Premium Credit boss voices support for FSA premium finance probe
Premium Credit has backed the regulator's review into brokers' premium finance deals, insisting that there should "always be full transparency" for any financial product.
The Financial Services Authority (FSA) recently completed a review into brokers' roles in arranging premium finance plans for commercial customers.
Following the survey, the regulator concluded it would consider "taking a closer look at firms' practices" and take "appropriate action" with individual firms when required.
And the credit provider's CEO Andrew Doman explained that he "fully supports" the FSA's findings.
"The FSA also reinforced the need for brokers to act in their client's best
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 Insurer
Allianz planning new regional broker office in 2025, says Holmes
Allianz has plans for a new branch in 2025, UK CEO Colm Holmes told Insurance Age, as he highlighted the provider’s commitment to regional underwriting.
Insurers and brokers must develop services to help customers understand risks – Neil Galjaard
A panel at the Association of British Insurers annual conference explained SMEs and mid-corporate businesses need education on risk management, with insurers and brokers playing a key role.
FCA and PRA committed to driving competition and innovation
The Financial Conduct Authority is looking at what rules can be stripped out following Consumer Duty and if fair value assessments need to be every year.
Allianz UK boosts GWP in 2024 as operating profit up 52%
Allianz UK has reported a 5.5% rise in total business volume last year to £4.66bn with profit surging ahead.
People Moves: 24 – 28 February 2025
Stay in the loop with the latest personnel moves in insurance.
Aviva “ruthlessly focused” on being consistent for brokers, says CEO Storah
Aviva grew UK SME business by 12% in 2024 with a more or less 50/50 split between rate and policy count growth, its UK and Ireland general insurance CEO has told Insurance Age.
Robic succeeds Furby as EMEA president at Chubb
Ana Robic has been appointed regional president for Europe, Middle East and Africa at Chubb, succeeding David Furby, who has been named executive chairman of EMEA.
Insurance industry needs to improve communication on motor premium costs – Colm Holmes
At the Association of British Insurers Annual Conference today, Allianz UK CEO Colm Holmes claimed the insurance industry is doing a “poor job” of explaining the reasons for costs of premiums.