Regulation
Aggregators failing to meet FCA expectations
The Financial Conduct Authority has this morning handed out a damning verdict on the price comparison website sector, finding such sites do not always ensure consumers were given information to make informed decisions.
Conduct is most concerning emerging risk for London market internal auditors
FCA perceived as being more focused on London market than its predecessor
Brokers warn over impact of renewal transparency plans on direct insurers
ABI sends FCA letter asking it to enforce minimum standards of information
Motor sector faces fresh scrutiny for failings over premium payment options
Customers offered monthly payment by default despite choosing to pay yearly
Watchdog welcomes ABI's proposals on renewals
The Financial Conduct Authority has called for businesses to improve the way they offer motor and home insurance policy renewals while it considers proposals from the Association of British Insurers to boost clarity in that area.
Brokers and insurers hit with 3.2% FCA levy hikes
Both general insurers and brokers will have their fees to the Financial Conduct Authority hiked for the next financial year.
Brokers expected to prove worth after cut to minimum level of solicitors’ PI
ABI criticises SRA’s ‘misguided idea’ that reduction will lower premiums
Supervision, contract law reform and sanctions are top IUA concerns
Supervision by the Financial Conduct Authority and Prudential Regulation Authority, reform of UK insurance contract law and international trade sanctions are the top regulatory concerns for members of the London companies market.
Fundamental dishonesty change will have 'unintended consequences' warns MASS
Lawyers from the claimant fraternity have raised concerns over the Transport Select Committee’s latest motor report, with the proposal to strike out claims for fundamental dishonesty and changes in the small claims track singled out for criticism.
Europe: Unemployment insurance
With Eurozone recovery taking longer than expected, does the road to rehabilitation lie in a common unemployment insurance solution?
In Focus: Public Sector - The importance of business continuity planning
Risk management and business continuity planning is an essential part of running a commercial business. But while it can help to protect profits and ensure a business's future, there is no less of a need for robust BCP in the public sector.
Q&A - Michael Butt: The impact of climate change
Some 67 insurance and reinsurance chief executives recently signed The Geneva Association’s Climate Risk Statement in Canada. Michael Butt, chairman of Axis and co-chair of the association’s extreme events and climate risk working group, comments on the…
PRA won't seek to prevent orderly insurer failure
Insurers should be allowed to fail, as long as their exit is orderly, the Prudential Regulation Authority has stated.
Treasury opens Contracts Bill acceleration debate
The Treasury has launched a new consultation on the Insurance Contracts Bill to decide if it has sufficient support for accelerated passage into law.
Insurance contract complaints plummet but FS top spot retained
Consumer complaints on unfair insurance contracts have dropped by almost 75% for the year ending 31 March 2014, but the class still attracted more than any other class of financial services business for the fourth year in a row.
Add-ons: Under the microscope
The sale of additional products is under immense scrutiny by the Financial Conduct Authority. With the insurance industry pushing resources into self-policing since the motor legal expenses inquiry, has it done enough?
C-Suite - MGA: Managing conflicts of interest
Perfect separation is impossible in the current regulatory environment, so what can be done?
Most SMEs unknowingly underinsured, Axa report shows
The majority of the UK’s 4.9 million SMEs are underinsured and half a million may be breaking the law by operating with inadequate cover, according to a report by Axa.
Eiopa consults on Solvency II guidelines
The European Insurance and Occupational Pensions Authority is seeking responses to a consultation on the first set of guidelines for Solvency II legislation.
Competition watchdog calls for credit hire cap and 'wide' MFN ban
The Competition and Markets Authority has today revealed proposed changes for the UK’s private motor insurance market in a bid to increase competition and reduce costs for drivers.
Airmic: Conference Speakers: Mike Hammond, Mark Well, Mike McGavick and Philipe Rocard
This year’s Airmic conference, held in Birmingham from 16 to 18 June, will see a record number of attendees descend on the UK’s second city. We caught up with some of the speakers to find out a bit more about them, what they thought this year’s talking…
HKFI concerned over IIA's tribunal appeals' costs
The Hong Kong Federation of Insurers is concerned over the attribution of costs concerning appeals from the Independent Insurance Authority.
Industry gets behind FCA call to push conduct up board agendas
Regulator’s CEO asks firms to detect conduct issues earlier
FCA sharpens focus on wholesale market
Financial Conduct Authority chief executive Martin Wheatley today emphasised the regulator's shift in focus to the commercial insurance market.