Introduction
Welcome to the ninth quarterly Professional Broking Sentiment Survey - the independent industry barometer airing brokers' views. This survey saw the tentative signs of a market cycle about to turn, or at least brokers' hopes that it will. Broker concern about regulation was as marked as ever, however, there were those that were beginning to see some benefits - see the column below
The latest Professional Broking survey continues to track the views of UK brokers on market issues and again makes for interesting reading.
The news that Norwich Union is increasing private car rates seems to be filtering through into the thinking of the respondents to the survey, with a slim majority feeling that personal lines prices will harden over the next three months. However, the numbers are still marginal and we will need to wait for the next survey to determine whether things are going
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More on Regulation
FCA bans broker whose fraud caused client to fail and go into liquidation
The Financial Conduct Authority has banned David Robert Cooke, previously a director at Professional Construction Risks Limited, from working in all regulated activity after he received a police conditional caution for an insurance fraud that led to the collapse of a client.
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.
Four more S166s into insurance firms
The Financial Conduct Authority commissioned four skilled person reports into insurance businesses between October and December 2024, taking the running total for the financial year into double digits.
FSCS opens to claims after Scottish broker stopped from trading by FCA
The Financial Services Compensation Scheme has opened for claims from customers of Arthur Temlett, who traded as Abacus Insurance Consultants and was forced to stop carrying out any regulated activities by the Financial Conduct Authority at the start of the year.
Seven kilometre high pile – FCA moves to clarify email deletion plans
The Financial Conduct Authority has acknowledged it hit the headlines last week with criticism of its plans to delete emails held in staff inboxes after a year, and has sought to explain what it is doing and why.
FCA within a whisker of green sweep on authorisations
The Financial Conduct Authority delivered a top rating of ‘green’ across 16 authorisation metrics with only one ranked as ‘amber’ and none in the red zone during October to December last year.
6% of FCA financial promotions cases caused by GI & Protection
The Financial Conduct Authority has revealed the general insurance and protection sector accounted for 6% of its workload in the final quarter of last year against firms breaching financial promotion rules.
FCA actions against misleading financial adverts nearly doubles in 2024
The Financial Conduct Authority intervened to get nearly 20,000 financial promotions withdrawn or amended in 2024, almost double the amount compared to 2023.