FCA to consult on removing minimum training and development hours in insurance
The Financial Conduct Authority will open a consultation this summer including on the definition of SME used in the insurance market as part of its ongoing review of Consumer Duty rules.
The watchdog launched a discussion paper last July on the regulation of commercial and bespoke insurance business. It invited comments on whether its rules strike an appropriate balance between safeguarding customers who need regulatory protections, and competitiveness in the market.
The British Insurance Brokers’ Association called for larger commercial customers to be removed from the scope of the Consumer Duty in its response.
Call for inputAlongside the discussion paper the FCA also launched a
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insight
Alan Boswell buys Suffolk broker
Alan Boswell Group has bought commercial insurance broker Andrew Thompson and Associates in its first deal of the year after two purchases in 2024.
Howden partners with the Lawn Tennis Association
Howden has served up a three-year partnership with the Lawn Tennis Association.
SFO accuses United Insurance Brokers of failing to prevent international bribery
The Serious Fraud Office has accused United Insurance Brokers Limited of failing to prevent international bribery and representatives of the company will appear before Westminster Magistrates’ Court on Wednesday 7 May to face the charges.
Axa warns brokers on criminal gangs targeting vacant commercial properties
Axa UK has urged brokers to make sure customers are vigilant about criminal gangs targeting empty commercial properties as the insurer has seen a steep rise in the problem in recent months.
A-Plan details £3.6m rebrand spend as turnover ticks up but profits dip in 2024
A-Plan, now rebranded as Howden, grew turnover by 2.1% to £167.3m in the year ended 30 September 2024 as investments in staff, rebrand costs and IT spend hit the bottom line.
People Moves: 14 – 17 April 2025
Stay in the loop with the latest insurance personnel moves.
Policy Expert has “clear focus” on UK with plans to double the business
Personal lines specialist Policy Expert is targeting organic growth in the UK, with plans to double the business in the next three to five years, according to CEO Steve Hardy.
Biba 2025 Countdown: Flood Re’s Kelly Ostler-Coyle
Kelly Ostler-Coyle, head of communications and stakeholder engagement, Flood Re looks forward to sharing information about its Chelsea Flower Show medal-winning Flood Resilient Garden, handing out Freddy the Flood Re ducks, and expects Oasis sound-tracked bubbles to flow.