Financial Services Compensation Scheme (FSCS)
FSCS paid claims of £16.5m to former Gable policyholders in 2017
The bankrupt insurer had 60,000 UK policyholders and was working with 12 brokers in UK.
Quizzical questions: 16 February 2018
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Marshall Bailey appointed FSCS chair
Bailey, a non-executive director at Chubb European Group, succeeds Lawrence Churchill.
Biba repeats call for separate FSCS levy pot for brokers
The ABI has also responded to the FCA's consultation on the levy, arguing that insurers should not have to pay for "adviser failures".
Brokers face another FSCS hike and situation could yet get worse
Levy set to jump from £18m to £23m in 2018/19 despite shortening of the accounting period.
Quizzical questions: 3 November 2017
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ABI hits out at FSCS fee proposals
Biba says brokers should not be worse off and calls again for a separate funding class.
FCA publishes fresh FSCS consultation
Regulator reveals proposals on moving protection intermediaries into the general insurance class, the Lloyd’s contribution, and fees to those dealing with unrated insurers.
The productivity gap
Biba’s Steve White argues that the heavy burden of regulation is stifling productivity for brokers.
Bollington's Paul Moors hails "excellent" results for 2016
CEO says 2016 results were "best for some time" after pre-tax profit rose by 54%.
Broking break: Your Top Five
Marmalade, the Financial Conduct Authority, Gable and Moneysupermarket.com hit the headlines this week, with new products, regulation updates, return payments and a fine.
Gable policyholders receive £8.3m return payments
The FSCS has given 28,000 return of premium payments to former policyholders of Gable Insurance.
Firms' Brexit contingency plans may lead to difficulties, says FCA
CEO Andrew Bailey states firms making plans before knowing the outcome of Brexit negotiations may find themselves in a difficult situation.
FCA core fees set to dip for brokers in 2017/18
Sector to benefit from 0.6% reduction if proposed fees are confirmed after consultation.
Brokers’ FSCS levy rises by £5m for 2017/18
New broker levy set at £18m as a result of an expected increase in PPI claims.