Regulation
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.
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.