Compliance
Allianz appoints chief compliance officer
Allianz has named Margo Young as chief compliance officer.
Experts tackle ethics of AI in insurance
Big data is not a game played by different rules, delegates at an insurance artificial intelligence ethics conference were today reminded.
Somerset Bridge adds Beazley and ex-DLG leaders as NEDs
Arron Banks’ Somerset Bridge Insurance Services has appointed Christine Oldridge and Damian Arnold as non-executive directors.
Compliance experts and trade bodies praise outgoing FCA boss Andrew Bailey
The market has hailed Andrew Bailey as having run a steady ship at the Financial Conduct Authority and congratulated him as he heads to the Bank of England to replace Mark Carney.
FCA issues warning over clone broker
The Financial Conduct Authority has issued a warning over an unauthorised firm pretending to be Speedy Insurance.
Analysis: Brokers urged to keep on top of SMCR as rules kick in
The Senior Managers and Certification Regime regulation focused on greater personal responsibility has come into force for senior broker managers, and businesses have a year to train all relevant staff on conduct rules.
Eldon and Leave EU take a ‘two-faced’ and ‘cavalier’ approach to compliance: ICO
Arron Banks’ group of companies take a “two-faced approach” to regulation and the Information Commissioner’s Office should be allowed to maintain its fines and audit against Leave EU and Eldon, a tribunal heard.
ICO fines and enforcement action ‘significant and novel extension’ of regulatory powers: Eldon and Leave EU
Eldon Insurance and Leave EU fines totalling £105,000 and a data audit against the broker levelled by the Information Commissioner’s Office are “divorced from reality,” a tribunal heard yesterday.
Eldon sold 788 insurance policies through Leave EU marketing emails
Eldon Insurance brand Go Skippy sold 788 policies via Leave EU marketing emails, which were later branded as contravening regulation by the Information Commissioner’s Office.
Industry responds to 'jaw-dropping' behaviour at FCA headquarters
The insurance industry has reported mixed responses to reports of “shameful” behaviour by staff at the London offices of the Financial Conduct Authority.
Blog: The unrated conundrum - cover at all costs, but who pays the price?
There is a growing list of failed unrated insurers that continue to hit the headlines. Dean Bedford, underwriting director at CLS Risk Solutions, asks what is the answer to the unrated conundrum? Is unrated always bad, who is responsible and who pays the…
Trade voice: Biba's Steve White on less but more effective regulation
British Insurance Brokers' Association CEO Steve White ponders what proportionate regulation for insurance brokers should look like.
Insurtech Inshare targets SMEs to corporates with peer-to-peer launch
Insurtech Inshare is seeking to bring peer-to-peer risk and insurance management to the commercial community as it gears up to launch ahead of the Insurtech Connect event in Las Vegas next week.
Analysis: Trampoline parks – on an upward trajectory for insurance?
To borrow an analogy from Forrest Gump’s mother, writing about insurance can be like a box of chocolates – you never know what you’re gonna get. On the topic of trampolines, an assortment of ‘no comments’ left a rather nasty taste
Spotlight: SME market: SMEs and cyber risk - a ticking time bomb
SMEs are a prime target for cyber criminals because they are believed to have limited resources and employ less technically aware employees than larger enterprises. Despite this, these businesses, their insurance providers and brokers are not assessing…
Blog: To beat fraud, insurers have to tear down internal walls to future-proof their business
The insurance industry continues to treat cyber attacks and fraud as two independent problems. However, Dennis Toomey, global director of counter fraud analytics and operations at BAE Systems, argues they are in fact one and the same – and until the…
Interview: Janet Connor, The AA
A lot has changed at the AA in the five years since Janet Connor, now director of insurance, joined the organisation. She explains to Jonathan Swift how an investment in data and technology – alongside the relaunch of its insurance company and board…
Opinion: SMEs: Emerging risks - Tackling the challenges facing SMEs
SMEs may be concerned about keeping a competitive advantage – but it’s the evolving workforce challenges that can have the greatest impact on their success
Trade Voice: Biba's Vannessa Young on diversity for all
Many firms have signed up to the Women in Finance Charter but as Vanessa Young, compliance and advisory boards manager at the British Insurance Brokers' Association, explains as with any strategy businesses need be sure of what they want to achieve and…
FCA issues warning over clone broker
The Financial Conduct Authority has issued a warning over an unauthorised firm pretending to be Protect Your Bubble.
Insurers face Part VII transfer delays as Brexit looms
Exclusive: The government is mulling an extension to the deadline for insurers to get legal permission to move books of business from the UK to Europe.
Brokers nervous on Brexit: Aviva research
Brokers have identified Brexit as their second biggest worry, behind regulation and compliance, Aviva research has shown.
Arron Banks' Eldon and Leave.EU fined £120,000 by ICO over data misuse
The Information Commissioner’s Office has fined Arron Banks’ Eldon Insurance £60,000 and political campaign group Leave.EU a total of £60,000.
Industry faces £10.5m bill from FCA claims data proposals
The regulator expects its claims reporting proposals to cost the industry between £7.5m and £10.5m in one off compliance costs.