Regulation
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Brokers welcome momentum for FCA BI test case
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.
News analysis: Brokers hit back after Mactavish stokes remuneration debate
Commission and transparency row rears its head just as brokers feel the pinch amid market hardening
FCA names 16 insurers affected by BI legal test case
The watchdog expects the test case, to determine the validity of business interruption coronavirus claims, to be heard in the second half of July.
Blog: What is the client view of broker commission?
IdRisk's Stephen Mooney responds to Mactavish's report on broker remuneration.
Suspected ‘ghost broker’ under arrest
Police arrested a man yesterday (27 May) for selling fraudulent car cover and offering it to NHS workers at a discount.
Scam FCA email targets brokers
Compliance organisation RWA warned clients of a compliance survey email claiming to be from the regulator.
Insurance Covidcast episode 17: As coronavirus hits has Brexit planning fallen by the wayside?
Our expert panel warns that brokers with EU trade who haven't acted already may have left it too late.
Biba brands Mactavish claims "opportunistic" and "wholeheartedly disputes" them
Trade body says brokers are acting in their customers' best interests and are following FCA rules on remuneration.
Brokers under fresh attack due to “huge conflict of interest” over commission
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.
FSCS broker fees £5m lower than predicted
The levy will be £18m falling from the indicated £23m, however, it is still more than the £12m collected last year.
Brokers warned to keep eye on Brexit as transition looms
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.
Covid-19: FCA seeks broker feedback ahead of BI court action
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.
Covid-19: FCA confirms measures to help financially strained insurance customers
Move requires firms to consider payment deferrals, premium reductions and waiving cancellation fees.
Blog: Why brokers need to get behind the FCA on BI
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.
FCA set to take a keen interest in vulnerable customers
Insurance Cares: Report by Consumer Intelligence and Sicsic Advisory shows number of people in the vulnerable customer category has hit 13m.
Brokers under threat in Covid-19 BI dispute
Experts have warned that business interruption could be “the next PPI for brokers “as FCA seeks legal clarity on BI wordings.
Covid-19: Product value under FCA microscope
Providers urged to consider how value of products has changed as customers alter behaviours during coronavirus with product refunds proposed.
Covid-19: FCA urges firms to consider premium reductions and payment holidays
The regulator issued a raft of measures today (1 May) for how financial services firms should behave while coronavirus grips the nation.
Covid-19: FCA bares teeth as BI dispute hots up
Regulator seeks court action to resolve uncertainty on business interruption cover and bring clarity on specific policy clauses.
Insurance Covid-Cast episode seven: Empathetic, sympathetic and offering strategic guidance – how brokers are managing clients in lockdown
In the latest episode of Insurance Post and Insurance Age’s new series of video casts brought to you while our journalists are in isolation lockdown we discuss how brokers maintain their ‘trusted adviser’ status during these difficult time.
Broker featured on FSCS insolvency list
A.J. Cook Insurance Brokers has been declared in default by the scheme.
FCA zones in on client money amid Covid-19
The FCA has asked up to 300 firms to provide financial information on client money, staff furlough, debt and cash.
FCA Schwarzenegger PPI campaign reaches 32m
Watchdog says the two year project led to 6.2m visiting its dedicated PPI website.