Regulation
FCA unveils extension of the SM&CR
Changes made to the regime will be implemented on 9 December 2019, the same date that brokers will start to have to comply with the rules by.
Red Sands scoops up failed insurer Lamp’s home policies
Now4Cover has moved the customers to Gibraltar-based provider Red Sands.
FCA extends use of temporary transitional powers until the end of 2020
Move reflects the extension of Article 50 and guidance remains the same despite the timeline change.
Personal Finance Society responds to FCA vulnerability study
Insurance Cares: CEO Keith Richards reminds the market that understanding vulnerability is a long learning process.
ABI hopes Boris Johnson will focus on regulation as PM
Director general of the ABI, Huw Evans hopes that Johnson will implement an orderly Brexit and aid the industry by “improving the competitiveness of our tax and regulatory environment.”
Ex-Ardonagh deputy CEO Janice Deakin: "I need a break from big deals"
Former Ardonagh deputy CEO Janice Deakin has stepped back at the consolidator and vowed that she needs a ‘break’ from big deals having worked on the acquisition of Swinton, but added the idea of acting as a non-executive director at another firm…
FCA pledges tough action for vulnerable customers amid consultation launch
Insurance Cares: Watchdog says it will implement measures to ensure consumers are treated fairly.
The Insurance Age Podcast: 19 July 2019
The Insurance Age editorial team dig into this week's top stories.
FSCS agrees Alpha replacement cover deal
Collapsed Danish insurer's latent defect policyholders will now be covered by a new, solvent insurer.
Fact file: What’s the story with the Ogden Rate?
The much-debated discount rate was reset at -0.25% this week, but how did we get to this point and what is the background to this highly explosive issue? Insurance Age outlines the key touchstones
FCA warns of Moneysupermarket clone
The aggregator is the latest firm to be targeted by fraudsters.
Hastings expects £8.4m hit from Ogden rate change
Company says it had believed the rate would end up between 0 and 1%, as Biba states move to -0.25% is "nowhere near enough".
Documents reveal government actuary recommended a 0.25% discount rate
The Lord Chancellor and Justice Secretary, David Gauke, eventually settled on a minus 0.25% Ogden rate.
Insurance Cares: FCA consults on travel cover for people with medical issues
Consultation includes proposals to signpost details of travel insurance firms who can cover consumers with more serious conditions.
CRL close to finding replacement for Alpha policies
Broker has had its deadline extended several times, but FSCS says "good progress" has been made in recent days.
Government reveals recalculated Ogden rate
The increase is not as generous as many had expected.
Government urges regulators to work together to help vulnerable customers
Report slams the loyalty penalty among other issues to be tackled in the financial services, water, energy and telecoms sectors.
FCA issues fresh clone broker warning
Fraudsters are using the details of Alternative Insurance Brokers to trick consumers.
FSCS says top 110 firms will pay a £3m levy in 2019/20
Scheme publishes forecasts for the 2019/20 levies, with over half of companies paying less than £50.
FCA pay gaps persist despite bumper 2018/19
The regulator made a £25.4m surplus but struggled to appropriately remunerate female and ethnic minority employees.
Opinion: Mayer Brown's Chris Chapman on regulation and the FCA
Don’t get caught out: The insurance industry needs to keep an eye on the FCA’s ongoing initiatives, writes Chris Chapman
Biba warns that HMRC's IPT consultation may have "detrimental impact" on brokers
Trade body calls for input from members as it gears up to respond to the government.
CII launches new code of ethics
The digital code of ethics is the latest modernisation measure at the body.
Danish watchdog orders Gefion to recalculate solvency level
Regulator says the unrated Danish provider has a solvency ratio of 105% after assessment.