premium-finance
Q&A: Sharon Bishop, PremFina
Sharon Bishop, CEO of PremFina, explains how the business has scaled from helping 15 brokers in 2021 to more than 200 today, leveraged technology to stay ahead of regulation, and set its sights on becoming the UK’s leading premium finance provider.
Why cutting instalment costs could be a win-win for insurers
As paying for home and motor insurance in instalments shift from a convenience to a necessity, Ian Hughes, CEO of Consumer Intelligence, insists fairer pricing could turn a regulatory requirement into a powerful growth strategy for providers.
60 Seconds With... Premium Credit’s Owen Thomas
Owen Thomas, chief sales officer of Premium Credit, has cooked for Steps, would love to be Jack Reacher, and whether he wins, loses or draws you know he has tried as hard as he can to succeed.
Insurers cover APR cuts by increasing instalment costs
Consumer Intelligence has uncovered evidence that insurers are reducing their advertised annual percentage rate for premium finance without reducing the actual cost of paying for home and motor insurance in instalments.
FCA premium finance crackdown saves consumers £100m
Since the the Financial Conduct Authority’s head of insurance Matt Brewis labelled premium finance a “poor product”, car and home insurance customers have saved more than £100m in the last year after insurers reduced how much they charge policyholders…
How to get ahead of the FCA’s premium finance probe
To make sure you don’t incur the regulator’s wrath as it examines premium finance, Claire Van der Zant, chief growth officer at Shieldpay, recommends you scrap the spreadsheets.
What to expect from the regulator in 2025
In the first Insurance Post Podcast of 2025, regulatory experts reveal whether the Financial Conduct Authority will become a pricing regulator and slim down the rule book in the year ahead.
How the FCA could address premium finance failings
Marc Maxfield, risk and regulation expert at PA Consulting, explains what steps the regulator could take to reduce profiteering from premium finance plus how insurers should prepare for the watchdog's probe now.
Wheels in motion for changes that benefit insurance customers
Following her attendance at inaugural meeting of the government's motor insurance taskforce, Rocio Concha, director of policy and advocacy at Which, shares her hopes for robust action from the regulator to make the sector work better for customers.
Why premium finance is like a teenager’s stinky socks
Editor’s View: Emma Ann Hughes reflects on the ramifications of the Financial Conduct Authority shifting from issuing warnings to kicking off a review of premium finance for home and motor insurance on Wednesday (16 October).
FCA launches premium finance market review
The Financial Conduct Authority has launched a review of the premium finance market, alongside the launch of a government motor insurance taskforce.
How to meet the FCA’s expectations
Insurers need to be able to articulate the way they make money if they want to satisfy the Financial Conduct Authority, according to Michael Sicsic, founder and managing partner of Sicsic Advisory.
CII’s Connell tackles fair pricing for premium finance
Trade Voice: Dr Matthew Connell, director of policy and public affairs at the Chartered Insurance Institute, says there are many ways of justifying whether a price is reasonable or not.
Which? reveals insurer premium finance APRs
Research conducted by Which? has found that several motor and home insurers are charging what the consumer watchdog called “excessively high levels of interest on monthly payments.”
Insurance experts propose using IPT to combat premium discrimination
Insurance industry professionals have proposed that the government use insurance premium tax to address the “poverty premium” and “ethnicity penalty” in motor insurance.
Biba follows ABI in addressing premium finance
Less than a month after the Association of British Insurers published guidance for members providing premium finance to customers, the British Insurance Brokers’ Association has followed suit.
Insurance Post Power List 2024’s Top 10 Podcast
To find out who made it into the Top 10 of Insurance Post’s Power List for 2024, make sure you listen to the latest Insurance Post Podcast.
Matt Brewis, FCA
Matt Brewis, the Financial Conduct Authority’s head of insurance, is a man on a mission in 2024, which is why he has climbed to third place on this year’s Insurance Post Power List.
Biba’s Trudgill on working with the regulator
Trade Voice: Graeme Trudgill, CEO of the British Insurance Brokers’ Association, outlines how overtures between the trade body and the Financial Conduct Authority might ease brokers' uncertainty around regulation.
ABI sets out principles to address motor premium finance
Members of the Association of British Insurers have agreed to follow five principles to manage the amount customers pay when they pay their premiums monthly rather than annually.
What to expect from the regulator in 2024
Post Podcast: Insurers should brace themselves for the Financial Conduct Authority kicking the tires of how well providers and brokers are adhering to Consumer Duty requirements in 2024.