The administrator’s progress report said the business was later sold to One Sure for £75,000 as fitness of former directors is investigated as statutory measure.
Interim CEO Christopher Woolard sets out the regulator's expectations after the High Court handed down its judgment in the BI test case last week.
Broker trade body says it hopes the industry can move on following the High Court's decision yesterday and that any appeal will be “sorted out quickly” for the sake of policyholders.
Government body says Ardonagh and Bennetts have five working days to address the CMA’s concerns, after it found that the merged company would face “only little competition” from other much smaller motorcycle insurance specialists.
Disease and ‘hybrid’ wording policyholders are particularly well placed to seek compensation after the landmark High Court judgment today in the FCA's BI test case and those with prevention of access wordings may also find they have cover, law firm…
MD Simon Mabb, along with the Night Time Industries Association, says he is both “pleased and frustrated” at the ruling from the High Court, as he notes Hiscox claims have been deemed legitimate, but the QBE result is “still unclear”.
The High Court has ruled that the majority of businesses who held business interruption insurance and were forced to close could be entitled to be compensated by the insurers.
Body urges industry to work on product governance, improving advice processes and establishing an approach to pandemics.
Compliance specialists say brokers should make sure their procedures are in line with the expectations of the FCA.
In a Dear CEO letter, Roma Pearson, head of retail GI, calls on brokers to address their strategies and improve their governance and warns the watchdog will take action.
Recognising vulnerability: Putting vulnerable customer guidance into practice will give a boost to customer retention and help build a stronger brand, says Michael Sicsic
Regulator says fraudsters are giving out details of the authorised company as part of their tactics to scam people in the UK.
The temporary rules and guidance will now be in place until 31 October, while the FCA notes it is looking at making aspects of the measures permanent.
Ardonagh’s £26m purchase of the motorcycle specialist approved by the FCA, but the ongoing CMA inquiry looking at how the transaction impacts competition in the market continues.
The #justpayit campaign has highlighted that some providers are reducing BI payouts to businesses which have received government support grants.
Insurance Cares: The watchdog has called on financial services firms to do more to ensure vulnerable customers receive positive outcomes as it consults on guidance.
Providers argue regulator’s case doesn’t work because access to premises was not prevented during pandemic as lawyers for Hiscox, Ecclesiastical, MS Amlin, Arch Insurance and Zurich make their submissions.
News analysis: Experts question legality of Covid-19 exclusions in brokers' PI policies and warn of trouble with doubling of premiums, providers reducing capacity, as compliance specialists call on the FCA to make it clear whether Covid-19 exclusions are…
Jonathan Gaisman, QC, branded parts of the Financial Conduct Authority’s arguments as camouflage, a misuse of language and “blurring every divisible thing into one amorphous mass” as he defended Hiscox in the ongoing business interruption test court case.
The regulator wants the measures, which require firms to consider premium reductions and payment deferrals, to be extended to 31 October.
The regulator has published a consultation paper on amending its rules in the wake of coronavirus.
Defendants in the Financial Conduct Authority’s BI test case warn providers could be liable for losses they never agreed to cover.
The unrated provider recently went into solvent liquidation after the Danish regulator withdrew its insurance license.
The Financial Conduct Authority has alleged that insurers’ approach to causation in the business interruption test case is “legally flawed” and the defendants have “overlooked” contractual contexts.