Analysis: As the government demands pulling the plug on unfair insurance commission, Frances Stebbing examines whether the regulator could change the rules for how brokers get paid.
The Financial Conduct Authority's Business Plan for 2023 to 2024 detailed plans for the regulator to check the finances of brokers as well as MGAs in the year ahead.
Friday Round-Up: Ahead of Good Friday and the Easter Bank Holiday, Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Friday Round Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Editor's View: Emma Ann Hughes asks whether Old Testament-style regulation is required to push general insurers to meet the Consumer Duty requirements.
View from the top: Money and Mental Health Institute's Conor D'Arcy on how to help customers with mental health problems
Conor D'Arcy, head of research and policy at the charity founded by Martin Lewis, explains what general insurers must do to make the industry accessible for customers with mental health problems.
A charity established by campaigning journalist Martin Lewis has urged insurers to provide mental health training for underwriters and frontline staff if they wish to adhere to the FCA’s Consumer Duty requirements.
Analysis: Social Market Foundation research shows insurance is increasingly unaffordable for those on low incomes; news editor Scott McGee examines who is responsible for preventing a “poverty premium” being charged.
With only four months to go until the Financial Conduct Authority’s Consumer Duty comes into force, the regulator has reached out to insurers to ask if they have even heard of the new set of rules.
The Financial Conduct Authority is already reaching out to insurance firm bosses to raise concerns the businesses won’t comply with the Consumer Duty when it comes into force in July.
Laura Hancock, chair of the Society of Insurance Broking, argues the forthcoming Consumer Duty represents a refreshing evolution rather than a revolution in how brokers deal with customers.
Jonathan Drake, partner at Forum of Insurance Lawyers member firm DWF, and Nicola Critchley, DWF partner and Foil president, warn there is ample scope for firms to run foul of the FCA’s requirements for claims handling under the Consumer Duty.
As we approach the end of February, the headlines that caught your attention on Insurance Post this month show the challenges and opportunities facing the industry one year on after Russia invaded the Ukraine.
Insurers who think they've already met the Financial Conduct Authority’s Consumer Duty requirements shouldn't be "resting on their laurels", DAC Beachcroft has warned.
Matt Brewis, director of insurance at the FCA, has said that while most general insurers are on track to meet the regulator’s Consumer Duty requirements, there is still “room for improvement”.
Michael Lawrence, distribution and underwriting director at LV Broker, says the industry can’t rely on good fortune to maintain customer confidence in the face of the challenges that 2023 will bring.
The Financial Conduct Authority has said that some firms’ Consumer Duty plans suggest they are “over-confident that their existing policies and processes will be adequate” following a review of the largest in-scope businesses.
The Financial Conduct Authority has launched a consultation to update guidance, introduced during the Covid-19 pandemic, to support insurance customers in financial difficulty.
View from the Top: Peter Thompson, CEO of BGL Insurance on why the perfect insurance customer experience doesn't exist
Peter Thompson, CEO of BGL Insurance, says the way insurers support customers during the cost-of-living crisis will separate the wheat from the chaff in the industry.