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The Blog Spot: A holiday warning

ida-axling

Bluefin's £4m FCA fine has shaken the market and Ida Axling wonders whether this is just the first of many similar stories to come.

Every year since I started writing about insurance, December has been a month where nothing newsworthy happens and we all keep busy drinking bubbly and eating chocolate, whilst mingling with other people in the sector.

And in all honesty there has been some of that going on this year as well – but in terms of news we definitely haven’t seen the usual Christmas-time lull (yet!).

So far this month our most read stories have included fraudsters being sentenced, new MGAs being set up and Amazon’s

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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.

PRA fines Direct Line underwriter £10.6m

The Prudential Regulation Authority has fined UK Insurance Limited, a subsidiary and principal underwriter of Direct Line Group and now part of Aviva, £10.625m for a miscalculation of its Solvency II balance sheet during 2023 and 2024.

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