Financial Conduct Authority (FCA)
Direct underwriters saw retention rates of 70% prior to FCA pricing reforms
Benchmarking analysis data has found that prior to the introduction of the Financial Conduct Authority's pricing reforms, direct underwriters had the highest retention and lowest switching rates.
Capgemini: only 8% of insurers 'Resilience Champions'; Allianz mulls Home & Legacy disposal; CII reports £4.4m deficit; and Questgates buys
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Howden's Peter Blanc on how to manage the consumer duty challenge
With the Financial Conduct Authority's Consumer Duty just around the corner, Peter Blanc, executive chairman of Howden UK & Ireland, believes professional advice will be the only way that customers can ensure they will know what they are buying.
Insurance Post TV: Price walking special – what impact has the FCA ban had on the personal lines market?
Insurance Post reveals the latest episode of its ‘magazine-style’ television show.
Brokers warned that a commission ban for multi-occupancy buildings could be the 'thin edge of a large wedge'
Compliance experts have warned brokers that the Financial Conduct Authority's decision to look at commission payments for multi-occupancy building could set a precedent for the future and be seen as an 'easy win' by government.
FCA does not aim to be a price regulator, says Sheldon Mills
In his keynote speech yesterday at the British Insurance Brokers’ Association’s conference in Manchester Mills Sheldon Mills, executive director for consumers and competition at the Financial Conduct Authority, told the audience: “The new consumer duty…
White takes aim at broker FSCS contributions in Biba opening address
British Insurance Brokers’ Association CEO Steve White has said that brokers “must not be left to pay over the odds for the failures of others” through their contributions to the Financial Services Compensation Scheme.
Data Analysis: Business interruption payment tracker - How insurers fared into 2022
Not all insurers are created equal where it comes to keeping on top of the business interruption claims deluge. Post analysis of Financial Conduct Authority data reveals how firms have fared.
FCA staff walk out in first of three planned strikes
Staff at the Financial Conduct Authority have gone on strike in the first of three planned two-day walkouts over proposed changes to pay and conditions at the regulator.
Blog: Making the wrong team moves risks losing regulatory permissions
As we emerge from the Covid-19 pandemic, employers and recruiters are anticipating a growing trend in employees wanting to move roles in what has been dubbed the 'great resignation'. BDBF partner Nick Wilcox, and associate Blair Wassman, explore the…
Price walking ban pushes motor premiums up; Zurich opens branch; Handl acquires IPRS; Mason Owen MBO; and under 30s telematics sales rise
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Cost of living crisis and pandemic push fair value to top of FCA's priorities
Ensuring that consumers affect by the cost of living crisis are treated fairly by insurance companies is a key area of focus for the Financial Conduct Authority, the regulator’s director of insurance and conduct specialists Matt Brewis told a policy…
FCA backtracks on exec and board gender reporting approach
The Financial Conduct Authority has scrubbed references to 'non-binary' and 'self-identifying' from executive and board statement target forms following a deluge of campaigner consultation responses.
BI ruling and Covid impact drive claims vacancy boom
Job adverts for claims roles are on the up, research has suggested, with the business interruption ruling a likely driver.
FCA's broker survey puts property commissions under the microscope
The Financial Conduct Authority has placed broker commissions in multi-occupancy property under greater scrutiny with its latest survey.
FCA staff back strike action in Unite ballot
Staff at the Financial Conduct Authority have voted in favour of striking over proposed changes to pay and conditions, the trade union Unite has announced.
Nikhil Rathi pledges to make the FCA more assertive and quicker in stamping out wrongdoing and consumer harm
The Financial Conduct Authority has launched a three-year strategy to improve outcomes, with the CEO Nikhil Rathi pledging to make the regulator more assertive and quicker in responding to changing financial services sector.
FCA regulatory reforms no ‘silver bullet’ but step towards more nimble regulator
Regulation experts have praised the Financial Conduct Authority’s steps towards tackling authorisation delays but have warned they will not be enough to tackle the problem on their own.
Lords Committee expresses concerns of ‘overly demanding’ and ‘burdensome’ regulation of London Market
The Industry and Regulators Committee has written to the Economic Secretary to the Treasury John Glen to outline concerns about lack of proportionality in the regulation of the London Market by the Financial Conduct Authority and the Prudential…
FCA reforms authorisation process as it continues recruitment push
The Financial Conduct Authority has said it is committed to bring a more robust and efficient authorisation process and confirmed it has reformed its authorisation process with more decisions now taken by individual senior managers rather than by…
Citizens Advice ethnicity penalty campaign a ‘wake up call to FCA’
Citizens Advice ethnicity penalty report must be "a wake up call to the Financial Conduct Authority” to act on its promise to HM Treasury as insurers face warnings the fallout from this could be as far reaching as the Test Achats gender ruling.
Analysis: How dual pricing reforms are shaking up insurance
Post investigates what changes the industry has seen following January’s dual pricing reforms, and if insurers are following the right path on price walking.
UK regulators are not 'lumbering' and should not mirror Bermuda, says Glen
Calls from the London market to reform the UK regulatory regime to more closely resemble that of, for example, Bermuda should be resisted, the Economic Secretary to the Treasury John Glen has said.
Axa will not appeal Corbin & King BI verdict
Axa has decided not to appeal a £4.36m Commercial Court business interruption judgment against it.