Financial Services Authority (FSA)
FSA confirms training and competence regime changes
The Financial Services Authority (FSA) has published final rules to strengthen training and competence requirements for all individuals carrying out customer facing regulated retail activities.
Broker leaves RBSI in management buyout
RBS Insurance (RBSI) has agreed to sell Devitt Insurance Services to its existing senior management team, lead by managing director William Hughes.
Bankers challenge FSA over PPI
The Financial Services Authority’s (FSA) principles-based approach to regulation has come under attack from the British Bankers Association (BBA).
FSA warned not to stifle innovation
The length of time it takes the Financial Services Authority (FSA) to grant financial services firms permission to expand their businesses has more than doubled in the last year, says City law firm Reynolds Porter Chamberlain (RPC).
Reportage - CPD requirements: Under development
No one seems to disagree with the principle of CPD, but why hasn't it proved effective so far in the broking profession? Liz McMahon reports.
Broker Expo 2010 review: Exceeding expectations
A record number of brokers flocked to Coventry's Ricoh Arena to attend last month's Broker Expo. Louise Meeson reports on why the event just keeps on getting better. If you weren't there, here's what you missed
Power hour: Calling in the experts?
This month's debate, with live interaction from Twitter, ascertains what value MGAs bring to brokers' businesses and the wider market. Are they simply another mouth to feed or the specialists that insurers and brokers need to service a diverse client…
FSCS review put on back burner
The Financial Services Authority (FSA) has put plans to overhaul the Financial Services Compensation Scheme (FSCS) on hold in the wake of this year's sharp levy hike.
Expo workshop highlights need for Risk Transfer consistency
Brokers must put pressure on the Association of British Insurers (ABI) and individual insurers to adopt a consistent approach to Risk Transfer wordings within their Terms of Business Agreements (TOBA), according to compliance expert Branko Bjelobaba.
Reportage - training delivery: Digital vs. face to face
Traditionally, training has been about face-to-face contact but there has recently been an increase in online offerings, which claim to provide the same quality of tuition with less cost and increased convenience. Edward Murray looks at the pros and cons…
Broker regulation - Viewpoint: Securing the future
John Greenway on how, after 23 years as an MP, he is now turning his attention to helping brokers with the new regulatory regime.
Management clinic - regulation: Conditional compliance
A number of our procedures are not compliant but I see little value in doing anything about it now because the Financial Services Authority will soon be gone. What is the point?
Legal - IMD2: Mediation directive is up for grabs
The Insurance Mediation Directive is set to be superseded. James MacNish Porter says now is the time to give the EU your input.
FSA takes firms to court
The Financial Services Authority (FSA) has obtained a High Court ruling appointing provisional liquidators over three firms that the regulator believes were engaged in insurance activities without authorisation.
Video: Keychoice Underwriting's Jonathan Davey argues the case for MGAs
In an exclusive interview with Insurance Age, MD of Keychoice Underwriting, Jonathan Davey, argues that MGAs continue to deliver value to both broker and insurer alike.
Regulator puts brakes on FSCS review
The Financial Services Authority (FSA) has put on hold plans to overhaul the Financial Services Compensation Scheme (FSCS) in the wake of this year’s sharp levy hike.
Market Watch - Networks: Opening connections
Emmanuel Kenning argues that broker networks are becoming more popular, though managers need to think carefully about the offerings available through them before committing their firms.
Focus - Management Structures: Building a board
Without a great team in the boardroom, any broker, regardless of size, is missing a trick that can pay long-term dividends for their business, writes David Waller.
Management Clinic - Due Diligence: What's in the box?
We have the opportunity to make our first acquisition of any size and it looks like a good fit. How can we be sure of what we are buying?
Deloitte says industry must address issue of brokers selling motor at a loss
Motor insurers need to increase their premiums while maintaining their customer base in order to return to profitability, according to Deloitte.
Upping FOS compensation could ruin small brokers
The Financial Services Authority's (FSA) proposal to increase the maximum level of Financial Ombudsman Service (FOS) compensation to £150,000 may force small brokers out of business, legal experts have warned.
Reportage - FSCS redress: Speak now...
Colin Darnell gives practical advice on how brokers can act to mitigate the significantly increased FSCS levy as well as potentially help shape future funding arrangements.
Reportage - Coping with regulation: A regulatory health check
Whether they choose to call in a consultant, turn to their network or go it alone, brokers have a few options available to them when it comes to handling the pressures of regulation. Edward Murray explores the pros and cons of the different approaches.