Regulation
Politics and future of trading lead Liiba’s 2024 agenda
Politics, artificial intelligence and the campaign to get underwriters and brokers back into the Lloyd’s underwriting room lead the London & International Insurance Brokers Association’s 2024 agenda.
David Perry targets 15% growth for FSBIS per year
David Perry, CEO of FSB Insurance Service, told Insurance Age that the company is eyeing 15% member policy count growth per year and continual team development.
Biba unveils ‘Managing risk for growth and economic security’ theme for 2024 manifesto
The British Insurance Brokers’ Association has called for a proportionate regulatory framework that can facilitate growth as it unveiled its 2024 manifesto, ‘Managing risk for growth and economic security’.
Insurance leaders upbeat on start to 2024 but inflation and interest rate worries remain
Almost four out of five senior insurance executives (79%) are optimistic about business growth this quarter, according to research by KPMG UK.
Review of the Year 2023: Sicsic Adivsory’s Nadege Genetay
Nadege Genetay, partner at Sicsic Advisory, risks hate mail by citing the FCA action on multi-occupancy building insurance as her highlight of 2023 and predicts some brokers might move away from commission to remuneration based on work performed.
Blog: Paul Tasker on brokers’ anti-money laundering responsibilities and actions
Paul Tasker, CEO of Reg Technologies, sets out responsibilities and a ‘must do’ list for brokers to deliver their crucial role in the fight against money laundering.
Broking Success: Reputation and referral key to growth
Blackford Insurance founder and managing director, Tom Aldridge, is looking to double the business in the next five years.
FCA warns of Axa clone
The Financial Conduct Authority has warned of a clone claiming to be Axa Insurance UK and Axa Investment Managers UK.
FCA authorisation performance dips in Q2 2023
The Financial Conduct Authority has seen its authorisations performance in four out of five categories affecting brokers slip backwards in Q2 2023.
Blog: As Amazon ramps up drone deliveries, brokers should take note
Amazon’s foray into drone deliveries is creating an insurance market brokers should not ignore, according to Moonrock founder and MD Simon Ritterband.
Biba welcomes Afolami as Economic Secretary to the Treasury
Biba has welcomed the appointment of Bim Afolami, and expressed hopes of a positive relationship while praising predecessor Andrew Griffith.
What does it take to be a broker NED?
Broker non-executive directors need to have excellent communication skills, bucket loads of experience, and be mindful of conflicts of interest, experts tell Ida Axling.
FSCS open for claims against failed broker
The FSCS has listed FML Insurance Services Limited, trading as Entertainment Insurance Services, as a failed company.
Momentum MD Pepper expects to reach £100m GWP by 2025
Momentum Broker Solutions is on track to reach the £100m gross written premiums milestone by the end of 2024, which is a year ahead of target, according to Howard Pepper, its founder and managing director.
FCA urges focus on Consumer Duty annual board report obligations
Nisha Arora, director of cross-cutting policy and strategy at the Financial Conduct Authority, has called on firms not to delay their preparations for the annual Consumer Duty board reports.
Opinion: How SME brokers can seize the opportunity of the regulators’ post-Brexit regime
The post-Brexit insurance regime has flushed out the unstable offshore insurers that once passported into the UK through Europe. Some of the hard-to-place risks will have less options, so brokers must now step up and show their worth.
Brokers pledge to stop sharing building commissions and cap fees
Five top 100 UK broking groups have pledged to end sharing building insurance commissions with landlords and to cap fees. However, many others have not signed up including Gallagher UK who has refused to back the pledge in its existing version over…
FCA data reveals spike in insurance skilled persons reports
The Financial Conduct Authority has revealed commissioning seven skilled person reports across the general insurance and protection sector between July and September.
Biba delivers fair value assessment framework
The British Insurance Brokers’ Association has launched a fair value assessment framework, after the Financial Conduct Authority took aim at brokers in its review of flat insurance costs.
FSCS adds Martyn Beauchamp as interim CEO
The Financial Services Compensation Scheme has appointed Martyn Beauchamp as interim CEO. Beauchamp will join the board as an executive director.
Has the FCA’s new appointed representatives regime agenda hurt the sector?
The Financial Conduct Authority’s new regime for appointed representatives came into force in December last year. It puts a fresh burden on those working in the AR sector. What has the impact been?
FCA not banning commission for brokers, says Sheldon Mills
The Financial Conduct Authority is not looking to ban or set commission levels, but brokers have more work to do in valuing their services, according to executive director of consumers and competition Sheldon Mills.
Passing the £1,000,000 milestone
It is a cliché, but there is a saying that the first million is the hardest. With this in mind, Jonathan Swift canvassed opinions from broker founders to find out their experiences of passing this number in gross written premium or – in some cases –…
Biba welcomes FCA flat insurance reforms
The British Insurance Brokers’ Association has welcomed the Financial Conduct Authority’s rule changes on residential multi-occupancy buildings insurance.