Regulation
Bluefin fine – 32 FCA staff directly involved in investigation
One year on a Freedom of Information of request from Insurance Age reveals the timeline of events.
Customers brand “sneaky” dual pricing “exploitative”
78% called for a ban on insurance firms charging higher prices for renewals than new business.
Call for evidence on discount rate setting welcomed
The Lord Chancellor has asked for experts to contribute to a review of how the Ogden rate is set with a final decision predicted by May 2019 as the industry hopes it may settle around 1%.
The Blog Spot: Solving dual pricing with three figures
In an excellent piece in The Times last month was a reference to a suggestion – that renewal invitations should in fact have three prices on them.
Opinion: The FCA's Christopher Woolard on pricing
Paying the price: Customers shouldn’t lose out for being loyal, says Christopher Woolard
FCA updates approach to authorisation
Feedback statement follows on from consultation that closed in March.
CMA to step up its interest in vulnerable customers
Body still working on investigation following the super-complaint from Citizens Advice, which slammed dual pricing practices in insurance.
News analysis: FCA bares teeth on personal lines
Regulator launches motor and home study and releases findings of pricing probe
FCA calls for Brexit implementation period
Regulator says it prefers the draft withdrawal agreement over no-deal Brexit after impact assessment.
FCA reveals 138% increase in reported tech outages
Regulator highlights 18% are cyber-related.
FCA cancels broking firm's authorisation
Larksway Investments was stopped from providing insurance broking services in September 2017.
Biba repeats call that brokers should prepare for no deal Brexit
Steve White warns that passporting will end.
FCA prepares for no deal Brexit
The watchdog has published a set of proposals to prepare for the possibility of leaving the EU without an implementation period.
Industry welcomes passing of Civil Liability Bill ahead of Royal Assent
Biba chairman Lord Hunt of Wirral urges the government to avoid further delay in signing the bill into law.
Blog: Should brokers be concerned?
Ann Peel poses the question as more SMEs will be able to complain to the Ombudsman.
Podcast: The top five stories of the week
Roving reporter Jonathan Swift dials in for this week's episode.
The Blog Spot: Two sides to the perception gap
The frustration is that insurance has so much to be proud of.
Brexit deal does not work for brokers, says Biba
Trade body warns of “gaping hole” in the agreement.
Insurance experts warn on Brexit deal
ABI says insurance sector must not become a rule taker under future relationship with EU.
Aviva writing to customers after renewal transparency failing
FCA review led to insurer being “made aware” of problems.
FCA reveals final guidance on PPI complaints
Regulator consulting on new rules requiring firms to write to consumers who have made unsuccessful PPI claims, telling them to complain again.
ICO to fine Eldon Insurance £60,000
The Information Commissioner also issued a notice of intent to fine Leave.EU as part of the same action and is investigating allegations that Eldon shared customer data “obtained for insurance purposes” with Leave.EU.
Podcast: The top five stories of the week
The Insurance Age team discuss the top five stories from the past week featuring fines, the FCA, Ardonagh and Reich.
CMA accuses Compare the Market of breaking competition law
The CMA has provisionally found that the aggregator is preventing customers from getting better home deals through use of its ‘most favoured nation clauses’.