, the nation’s new prime minister after Labour’s landslide general election victory, as well as key insurance industry figures, have the same message: “change begins now”.
IUA’s Matcham on making the regulators see sense
Trade Voice: Dave Matcham, CEO of the International Underwriting Association, gives examples of where the trade body’s submissions to regulators have borne fruit for its members.
Simplifying holiday pay: Government changes to holiday pay and entitlement
On 1 January 2024, the government introduced changes to the Working Time Regulations which aimed to simplify holiday entitlement and holiday pay calculations.
The biggest questions that insurers face about their use of artificial intelligence
This guide created by Mind Foundry, investigates the biggest questions that insurers face about their use of artificial intelligence, and why now is the time to embrace the concept of AI governance.
Regulators challenge two thirds of GI firms on operational plans
Two thirds of general insurance firms have been challenged by regulators on their work to come into line with operational resilience regulations during the last 12 months, a benchmarking exercise by Sicsic Advisory and Oric International has revealed.
FCA demands insurers up their Consumer Duty monitoring game
With just a month to go until insurers need to file their first Consumer Duty annual board report, the Financial Conduct Authority has raised concerns about how providers are monitoring customer outcomes.
Insurtech UK demands MPs tackle barriers to insurtech growth
Insurtech UK has called on the government to tweak regulation to help start-ups and outlined ways to boost the funding available to scale-up more businesses to Lemonade-like proportions.
How the FCA aims to stamp out toxic workplace cultures
Thomas Beale, partner and head of the bullying and harassment team at Bolt Burdon Kemp, examines how the Financial Conduct Authority’s rules for non-financial misconduct are set to change plus the ramifications for the insurance industry.
Tackling turbulence for pet insurers
Pet insurance premiums remain approximately 20% higher than 12 months ago, whilst pet insurers are also facing regulatory scrutiny.
Diary of an Insurer: Ecclesiastical’s Laura Carter
Fair value assessments, London landmarks, plus a fish and chip supper with the underwriting department feature in the working week of Laura Carter, customer segment director of Ecclesiastical Insurance.
Zurich’s Jones on importance of ethical use of AI
Penny Jones, ethical governance lead for AI and analytics at Zurich, examines striking the right balance between ensuring responsible use of AI and enabling innovation.
Leveraging AI to accelerate decarbonisation in insurance
Andy Waring, head of intermediary at Stubben Edge, examines how artificial intelligence could help insurers achieve their Net Zero goals.