Insurance chiefs and boards must produce an annual assessment of compliance with the Consumer Duty that highlights flaws rather than papers over cracks, a former Financial Conduct Authority leader has warned.
The Financial Conduct Authority is set to squeeze the insurance industry over the next 18 months, to prove to the next government it is a watchdog worth keeping.
Insurers need to stop advertising themselves as being a panacea and be honest with customers if the industry is to be trusted, according to James Daley, managing director of Fairer Finance.
Editor’s View: Emma Ann Hughes argues treating travel insurance customers fairly doesn’t mean treating them like an idiot only capable of ticking a box.
The Financial Conduct Authority has reminded insurers to reflect on what “fair” means going forward, after Direct Line was slammed for underpaying customers.
As the cost-of-living crisis persists, customers reduce insurance coverage, yet premiums are rising. In the inaugural segment of this three-part series, Insurance Post and PayPal collaborate to examine how insurers can retain customers during economic…
The Financial Conduct Authority has launched a consultation to update guidance, introduced during the Covid-19 pandemic, to support insurance customers in financial difficulty.
Financial Conduct Authority CEO Nikhil Rathi has said that the regulator has set itself a target to reduce the number of complaints going to the Financial Ombudsman Service on the back of the incoming Consumer Duty measures.
Insurance Post has teamed up with Verisk for a new video show, in which we tasked six industry rising stars to solve some of the biggest historic challenges faced by the market over the past two centuries.
The cost-of-living crisis is driving the great cancellation as people cut non-essential purchases. Streaming services such as Netflix, and gym memberships were some of the first to go. Bob Meier, product solutions manager at EIS, considers whether…
The Financial Conduct Authority has identified key areas where firms did not meet its expectations regarding fair treatment of customers when dealing with their business interruption claims.
As the soaring cost of living is putting pressure on households, the Financial Conduct Authority has instructed insurers to protect customers from unnecessary products or add-ons and unfair penalties.
Following the announcement of Consumer Duty by the Financial Conduct Authority, Katherine Webster, director of governance, risk and conduct at Axa Commercial, urges brokers and insurers to work together to understand what the duty will mean for them, and…
Helen Lord, CEO of the Vulnerability Registration Service, and Rich Tomlinson, managing director of Percayso Inform, consider the industry's shortcomings on consumer protection, and highlight ways in which it can now take practical, cost-effective action…
The Financial Ombudsman Service reported a 33% decrease in complaints on insurance pricing in the last reporting period, however customers continue to report changes to premiums may be unfair.
FCA move to ban ‘phoenixing’ a step in the right direction but more could be done to stop dishonest CMCs
Financial Conduct Authority plans to impose significant changes on claims management companies that would prevent ‘phoenixing’ are a step in the right direction but the industry has called for more action to stop dishonest CMCs.
Insurance Post TV: Price walking special – what impact has the FCA ban had on the personal lines market?
Insurance Post reveals the latest episode of its ‘magazine-style’ television show.
Citizens Advice ethnicity penalty report must be "a wake up call to the Financial Conduct Authority” to act on its promise to HM Treasury as insurers face warnings the fallout from this could be as far reaching as the Test Achats gender ruling.
Post investigates what changes the industry has seen following January’s dual pricing reforms, and if insurers are following the right path on price walking.
A-Plan CEO Kelly Ogley told Post she expects the market will 'reach an equilibrium' on pricing in the next few months following Financial Conduct Authority reforms.
Intelligence: Post's complaints matrix shows the products that let consumers down during the pandemic
Complaints data from the Financial Conduct Authority and the Financial Ombudsman Service helps to create greater transparency and accountability for insurance firms. As Post brings together the most comprehensive set of complaints data from 2014 onwards,…