FCA claims review a “wake-up call”
Industry admits more work is needed on claims following regulator’s findings
The findings of a review by the Financial Conduct Authority (FCA) published last month into claims handling for SMEs should serve as a “wake-up call to the industry” a compliance expert has warned.
The regulator assessed 25 firms – five insurers, 10 intermediaries (including five managing general agents) and 10 loss adjusters – and found the claims service is not consistently working in the interests of many businesses, resulting in a poor claims experience. The watchdog focused on claims over
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 Broker
Jensten to invest £1m in fledgling brokers through Coversure
Jensten Group will invest up to £1m to help 15 people to start their own brokers this year, with investments made through Coversure.
Shire Insurance returns to Ecclesiastical for vet schemes
Veterinary sector specialist broker Shire Insurance has teamed up again with Ecclesiastical on all schemes business after a two-year hiatus.
JMG strikes its biggest deal of 2024 with BQI swoop
JMG Group has bought BQI Insurance and sister company BQI Protection.
Biba Conference 2024 countdown: Applied Systems’ Tom Needs
An advocate of not leaving the Biba Conference early and of the benefits of automation, Tom Needs, CEO of Applied Systems Europe, outlines his thoughts ahead of the upcoming event.
Cowens appoints Mark Wilson as MD
Midlands-based broker Cowens Group has named Mark Wilson as managing director of its general insurance division.
Biba launches electric car scheme
The British Insurance Brokers’ Association and Novo Insurance have launched a motor insurance scheme tailored for electric cars in the UK market.
Recorder to unveil commercial platform for brokers at Biba Conference
Insurtech Recorder will roll out its SME focused software platform at the British Insurance Brokers’ Association’s conference in Manchester next month with a promise to offer a free version exclusively to attendees.
Rokstone acquires box at Lloyd’s
Managing general agent Rokstone has taken box 355 located on gallery three at Lloyd’s, in a three year deal.
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- RSA confirms trading structure ahead of NIG integration
- In Depth: Cyber risk and AI – friend or foe?