Regulation
Analysis: Is the IPT review another disappointment?
The government has promised to review the application of the Insurance Premium Tax. But does the planned review go far enough?
Interview: Dominic Clayden, Motor Insurers’ Bureau
The newly appointed CEO of the Motor Insurers’ Bureau discusses modernisation, Brexit, whiplash portals, and Lewis v Tindale with Martin Croucher
Danish regulator disputes Gefion’s reported 130% solvency ratio, dropping it to 105%
The Danish Financial Supervisory Authority has pegged Gefion’s solvency ratio as just 105% at May 2019, rather than the 130% the company has claimed.
Scammers used UK General's name to target unwary consumers
A clone firm has been masquerading as UK General, the Financial Conduct Authority has warned.
This week: heatwave, hurdles and honours
Our neighbours in France may have hit their highest ever recorded temperature this week as the heatwave that struck Europe saw schools closed, but Post revealed motorists holidaying there will not be able to claim compensation if they are struck by an…
Tulsi Naidu appointed chair of FCA practioner panel
Zurich UK CEO Tulsi Naidu has been appointed as chair of the Financial Conduct Authority’s practitioner panel.
Lamp customers see first FSCS pay outs
The Financial Services Compensation Scheme has today made its first payments to policyholders affected by the collapse of Lamp Insurance.
CRL identifes potential alternative insurer to take on Alpha policyholders after missed deadline
BCR Legal Group appointed representative CRL failed to find an insurer to take on its Alpha policies by the May deadline set by the Financial Services Compensation Scheme, but it has been given more time as the firm has a replacement in its sights.
ABI accuses consumer panel of 'overlooking practicalities' in dual pricing automatic upgrade recommendation
The Association of British Insurers has criticised a proposal from the Financial Services Consumer Panel for an automatic upgrade rule to tackle dual pricing, saying it “overlooks the practicalities of underwriting and product choice.”
ABI backs review on child sexual abuse claims limitation law
Exclusive: The Association of British Insurers believes that there is a need to review limitation law surrounding cases of child sexual abuse and has pledged to engage with the Independent Inquiry into Child Sexual Abuse, survivors and lawyers.
Financial services Brexit bill approaches £4bn as preparations slow
Major financial services firms had spent nearly £4bn preparing for life after Brexit as of 31 May, according to EY.
CMA price cap proposals could put pressure on 'weak profitability' in insurance
A proposal by the Competition and Markets Authority to place targeted price caps could change pricing and marketing models and put pressure on profitability in the insurance sector, Fitch Ratings has warned.
Brexit: UK motorists unlikely to get compensation from hit and runs in France
Exclusive: Motorists driving in France will not be able to claim compensation if they are struck by an uninsured or untraced vehicle after Brexit.
FCA warns of unauthorised motor broker
An unauthorised car insurance broker has been targeting customers in the UK, the regulator has warned.
Allianz's Stephanie Smith on cultural transformation in the industry
One year on from the introduction of the General Data Protection Regulation and most companies have successfully adopted the new requirements. But Stephanie Smith, chief operating officer at Allianz, says while hefty fines and the risk of reputational…
This week: Court's adjourned?
Arnold Schwarzenegger’s decapitated head kicked off its last outing on our television screens this week as the FCA counts down to the PPI deadline on 29 August. However, as one battle comes to an end, another may be just beginning.
Insurers could face fines under plans to tackle dual pricing 'rip-off'
The Competition and Markets Authority could be given the power to impose fines on companies in breach of consumer law without going to court, under government proposals announced today.
Fee caps for CMCs could lead to 'clear consumer detriment'
The Association of Consumer Support Organisations has urged the Financial Conduct Authority to consider how the market adapts to regulatory change before considering fee caps on claims management companies.
Home premiums could rise 22% if FCA acts on dual pricing
Home insurance premiums could rise 22% for new customers if the regulator moves to axe dual pricing, analysts have warned.
Insurtech Gateway targets up to £30m of investments with insurer fund
Incubator Insurtech Gateway has launched a new investment fund today backed by insurance companies that is aiming to raise and inject up to £30m in start-ups between now and 2023.
CII launches historic website as Insurance Museum project gathers momentum
Exclusive: The working group looking into the feasibility of an insurance museum in the Square Mile has rejected the idea of hosting exhibits within the new Museum of London in favour of a stand-alone site, should there be enough interest.
FCA issues warning over clone broker
A clone broker is operating under the name Wentworth Insurance Brokers, the Financial Conduct Authority has warned.
Blog: MoJ fixed costs consultation is whack-a-mole for policymakers
The government’s plan for fixed recoverable costs to be applied to most civil cases - including personaI injury - might fix some problem areas in claims. Minster Law's legal services director Rachel Di Clemente asks if it will create more.
Insurers call for compulsory sprinklers in schools
Automatic fire sprinklers should be compulsory in all new build schools, insurers have warned.