Financial Ombudsman Service (FOS)
News analysis: A question of fair value
Brokers and insurers could face increased scrutiny as the Financial Conduct Authority zones in on fair value. Martin Friel investigates what this means for insurance businesses
FCA proposes £7.5m BI special fee for insurers in levy consultation
The fee relates to legal costs following the BI test case and is part of a raft of proposed changes relating to fees and levies ahead of publication of the watchdog's budget for 2021/22.
Opinion: Fees but not as we’ve known them
Biba’s Steve White considers if regulators have gone too far in terms of the fees and levies they are asking for from insurance brokers
FOS: Covid complaints continue
But PPI remains the most complained about product as body highlights proposed fee structure in wake of coronavirus.
Insurance Covid-Cast episode 16: “From feast to famine in ten days” – How the travel insurance sector is dealing with the Coronavirus with no sales
In the latest episode of Post and Insurance Age’s video series we gathered together a group of travel insurance experts to discuss how the travel insurance sector is coping with a “tsunami of claims” and whether it will bounce back post-pandemic.
Insurance Covid-Cast - episode five: Could the FOS be key to help bring clarity and nix growing number of SME BI complaints
In the latest episode of Insurance Post and Insurance Age’s new series of video casts brought to you while our journalists are in isolation lockdown we discuss the ongoing confusion around business interruption cover, and what is needed to bring some…
FOS funding consultation closes today
Organisation proposes funding overhaul as it expects to become smaller organisation after the 29 August deadline for PPI complaints.
FCA proposes £537.7m fee budget for 2019/20
The figure is a 2% increase on last year’s with £29m to come from general insurance mediation.
Flaxmans launches ombudsman SOS service for brokers
The service has been designed to help brokers assist clients when claims are refused.
Blog: Beware of the FOS
Ian Mason, of Gowling WLG, considers the impact of the compensation limit increase to £350,000.
FCA increases Financial Ombudsman Service compensation limit to £350,000
The change will see the limit go up from £150,000 from 1 April and could keep going up annually.
FCA finalises no deal Brexit guidance
Regulator clarifies rules around Gibraltar-based firms.
FOS consulting on near doubling of levy
Ombudsman looking for 28% increase in income for 2019/20.
Review of the year: March 2018
As we moved into spring brokers were interested in the names of the top five most complained about insurers, Axa inking a $15bn deal with XL, the collapse of CBL and Alpha as well as mergers and acquisitions.
FCA cancels broking firm's authorisation
Larksway Investments was stopped from providing insurance broking services in September 2017.
FCA prepares for no deal Brexit
The watchdog has published a set of proposals to prepare for the possibility of leaving the EU without an implementation period.
Blog: Should brokers be concerned?
Ann Peel poses the question as more SMEs will be able to complain to the Ombudsman.
FCA grants more SMEs access to FOS
Regulator also consulting on raising maximum compensation limit to £350,000.
Quizzical questions: 1 June 2018
Test your knowledge of the week's news with our topical quiz.
FOS reveals “600-700” complaints on telematics insurance last year
Ombudsman gives update after highlighting growth in “black box” complaints in annual review.
Insurance complaints to Financial Ombudsman hold steady in 2017/18
But organisation warns over loyalty and telematics complaints.
Biba 2018: FCA pledges “perennial” client money focus
The regulator spoke at a panel session on how customers are at the heart of the broker business at the Biba conference.
Blog Spot: Two sets of claims statistics
Spoiler alert – this blog contains statistics.
FOS reveals top five most complained about insurers
Total number of new general insurance complaints fell by 16% in second half of 2017.