Commission disclosure
Blog: State of the Broking Nation Findings, Week 2
Michael Lawrence of LV takes a look at the findings from this week's State of the Broking Nation research, which looked at commission and politics
Rentguard ‘confident’ over Towergate commission dispute
Rentguard is confident of victory in a dispute with Towergate, in which it has alleged the broker has not paid hundreds of thousands of pounds of commissions following a dispute over new business.
Europe: Commission disclosure - disaster averted?
The Insurance Mediation Directive has been the subject of much conjecture in recent times. So what will the trialogue decide on - and what will the impact on insurers be?
Willis drops contingent commission ban
Broking giant Willis has confirmed that it will drop a ban on taking contingent commissions, just over two years after initially accepting the payments in its employee benefits arm.
C-Suite - Broker: Give the FCA what it wants
Brokers need not fear the FCA, as long as they put customers first
Editor's comment: A look into the broking crystal ball
The UK consumer saw a glimpse into the future this week when Google launched its Google Glass product for the first time outside the US.
LMA demands rapid Competition Commission progress
The Lloyd’s Market Association is pushing for speedy reforms from the Competition Commission’s investigation into motor insurance, suggesting the body circumvents legal change.
Competition Commission cuts £30m from credit hire cost estimates
The Competition Commission has admitted errors in its figures on the cost of credit hire, lowering its estimated impact on motor premiums.
Expertise in Action: Broker: Preferential treatment
Few clients are interested in commission disclosure, however, the issue of preferential treatment for brokers that produce the most business for insurers could soon face regulatory scrutiny.
Independent Broking: Back to basics
With tough times facing the industry, insurers and brokers have to embrace their traditional roles to be successful
Competition Commission finds evidence of over-costing in the motor insurance market
The Competition Commission has found evidence that the separation of cost liability and cost control in the provision of post-accident services to non-fault motor claimants is pushing repair costs up.
View from the Top: Desperate measures
Brokers are engaging in some unwise practices as they struggle to cope in the difficult climate, says Dave Smith.
Plumeri rounds on contingent commissions
Outgoing Willis chief executive Joe Plumeri has criticised a resurgence in the payment of contingent commissions to brokers by insurer partners.
View from the Top: Premature death notice for networks
Contrary to popular belief, broker networks are thriving domestically and internationally, says Brendan McManus.
FUEDI and CILA to demand IMD II clarity from Europe
The Chartered Institute of Loss Adjusters is becoming increasingly frustrated at being left in the dark as to how the "light touch" Insurance Mediation Directive will affect its members.
Smaller brokers will be hit hardest by ban on conditional risk transfer
Brokers and managing general agents have expressed concern at the potential for conditional risk transfer to be banned by the regulator next year.
Broker Focus: Insurance Mediation Directive - A level playing field?
The European Commission's revision of the Insurance Mediation Directive is targeting mandatory commission disclosure, but what will this mean for UK brokers?
Brokers to receive increased commission under new government initiative
Members of the British Insurance Brokers' Association will receive commission levels up to 15% when they place trade credit insurance through the UK Export Finance Initiative, with immediate effect.
Incentive schemes: where do the real issues lie?
On Wednesday, the Financial Services Authority published the results of a review into risks faced by customers from financial incentives, and found that bonus-based schemes increase the risk of mis-selling. With a consultation on the issue launched …
Regulator to review "rotten" incentive schemes
Financial Services Authority managing director Martin Wheatley has laid out plans to stamp out mis-selling created by sales incentives that result in customers being sold products they do not need or cannot use.
New regulator to outlaw commission sales
Commission-based sales of financial products will be outlawed by the Financial Conduct Authority when it comes into force next spring.
Editor's comment: Regulation and revolving chairs
Anticipated it may have been, but last week's European call for compulsory commission disclosure has understandably left UK brokers aggrieved.
Brokers insist on level playing field over EC Insurance Mediation Directive
Insurers have been dragged into the mandatory commission disclosure debate by disgruntled brokers demanding a "level playing field", following the latest publication of the revised Insurance Mediation Directive.
IMD II to spark regulation for adjusters, claims managers and aggregators
Legal experts believe the European Commission’s latest Insurance Mediation Directive – IMD II – will lead to tighter regulation for loss adjusters, claims management companies and aggregators.