Financial Conduct Authority (FCA)
FCA warns of Direct Line clone
Regulator flags Direct Line Sustainability to customers.
Regulatory changes set to bite
Former FCA insider, Michael Sicsic, highlights that developments from the watchdog will hit home in 2022.
Axa granted leave to appeal Corbin & King verdict
Silence from the insurer on whether it will pursue the appeal.
Experts respond to “disturbing” motor insurance ethnicity penalty report
Insurers face challenging questions but the Association of British Insurers insists “insurers never use ethnicity as a factor” to price cover.
Citizens Advice reveals “shocking” insurance ethnicity penalty
A report found that, collectively, people of colour pay £213m more for their car cover.
Final FCA monthly Covid BI claims update puts payout at £1.35bn
Insurers have made £1.05bn in final payments and £303.1m in interim payments.
Hiscox chair calls for more consistency and less bureaucracy in regulation
Non-executive chairman Robert Childs has called on regulators to be more flexible, offer more consistency, and prioritise a competitive edge.
FCA cap on CMC fees comes into force
Regulator claims consumers are expected save £9.6m a year.
FCA confirms scrapping bonuses
The regulator has unveiled a new pay deal against a backdrop of potential strike action.
Analysis: FCA bares its teeth on residential property insurance
Martin Friel explores the likelihood of intervention by the watchdog as premiums go up in a market that has “not worked well” for more than a decade.
FCA dual pricing rules drive biggest monthly premium jump in eight years, says Consumer Intelligence
Average premiums for home insurance rose 9.1% in January while motor was up 4.9%, according to the specialists.
FCA supports long-term economic growth objective
Regulators quizzed by Treasury Select Committee.
Insurer payments for settled BI claims top £1bn
Providers have also made £307.9m in initial payments, according to the latest figures from the Financial Conduct Authority which is set to end its data releases next month.
FCA appoints interim chair
Richard Lloyd will take up the position while a permanent replacement for Charles Randell is found.
In Depth - How brokers can still succeed in personal lines
Martin Friel explores how brokers in the personal lines space can gain the upper hand over direct writers and learns how technology and, surprisingly, regulation are creating fresh opportunities for intermediaries
Brokers urged to engage with Lords' Committee's insurance market regulation inquiry
Biba confirms it will be will be putting in a response to the consultation which closes on 11 February as compliance experts discuss whether the inquiry could have an effect on the regional broker market.
Opinion: Survival of the regulatory-fittest
Former FCA insider Michael Sicsic considers how regulatory reform will hit the broker market
FCA staff vote in favour of industrial action
A ballot saw 87% support strike action against proposed cuts to pay and conditions as Unite accuses CEO Rathi of “waging war” on staff.
FCA names Penny James as chair of its Practitioner Panel
The Direct Line boss succeeds Paul Feeney, CEO of Quilter.
FCA urges brokers to help leaseholders in response to Gove request
The FCA's Sheldon Mills fires warning shot on broker commission transparency and adds the regulator will "use its powers to intervene" as he issues 'Dear CEO' letter amid review of the insurance market for multiple-occupancy homes.
Michael Gove calls on FCA to review rising premiums for residential buildings
In a letter to the FCA and the CMA, the Secretary of State for Levelling Up, Housing and Communities writes he is "extremely concerned" about the pressure leaseholders face from rapidly escalating insurance premiums on blocks of flats following the…
Blog: What are the FCA Value Measures?
Underwriting data expert, Jeremy Keating, outlines key actions for brokers under the newly implemented fair value regime.
Blog: New AR rules should be business as usual
Momentum's Howard Pepper discusses what the FCA's AR consultation means for the broking sector.
Staff to vote on strike action against FCA
FCA told Insurance Age that after considering the recent feedback on its pay and rewards proposals, it now aims to announce an outcome by March.