Regulation
India's Insurance Bill could open door for Lloyd's
Lloyd's is keen for India's long awaited Insurance Bill to be ratified by Parliament.
Towergate Financial facing £85m mis-selling bill
Towergate expects to pay up to £85m in redress costs for the mis-selling of two financial products to the end of 2012.
11 banks facing 2 million compensation bills over card protection product
Eleven banks and credit card issuers may be forced to pay compensation to approximately two million people over the sales of a card security product.
FCA launches fresh PPI complaints investigation
The Financial Conduct Authority has announced a new probe into complaints over the sale of payment protection insurance that may see it set a time limit for complaints.
IUA airs experience fears over PRA's new insurance lead
The International Underwriting Association has revealed concerns over a lack of insurance experience at the Bank of England after Sam Woods was named executive director of insurance supervision.
PRA names Woods as insurance supervision lead
The Prudential Regulatory Authority has named financial stability strategy and risk director Sam Woods as its new executive director of Insurance supervision, replacing Julian Adams.
Gibraltar to overhaul regulatory regime for financial services
Gibraltar's government and its Financial Services Commission have joined forces to develop a new regulatory framework for financial and professional services.
CPP CEO Escott warns brokers about PE snubs if they ignore regulation
Insurance businesses need to “embrace” regulation or face tough consequences if they continue their current “amateurish” practices. Not least the fact they will struggle to sell a business if their compliance is not up to scratch, says CPP's Brent Escott.
49 law firms enter PI cessation period
12 law firms have been forced to close their businesses after failing to obtain professional indemnity cover, the Solicitors Regulation Authority has confirmed, while 49 have yet to renew PI cover.
No FSCS compensation levy for GI brokers in 2015/16
General insurance brokers will not have to pay a Financial Services Compensation Scheme levy for costs associated with compensation in the next financial year.
Trade Voice: Biba sets out manifesto for 2015
The trade body reveals a 10-point plan for smarter, clearer and value for money regulation
Biba Manifesto 2015: Breaking news
The Post team brings you the breaking news on the British Insurance Brokers' Association's Manifesto 2015 as it launched at parliament on 19 January.
Video: Preparing for the Insurance Bill
Last year the government introduced the Insurance Bill to Parliament, with the aim of supporting the growth of Britain’s insurance industry and helping customers by updating the 100 year-old rules governing contracts between businesses and insurers.
FCA suggests FSCS management levy to drop 7.4%
The Financial Conduct Authority is consulting on the Financial Services Compensation Scheme's proposed management levy for the next financial year which would see an overall 7.4% reduction in expenses.
Solvency II Delegated Acts brought into force
The Solvency II Delegated Acts were entered into force on 18 January in a move Insurance Europe has called an important step forward in the implementation of the regulatory regime.
CMA draft order obligations criticised for duplicating existing regulation
Industry players are fearful draft Competition and Markets Authority motor insurance obligations conflict with existing conduct regulation amid concerns the watchdog is not giving firms enough time to implement its suggested reforms.
Insurance trade bodies to meet with regulators on CMA draft orders
The British Insurance Brokers' Association and the Association of British Insurers are to meet with the Financial Conduct Authority and the Competition and Markets Authority in the coming weeks to ensure obligations from the CMA private motor…
CMA publishes draft order from motor market report
The Competition and Markets Authority is consulting on a draft order explaining how changes resulting from its investigation into the private motor insurance market will be introduced.
Merry Christmas from Post
Incisive Media's offices are now closed until 2 January 2015 for the festive period.
Insolvency Service investigating conduct of Drive Assist directors
The Insolvency Service is believed to be conducting an investigation into the behaviour and transactions of the directors of credit hire firm Drive Assist, according to the company’s liquidator Zolfo Cooper.
Plowman appointed chair of Older Drivers Task Force, which will seek evidence in New Year
The Road Safety Foundation has confirmed that its trustee and former civil servant John Plowman will chair the Older Drivers Task Force.
Government to make FCA and PRA more accountable
Following a review the government has published a number of recommendations to ensure the way the financial regulators make enforcement decisions continues to be fair, transparent and efficient.
AM Best dismisses need for rating action on insurers reliant on TRIPRA
The US federal terrorism programme is to expire on 31 December due to the failure of the US Senate to reach an agreement to extend the Terrorism Risk Insurance Protection Reauthorization Act before the adjournment of congress.
North of the Border: The ramifications of Smith
Following the Scottish referendum, the UK government established the cross-party Smith Commission to make proposals for devolution of further powers to the Scottish Parliament. These recommendations, if implemented, will see yet further differences…