Time line
From the Lloyd's Act to the FSA: a selective sprint through Insurance Age's front-page stories, from May 1979 to September 2004
JANUARY 1980: A fire in the heart of the City's insurance quarter is likely to cause underwriters £500,000 for damage to their own offices
JUNE 1980: Fisher Report into scandal at Lloyd's proposes radical reform
APRIL 1981: The newly launched Insurance Ombudsman Bureau promises independent advice and a fairer crack of the whip
MARCH 1982: Attempts to block the Lloyd's reform Bill fail as it returns to the Commons
MARCH 1985: Statutory regulation comes a step closer with Government proposals for new
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 Regulation
FCA issues another Close Brothers clone warning
The Financial Conduct Authority has warned that fraudsters have been impersonating Close Brothers trying to scam people with a clone of the authorised firm.
Closing the UK’s access-to-justice gap
Sponsored blog: David Haynes, ARAG CEO, explains why access to justice matters, the role the insurance industry plays in extending it, and why 2026 could prove a critical year.
FCA proposes 1.4% fee rise for broker block
The Financial Conduct Authority is consulting on raising levies from brokers by 1.4% in 2026/27 – double its annual budget increase – as it also laid out its work programme going into the second year of its five-year strategy.
FOS and FCA reveal next steps for system reform
The Financial Ombudsman Service and Financial Conduct Authority have outlined the next steps on their joint work to modernise the redress system.
ManyPets confirms social media clone
Pet insurance managing general agent ManyPets has confirmed a customer was contacted by an X account impersonating its brand and has issued a warning on how increasingly convincing scammers can appear.
Aviva responds to Direct Line’s £10.6m fine
Aviva has confirmed it was fully aware of the ‘historical’ accounting errors that have led to the Prudent Regulation Authority hitting Direct Line Group with a £10.6m fine and stated there will be no impact on the integration or the financial benefits it expects from the takeover.
PRA fines Direct Line underwriter £10.6m
The Prudential Regulation Authority has fined UK Insurance Limited, a subsidiary and principal underwriter of Direct Line Group and now part of Aviva, £10.625m for a miscalculation of its Solvency II balance sheet during 2023 and 2024.
Chris Knight succeeds Brewis as FCA insurance director
The Financial Conduct Authority has recruited Chris Knight to take on the director of insurance role within its supervision, policy and competition division starting July 2026.