Regulation
CMA to investigate aggregator over “strong concerns” on insurer relationships
However, investigation did not find “harmful hollowing out” of products because of an undue focus on price.
Aviva "disappointed" after watchdog bans Aviva Drive app ad
The Advertising Standard's Authority stated that the ad featuring ex-Formula One driver David Coulthard promotes irresponsible driving.
Channel 4 cyber expert, Peter Blanc and Steve White confirmed for broker question time event
Attend Broker Morning Matters on 5 October for the inside track from experts on cyber, the gender pay gap and its insurance implications and the potential for disruption as insurtech grows.
Broking Break - Your Top 5
Insurance complaints, Ogden and acquisitions all hit the headlines and made up your top five stories this week.
The Blog Spot: It’s right to raise awareness ahead of PPI termination date
Arnold Schwarzenegger is being paid a lot to warn people that the deadline for claiming PPI is fast approaching and Siân Barton agrees awareness should be raised.
Arnold Schwarzenegger to front FCA's ad campaign on PPI deadline
The Terminator actor will urge people to make a decision about filing a PPI complaint.
The Blog Spot: #20Now – Is it time for a campaign to raise IPT?
But it should come with a rather huge caveat.
Biba tells brokers not to panic about the senior management regime
Head of compliance and training David Sparkes says brokers who are compliant with current rules won't see many difficult changes.
FCA proposes to extend the senior management regime to more firms
Under the proposals almost all regulated firms, including brokers, will have to comply with the senior management and certification regime.
Moneysupermarket.com fined £80,000 by Information Commissioner’s Office
The aggregator sent 7.1m emails to customers who had opted out of receiving marketing correspondence via the web.
FCA publishes IDD plans
Regulator continues its consultation on how to implement the Insurance Distribution Directive.
Gable policyholders receive £8.3m return payments
The FSCS has given 28,000 return of premium payments to former policyholders of Gable Insurance.
Firms' Brexit contingency plans may lead to difficulties, says FCA
CEO Andrew Bailey states firms making plans before knowing the outcome of Brexit negotiations may find themselves in a difficult situation.
N Brown faces £40m bill after insurance product flaw
Fashion brand says this follows review prompted by the FCA's crackdown on add-ons.
Aon and Marsh offices in Ireland raided in competition investigation
The two brokers were visited by the European Commission which is investigating breaches of EU competition rules.
Broking Break: Your top five of the week
A Gumball blog, solvency figures, new software, warnings for brokers and an insurer closing were voted the top five stories by brokers’ clicks over the week.
News analysis: FCA sends warning on renewal rules
The industry reacts after the regulator clamped down on Admiral over renewal wordings
FCA in the cold on European Brexit talks
Chief Andrew Bailey confirms that the regulator is not involved in all regulatory discussions on the UK’s EU exit.
Leaving the EU without a deal not acceptable, warns ABI
Trade association says that if no Brexit deal is in place insurers may not be able to continue to meet the needs of millions customers and remain legally compliant.
Insurance Cares: FCA calls for “meaningful change” for vulnerable customers
Christopher Woolard calls on sector to work together to help customers with pre-existing medical conditions gain access to insurance.
The consultation on PPI cost the FCA over £473,000
Regulator notes that £3.2m of the £42.2m consumer communications campaign budget has been spent so far.
FCA probes travel insurance cover for cancer patients
The watchdog is seeking views from firms and looking for the reasons behind pricing differences.
FCA chair John Griffith-Jones to leave in March 2018
Government starts process of looking for a replacement.
FCA orders Admiral to contact customers after renewal handling failures
Insurer agrees with the regulator to contact all affected customers, following change in renewal rules from 1 April.