Group u-turns on desire to be part of FCA case as Hiscox continues to assess its separate arbitration claims.
Action follows the provider's failure to maintain sufficient technical reserves between February 2010 and September 2013.
But the regulator also describes the sector as resilient and robust in a letter to general insurance CEOs.
Insurers’ counsel have decried the Financial Conduct Authority’s intention to use the “controversial” Cambridge analysis of Covid-19 spread in its business interruption test case, as representatives warned another trial might be needed to iron out…
Hiscox aims to compare Covid-19 economic hit to Sweden and ‘draconian’ UK in Financial Conduct Authority BI test case.
The watchdog says it is working on getting the fake site taken down.
The regulator's updated preliminary list shows that the scope of the legal proceedings has been extended to cover a total of 91 policy types.
Watchdog surveys 13,000 firms as it seeks to understand the effect Covid-19 is having on the finances of regulated firms and guide its supervisory actions.
Insurance Cares: The present pandemic has underlined the importance of a robust vulnerability strategy. RWA's Kirk Ford outlines how insurance brokers might prepare for an increase in incidences of vulnerability - or an exacerbation of existing cases.
A curated virtual event features top speakers, live webinars and a chance to network with state-of-the-art match-making technology.
Pressure groups take different paths over whether to suspend their own legal proceedings while regulator's case goes forward as it is revealed three broker wordings from Pound Gates, Marsh and Gallagher will be assessed.
Commission and transparency row rears its head just as brokers feel the pinch amid market hardening
The watchdog expects the test case, to determine the validity of business interruption coronavirus claims, to be heard in the second half of July.
IdRisk's Stephen Mooney responds to Mactavish's report on broker remuneration.
Police arrested a man yesterday (27 May) for selling fraudulent car cover and offering it to NHS workers at a discount.
Compliance organisation RWA warned clients of a compliance survey email claiming to be from the regulator.
Our expert panel warns that brokers with EU trade who haven't acted already may have left it too late.
Trade body says brokers are acting in their customers' best interests and are following FCA rules on remuneration.
Report claims brokers receive up to 80% of their remuneration from insurers with Mactavish saying more businesses are “questioning the role their brokers play" as coronavirus crisis "brutally exposes" problems in the market.
The levy will be £18m falling from the indicated £23m, however, it is still more than the £12m collected last year.
There is no provision for equivalence in the IDD and this means brokers with EU clients need to set up EU entities to trade in the bloc.
Regulator issues call for more information as it puts together its High Court test case with the aim to resolve uncertainty for businesses making claims.
Move requires firms to consider payment deferrals, premium reductions and waiving cancellation fees.
Romero and NDML’s Simon Mabb says why he believes brokers must unite with the regulator to overcome the current Covid-19 business interruption dispute.