Regulation
Biba takes action on FCA coronavirus warning
The trade body has pledged to support members as the regulator insists all firms must have contingency plans in place to deal with major issues such as Covid-19.
FCA under attack for "comprehensively and scandalously" failing consumers
Regulator rejects claims from Gina Miller's True and Fair Campaign, stating they contain “numerous inaccuracies", as campaigners call on the Chancellor of the Exchequer to review Andrew Bailey's appointment as governor of the Bank of England.
FCA sounds alarm over Brexit, misconduct, and data usage
The regulator examined several areas of potential harm in its annual review of the general insurance sector.
News analysis: Why do brokers need to care about the FCA focus on D&I?
A recent letter from the regulator could indicate that it wants to widen its remit to include diversity and inclusion. Should brokers be worried? Martin Friel reports.
Gefion's solvency falls again after order from Danish regulator
The unrated provider was told to restate information in its annual report earlier this month.
Blog: How does the SM&CR approach misconduct?
Nick Wilcox and Rolleen McDonnell of law firm BDBF examine where brokers may fall foul of the latest regulation to hit intermediaries.
FCA appoints interim CEO
Current incumbent Andrew Bailey joins the Bank of England as governor on 16 March.
The Blog Spot: Breaking barriers to insurance
As Biba focuses on improving access to insurance in its manifesto, commissioning editor Laurence Eastham considers where changes will occur in 2020.
Biba focuses on access to insurance in 2020 manifesto
Manifesto includes 37 commitments and 29 calls for action across nine key areas including regulation, broking challenges, Brexit, and transport.
By Miles receives FCA ‘open banking’ licence
InsurTech will be able to access the financial data of consenting customers.
FSCS levy hike reignites call for separate broker pot
Expected broker levy rose to £23m for 2020/21 after spike in PPI complaints.
FSCS hikes broker levy up by £11m for 2020/21
Organisation says indicative levy for general insurance distribution is £23m and publishes Plan and Budget for the next financial year as total levy goes up by £87m.
Former FCA insider develops compliance platform for brokers
Industry veteran Michael Sicsic partners with Governor Software to help brokers and insurers digitalise key compliance processes in a changing regulatory environment.
Strategy reform reveals FCA data drive
The watchdog wants to use automation to deepen understanding of markets but has been warned against developing an over-simplified view of the market.
FCA warns insurance managers to tackle misconduct
Not addressing non-financial misconduct may lead managers to fail the SM&CR.
Gefion meets €5m liquidity deadline
The Danish provider has complied with the order from a regulator to have liquid assets of at least €5m by the end of 2019, after further investment from shareholders.
Blog: Is insurance picking up the bill for outdated building regulations?
Alison Whittington, head of housing at Zurich, discusses the hazards of modern properties and how insurers are getting involved.
Whistleblowing failures prompt regulatory intervention at Lloyd’s
PRA has laid down new rules after the Society of Lloyd’s disclosed that it had not maintained an anonymous whistleblowing channel for 16 months.
FCA launches call for input on open finance
Regulator is looking to extend the principles of open banking to other sectors including general insurance.
Blog: Is it curtains for net-rated products?
Ann Peel, technical consultant at Insurance Compliance Services, discusses the potential impact of the FCA's latest interventions.
Broker turned Tory MP Craig Tracey re-elected with record majority
Tracey, who is chair of the All-Party Parliamentary Group for Insurance and Financial Services, got 65.9% of votes in North Warwickshire and Bedworth.
Tory broker Melanie Hampton predicts "unusual" election
The Alexander Miller MD, who is a Conservative cabinet member on Wandsworth Council, says voting patterns are changing and highlights her belief in the importance of securing a Brexit deal.
Blog: When does ‘banter’ become harassment?
Louise Lawrence and Leah Caprani of Winckworth Sherwood LLP examine how insurance firms can ensure they provide a safe working environment.
D&O rate increases hit 77.3%, reports Marsh
Company warned that there is no end in sight to the recent rate hikes in the sector.