Regulation
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…
FCA reputation diminished after damning Davis report
The Financial Conduct Authority has been left "diminished" by a damning report into its handling of publicity around a life insurance thematic review, according to certain market observers.
Questgates to introduce minimum standard for motor investigators
Loss adjuster Questgates has unveiled plans to introduce a minimum professional standard for those operating within its motor investigation team by the first quarter of next year.
FCA tightens complaint handling procedures
Financial services firms will no longer be able to use premium rate telephone numbers for customers as part of a series of proposals from the Financial Conduct Authority on changes to the rules on complaint handling and post-sale telephone calls.
FCA turns focus to competition in GAP market
The Financial Conduct Authority is proposing changes to promote competition in the £160m guaranteed asset protection insurance market.
MPs plotting to summon outgoing FCA execs
Two departing executives from the Financial Conduct Authority are set to be summoned to appear in front of the Treasury Select Committee over the mis-handling of changes to life insurance regulation.
Regulated firms to pay for £3.8m FCA report
The cost of the investigation into the Financial Conduct Authority's handling of publicity around a proposed life insurance thematic review is to be borne by the firms it regulates.
FCA apologises after life insurance probe
The Financial Conduct Authority has formally apologised following the publication of a damning investigation into its handling of a proposed thematic review into life insurance.
CMA takes Xchanging’s Agencyport purchase to in-depth probe
The Competition and Markets Authority has referred the acquisition of Agencyport by Xchanging for an in-depth investigation after the technology firm failed to respond to a request for reassurance.
Trade bodies fight for re-worded clauses to be restored to Insurance Bill
Biba and Airmic address House of Lords' committee in attempt to restore axed clauses
FCA reportedly axing bonuses over insurance scandal
The Financial Conduct Authority is set to cancel bonuses for several of its senior executives following leaks over an investigation into the insurance sector, according to the Financial Times.
FCA's Adamson exits regulator amid structural overhaul
Financial Conduct Authority supervision director Clive Adamson is to leave the regulator as part of wider structural changes within the organisation.
FCA blocks Cardiff broker
The Financial Conduct Authority has cancelled permissions for a Cardiff-based insurance broker over concerns around filing of returns.
CMA threatens Xchanging with in-depth competition probe
The Competition and Markets Authority has pledged to undertake an in-depth investigation of Xchanging’s acquisition of Agencyport unless the firm can address concerns of the deal’s impact on competition.
ABI 2014 Motor Conference round-up
All the big stories from the ABI motor conference.
Editor's comment: The regulation pantomime
As we head into the pantomime season, it seems the insurance market’s Sleeping Beauty has awoken – and she means business.
PRA senior insurance managers regime sparks fears of bank-like regulation
Consultation reveals plan for more stringent controls on senior staff
C-suite - Broker: A bright new age for forecasting
A new Met Office supercomputer could provide more accurate models for insurers
MoJ’s Grayling outlines 1 April start for whiplash portal MedCo
The new regime to accredit and distribute work to medico legal firms will go live on 1 April 2015 it was announced today.
MP moots option of second CMA review into motor insurance
A Conservative MP has raised the prospect of a second Competitions and Market Authority review into the motor insurance sector after the next election.
Legal Update: Autonomous Vehicles: Motor evolution is imminent
Nick Rogers explores the coming changes to insurance that driverless cars will bring
14% of EU insurers fail 'baseline' EU stress tests
A test of more than half of Europe’s insurers by market share has found that one in twelve are currently likely to fail to meet solvency capital requirements when the Solvency II regime launches in just over a year.
PRA consults on regulatory regime for insurance bosses
The Prudential Regulation Authority is consulting on introducing a senior insurance managers regime to ensure those running regulated insurance companies behave with integrity, honesty and skill.
North of the Border: Counting the cost of H&S
Since October 2012, the Health and Safety Executive has sought to recover the cost of investigating an alleged breach of health and safety law from the organisation in question, rather than draining the public purse. It charges £124 per hour.