Your opinions: Any thoughts on implementation of the Consumer Credit Directive?
Insurance Age welcomes your opinions via email, Linked In, the Broker Forum, Twitter and good old-fashioned letters. Send your views to Martin Friel, editor, Insurance Age, VNU House, 32 - 34 Broadwick Street, London, W1A 2HG, or email martin.friel@incisivemedia.com
Allan Gambles: Now that Biba has posted some guidance notes on its website, the implications of this new legislation are quite worrying in terms of changes we may now have to introduce very quickly for customers who pay us by short-term instalments.
In addition to third-party premium finance we also offer customers the facility to pay us by our in-house instalment scheme. Typically this will require a deposit followed by one or two monthly payments so the whole debt is cleared in 90 days maximum
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.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
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. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Regulation
Blog: Does size matter when it comes to complaining about the regulator?
With the Consumer Duty kicking in under a year ago, regulation continues to be at the forefront of everyone’s minds, with the cost of compliance comparably hitting smaller firms the most, argues Rosie Simms.
Biba Conference 2024 countdown: Flood Re’s Kelly Ostler-Coyle
For today’s Biba Conference countdown Kelly Ostler-Coyle, head of communications at Flood Re, remembers the puppies in the wellbeing zone and teases the grand unveiling of its new interactive property flood resilience model.
Hedron CEO Haggart eyes-up offering branded products
Chris Haggart, CEO of Hedron, intends to offer branded products drawing on the strength of the partnership with Broker Insights it entered into last year.
FCA’s Brewis warns MPs premium finance action could have ‘waterbed effect’ for consumers
The Financial Conduct Authority’s insurance director Matt Brewis has raised the concern that taking action on premium finance would have little or no impact on the price of motor cover.
FCA set to raise broker levy by 9.8%
The Financial Conduct Authority is set to hit brokers with an inflation busting 9.8% hike in fees for the general insurance mediation pot in 2024/25.
17% of brokers report unprofitable quarter to FCA financial resilience survey
An average three-month net profit of £22,636.50 has ranked insurance brokers and intermediaries as the third most profitable sector in the latest Financial Resilience Survey by the Financial Conduct Authority.
FCA adds four more S166s to sector
The Financial Conduct Authority has slapped the general insurance and protection sector with another four skilled person reports as the crackdown continues.
FCA warns insurers, again, on undervaluing total loss motor claims
The Financial Conduct Authority has confirmed finding evidence that suggests motor insurers are offering customers less than the full value of written-off or stolen vehicles and, in some cases, only increasing offers when a customer complains.
Most read
- Zurich strikes five-year capacity deal with MGA Freedom Services
- Pen inks £150m social housing capacity deal with SiriusPoint
- RSA and NIG brands to become one next year but undecided on name