Appointed representatives (AR)
Dunny or delight? Rating Australian forays into UK insurance
Content Director’s View: With Australian firm AUB Group doubling down on its UK growth plans with a deal for Prestige Insurance Holdings, Jonathan Swift reviews other notable Antipodean overseas insurance expansion plans to assess its chances of success.
More FCA action against AR brokers is nigh
Sue Mallender, senior consultant of regulatory consultancy Sicsic Advisory, has warned the regulator is likely to place restrictions on more appointed representative general insurance broking businesses in the months to come.
FCA restricts activity of four insurance broking firms
The Financial Conduct Authority placed restrictions on four insurance brokers it fears are failing to ensure their appointed representatives comply with the regulator’s rules.
FCA compared to 'Rottweiler' with new AR regulation
Compliance experts are confident the Financial Conduct Authority rules to make authorised financial firms more responsible for their appointed representatives will have teeth but feel action could have been taken earlier.
Intelligence: Raising the AR bar
The insurance industry should not kid itself that it has no issues in its use of appointed representatives but, according to specialists, the FCA consultation should not strike fear into well-run businesses, writes Emmanuel Kenning.
FCA launches consultation on improving AR regime
The Financial Conduct Authority has launched a consultation on improving the appointed representatives regime and tackling harm from this model.
Movo Partnership 'outgrows' GRP’s Hedron network after exceeding targets
Movo Parnerthip is leaving GRP-owned Hedron broker network next year as it looks to focus on independence.
Rishi Sunak backs AR reform review in wake of Greensill
Chancellor of the Exchequer Rishi Sunak has backed a review of reforms to the appointed representatives regime in his response to a committee of MPs looking at Greensill Capital’s collapse.
AR consultation prompts stifling innovation concerns
A Financial Conduct Authority consultation on appointed representatives will tackle firms "circumventing" requirements, compliance consultants told Post, though concerns have been raised around barriers to entry and innovation.
Broker to compensate customers for oversight breaches as regulator eyes AR clampdown
The Financial Conduct Authority has launched its fees consultation and hit out at appointed representative drivers of harm, as it publicly censured Alsford Page & Gems for AR oversight breaches relating to the sale of extended warranty insurance.
Clone firm’s website remains live despite FCA warning
The Financial Conduct Authority has issued a warning about scammers using an authorised firm’s name to trick consumers via a website.
Exceptional items put UK General in the red in 2016/17
UK General made an operating loss of £714,879 for the year ending 31 March 2017, compared to a profit of £8.7m in the previous year.
Legal Update: Conflicts of interest in the insurance distribution chain
As they prepare for the Insurance Distribution Directive, insurers and brokers need to be wary of conflicts of interest, which the Financial Conduct Authority has been monitoring closely, explain Roseyna Jahangir and Juanita Morrison, associate and…
Lack of AR oversight putting customers at risk, FCA warns
Insurance companies may be putting customers at risk by not undertaking sufficient due diligence on their appointed representatives.
Interview: Karen Beales, UK General
Karen Beales was recently appointed CEO of UK General from her existing role as managing director, following JC Flowers’s acquisition of the company. Post discussed with Beales what the future holds for the managing general agent.
UK General chief risk officer resigns
UK General chief risk officer Steve Blott has left the business.