FOI: Brokers make up almost 50% of cloned firm warnings over past decade
The Financial Conduct Authority has warned of 48 personal and commercial lines insurance intermediary clones in the past 10 years, a Freedom of Information by Insurance Age has revealed.
According to the FOI, the regulator issued 104 insurance firm-related alerts in the period, meaning brokers made up almost half the total.
The FOI was submitted after a number of clone cautions in the past year (see box, below) where the FCA has sounded the alarm about fraudsters impersonating genuine companies.
The level of annual warnings for all insurance firms during the past decade has varied significantly from three to 19.
The data shows alerts grew gradually from 2016/17 till 2021/22, the
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 or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
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
Allianz Commercial staff restructure came in response to broker efficiency demands
Colm Holmes, CEO of Allianz UK, has highlighted broker requests and market conditions led to the management restructure, as he emphasised the insurer’s best years are ahead.
French new entrant buys portfolio of UK firms
French broking and mortgage group Odealim has bought a Leicester-based portfolio of firms including Rhino Trade Insurance, Rhino Home Protect, Rhino Protect, Vantage Fee Protect, Quest and ICPA.
People Moves: 3 – 7 August 2026
Follow the latest personnel moves in insurance.
Allianz UK grows profit by 18% with stable business volumes
Allianz UK increased operating profit by 18.2% in the first half of 2026 to £265m as the insurer cited that broker relationships “remain key”.
Why The Mills Review is the AI starting pistol for brokers
Most coverage of The Mills Review, published on 6 July, has focused on what it does not do. There is no new AI rulebook, no new obligations and nothing specific to implement. But that somewhat misses the point, writes Robin Knowles, compliance consultant at UKGI.
Ripe reveals deal costs and 21% turnover growth
Digital managing general agent Ripe Thinking spent £22.8m on a pair of deals last year as turnover and operating profits rose.
Renters’ Rights Act strengthens brokers’ role as trusted advisers to landlords – Aviva research
A survey of over 500 UK landlords has pinpointed brokers and insurers as the leading source of support as they navigate an increasingly complex regulatory environment, according to Aviva.
Admiral profits back 18% as CEO describes market as “more challenging”
The UK’s largest personal lines insurer Admiral has reported an 18% decline in group profit before tax to £429.2m (H1 25: £521m) in its half year results today.