premium-finance
FCA to clamp down on premium finance outliers in 2024
Briefing: The Financial Conduct Authority’s head of insurance Matt Brewis has labelled premium finance a “poor product”, and warned the regulator has “talked about it enough,” hinting at potential action surrounding the practice in the next 12 months.
Diary of an Insurer: Markel’s Nick Rugg
Nick Rugg, head of fintech and investment management insurance at Markel International, trains for a half marathon, sings karaoke and encourages younger team members to really understand what underwriters are looking for.
Tower Brook acquires Premium Credit; ABI reports motor premiums have fallen 5% in Q1; Aston Lark buys UK Global; and Seventeen snaps up broker
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Sharon Bishop named Premfina UK and Ireland CEO
Premfina has hired Sharon Bishop as CEO for the UK and Ireland.
Second Close Brothers management reshuffle in under a year as Paul Trail leaves
Close Brothers Premium Finance has re-organised its senior management team again following managing director Paul Trail's decision to step down.
FCA extends payment deferral guidance timeframe
The Financial Conduct Authority has kept the temporary measures to help insurance customers hit by the Covid-19 crisis in place until the end of October.
Close Brothers reshuffle sees Sharon Bishop step down as premium finance CEO
Sharon Bishop has stepped down as Close Brothers premium finance CEO, as the company announced changes to its leadership team.
Blog: Premium finance opportunities in a post-pandemic era
In the aftermath of Covid-19, Owen Thomas, Premium Credit’s chief sales officer reflects, on some key changes to the insurance industry and the increasing role insurance premium finance will play.
Briefing: Gefion hopes to go out with a whimper as brokers predict a bang
News that Danish unrated insurer Gefion had entered run-off and solvent liquidation left us and others in the industry feeling somewhat underwhelmed.
Premium finance bosses hail 'smooth' transition to latest guidance
The introduction of further guidance on premium finance by the Financial Conduct Authority including three month payment deferrals for customers hit by the economic impact of the coronavirus pandemic has gone well according to market players.
Regulator to require payment deferrals for insurance customers from Monday
The Financial Conduct authority has confirmed temporary measures aimed at helping insurance customers who find themselves in financial difficulty due to the coronavirus pandemic, including requiring payment deferrals.
Experts warn of potential broker insolvencies due to premium finance proposals
The British Insurance Brokers’ Association and premium finance providers have warned of a possible hit to broker solvency in the event of bad debts under the proposed guidance issued by the Financial Conduct Authority last week.
FCA opts against bringing premium finance into scope of relief measures
The Financial Conduct Authority has decided not to change the rules for premium finance as part of its guidance on temporary financial relief for consumer credit customers which came into force today.
Providers respond as FCA changes premium finance landscape
The Financial Conduct Authority has proposed a range of stop-gap measures to help consumer credit customers manage the financial hit from the coronavirus pandemic.
Premfina no longer funding Gefion premiums
Exclusive: Premfina is no longer funding premiums for unrated Danish insurer Gefion.