Last week I wrote a strongly worded letter to my household emergency provider and a blog on this site detailing the issues I was having.
John Lewis has pulled its controversial home insurance advert, which depicted a boy in a dress dancing around a house, following regulatory intervention.
Insurers, brokers, premium finance lenders and more have been told by the Financial Conduct Authority to consider giving payment deferrals and refunds as well as waiving cancellation fees to customers hit financially by the coronavirus epidemic.
Treasury Committee chair Mel Stride has asked Association of British Insurers director general, Huw Evans, to address queries on the insurance response to the coronavirus pandemic.
The founder of One Answer Network and One Answer Insurance is poised to roll out a new business that aims to remove the “Mickey Mouse” stigma of add-ons. With another lead generation start-up waiting in the wings.
Insurtech disruptor Lemonade has launched an upgrade to its products, allowing customers to file up to two claims each year without rate hikes.
Australian giant QBE will repay customers A$15.9m (£9.6m) following a review of add-on insurance sales by the Australian Securities and Investments Commission.
The only absolute certainty in today’s modern world is change. Change creates new risks for all businesses, whether they are based in the north or south of the country, have international reach or are mid-market organisations.
Brokers need to exploit cross-seeling opportunities to protect their business, writes Nick Mohan, joint managing director at Jackson Lee Underwriting, pointing to gap insurance and other niche covers.
Post interviews Colin Fagen, former group chief operations officer at QBE, who assumed the role as president of the board of the Insurance Council of Australia at the beginning of January.
Some of Australia's largest insurers have been named in a critical report examining car insurance add-ons sold by car dealers.
This infographic illustrates the main details of the FCA’s study into the sale of general insurance add-ons.
In my last blog for Post, I pitched the idea of product ratings as an alternative to claims ratios. I am delighted to say that the debate has moved on significantly in recent weeks, thanks to an independent review company which publishes star ratings for…
The incoming ban on the sale of opt-out add-on insurance policies could spark consumer confusion and ultimately lead to a smaller scale “PPI-style scandal”, according to industry observers.
The Financial Conduct Authority will ban the sale of insurance add-ons via pre-ticked boxes from April 2016 after a consultation found that customers were overpaying by as much as £200m per year for additional products.
Legal expenses insurers have supported product ratings as an alternative remedy to publishing claims ratio information for add-on products, but only if the ratings are based on detailed and relevant criteria.
The Financial Conduct Authority has backed down from its intention to require general insurers to publish claims ratio information for add-on products and plans to publish a discussion paper addressing alternative options in “the coming weeks”.
Redress for consumers who bought add-ons unnecessarily through the opt-out process would be a "logical conclusion" of the Financial Conduct Authority consultation into the sales practice, according to PWC.
The Financial Conduct Authority has sounded the death knell for the opt-out method of selling of add-ons, following its market study last year.
The sales practices that saw three former Swinton executives fined and banned remain widespread and the broker is unlikely to be the last to face sanctions, according to compliance specialists.
Christian Freer has pledged to bring add-ons of “real value” following his appointment as commercial director of Strategic Insurance Services.
The Financial Conduct Authority’s proposal to impose a requirement for insurance companies that engage in the sale of add-on products to publish claims ratios as a measure of value is expected to face continued criticism.
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?
Axa Assistance will provide brokers with regular customer research findings on the sale of add-on products along with updated product information, a review of policy wordings and clearly defined customer benefits.