Regulation
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.
InsurTech Futures: Five insurance companies in FCA's second innovation sandbox cohort
Twenty four firms selected by the regulator.
FCA says intermediaries earned £15.9bn in 2016
Data from the regulator shows 5% increase in revenue since 2015 with commission the main source of income.
Blog: Comply with GDPR or risk a £17.5m fine
It’s one year until GDPR data regulations are fully in force. Data expert Steve Sands of Synectics Solutions explains what this means for brokers and urges them to act now.
Firms received 3.04m complaints in second half of 2016, says FCA
Regulator states PPI is still most complained about product.
FCA reveals budget increase for 2017/18
Regulator's total annual funding requirement up 1.5% to £526.9m.
LMA calls for rethink on Vnuk
The organisation responded to a government consultation on motor insurance.
Secret FCA warnings issued to brokers revealed
The regulator confirmed that 18 senior broking executives received private warnings between 2011 and 2017 compared to one insurer boss.
FCA finds poor practices and warns on broker fee disclosure
Regulator says research shows some motor brokers and insurers fail to clearly disclose fees and how they were calculated.
FCA warns of fake emails that appear to use its address
Regulator urges recipients to delete emails without opening them.
News analysis: Brokers urged to check FCA warnings
Regulator’s list of unauthorised firms is “useful and accessible” for brokers, says compliance expert
FCA reveals IDD plans
Regulator is now consulting on how to implement the Insurance Distribution Directive.
FCA: PPI deadline set for August 2019
Watchdog to launch a two-year campaign to encourage customers to decide if they should act about PPI before the deadline.
News analysis: Insurers gear up for discount rate change
Fears raised that premiums will rise and consumer churn may increase
CDL confirms it’s on track to deliver automated solution for FCA prescribed wording
Implementing updates for regulatory changes is a “well-trodden” path says commercial director.
FCA issues warning over Halifax and Penn
Regulator says the Yorkshire-based travel, car, life and home insurance provider is “unauthorised”.
News analysis: FCA consultation continues as FSCS hits brokers with levy hike
Industry reels as regulator weighs up options for funding compensation scheme