Financial Compensation Scheme (FSCS)
Research: State of the Broking Nation Part 2: Regulation, Commission & Politics
In the second in a series of reports covering brokers’ views of the issues affecting their sector, Post this week asks 20 senior industry figures their thoughts on regulation, commission and politics.
FSCS to protect 'most' of Balva's individual and SME policyholders
The Financial Services Compensation Scheme has said it will step in to help policyholders of Latvian insurer Balva.
FSCS GI provision payments increase by £10m
The Financial Services Compensation Scheme paid out £90m in the general insurance provision class during 2013/14 - a £10m increase on the previous year, according to its annual report.
FSCS offers reassurance to defaulted Eric's UK policyholders
The majority of the European Risk Insurance Company’s UK policyholders are expected to be covered despite the unrated carrier going into default, according to the Financial Services Compensation Scheme.
Broker FSCS levy drops 39% as PPI fears ease
Final levies for insurance brokers have dropped by almost 40% in figures released today by the Financial Services Compensation Scheme.
PPI claims 'yet to peak' warns FSCS boss
Claims numbers for payment protection insurance are yet to reach their zenith according to the head of the Financial Services Compensation Scheme.
Insurer FSCS levy to drop 37% while brokers see £8m increase in 2014/15
The proposed general insurance levy payable to the Financial Services Compensation Scheme in 2014/15 has dropped 37% from the year before, the organisation’s budget shows.
Mesothelioma: Bearing the burden
With the Mesothelioma Bill due to come into operation early next year, just how much strain is the compensation scheme likely to put on insurers?
Interview: Biba's Steve White: Bold beginnings
From ‘shouting’ at the regulator to outlining a new segmentation strategy, new Biba chief executive Steve White has already ruffled more than a few feathers in his first 100 days in the hot seat. He tells Post he’s started as he means to go on...
Failed Lemma could cost UK compensation scheme £25m
The UK's Financial Services Compensation Scheme is expecting to pay-out around £25m in claims related to failed Gibraltar-based insurer Lemma.
Lemma claims could cost FSCS £25m
The UK Financial Services Compensation Scheme expects to pay-out around £25m in claims related to failed Gibraltar-based insurer Lemma.
Solicitors offered unrated insurer carriers despite solvency concerns
Déja vu as Balva-like unrated carriers on brink of taking market.
Law report: Claimant whose Spanish dream turned to nightmare finds solace against the FSCS
This law report was contributed by Berrymans Lace Mawer.
Customers paying for FSCS levies on brokers via ‘administration’ charges
Contributions to compensation scheme putting strain on brokers’ profitability.
Payment Protection Insurance: Paying the price
With payment protection insurance complaints putting a seemingly never-ending financial strain on the industry, can the product ever bounce back?
Solicitors’ Professional Indemnity: Domino effect
As solicitors and the wider industry prepare for the fallout from the Balva scandal, predictions suggest some firms could fall onto the breadline. Are they right?
Managing General Agents: In it together
Boasting members from insurance, IT, consultancy and legal services, the Managing General Agents’ Association could be accused of spreading itself a bit thin. But it’s clear in its goal: to give MGAs their own identity
Broking Supplement: Taking heads - Matters of opinion
The last 12 months have been busy for the broking sector with a new regulatory regime, the continuing financial crisis and the battle against the current Financial Services Compensation Scheme all occupying the minds of intermediaries. Post caught up…
Balva’s UK ban raises questions over SRA list of qualifying PI insurers
A move by the Latvian regulator to suspend the passporting rights of Riga-based insurer Balva has reignited broker concerns about the presence of unrated insurance companies operating in the UK market.
FSCS broker levy 'war not over'
The British Insurance Brokers' Association has vowed to continue fighting the Financial Services Compensation Scheme's plans to impose an interim levy on insurance brokers.
FSCS: Off the hook
Changes to the Financial Services Compensation Scheme ahead of the introduction of twin peak regulation have angered brokers, but should insurers be held more accountable?
More than 'token gesture' required for mis-selling insurers, claims Biba
The British Insurance Brokers’ Association has responded to the latest Financial Services Authority’s funding consultation by calling for insurers to be re-introduced to cross subsidies in more than a token way in the Financial Services Compensation…
Biba warns brokers on £21m FSCS levy
The British Insurance Brokers' Association has warned that it is increasingly likely that a proposed levy on insurance brokers will come into effect.