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Insurance Age weekly news update

This week, Jessica Pothering reviews the lead broking news headlines: Fortis Insurance reports a str...

This week, Jessica Pothering reviews the lead broking news headlines: Fortis Insurance reports a strong market position; Biba negotiates a special FSA fee payment scheme for members; Zurich releases its financial results; and ex-Allianz commercial manager starts a new business for brokers.

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FCA warns on fake letters

The Financial Conduct Authority has warned of fake letters claiming to be from deputy CEO Sarah Pritchard and referencing a fake FCA employee.

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.

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.

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