Regulation
Opinion: Mike Cranny on regulation
Uncertain times: Parliament and the regulator have been busy recently, but the best best way to cope with the uncertainty is “business as usual”, says Mike Cranny
Ombudsman investigates 4,683 CMC complaints
The Legal Ombudsman is marking two years of dealing with claims management companies.
News analysis: Brokers back Biba at manifesto launch
Members and wider market broadly welcome trade body’s manifesto priorities for 2017
FSCS pays £26m to Enterprise customers
The body revealed payments had been made through brokers and directly following the liquidator cancelling Enterprise policies.
Blog: Enterprise Act - brokers need to be aware of the change to their responsibilities
Healys' Jerome O'Sullivan raises issues for brokers to consider around insurers contracting out.
FCA issues warning on spoofed email
Regulator urges recipients to delete the email sent on Friday without opening it.
Brokers could face 63% hike in FSCS levy under new proposals
Regulator sets out three options for changing the FSCS funding classes.
Higher FSCS levy for brokers using unrated insurers – FCA investigation
Question raised in regulator’s consultation on FSCS rules and funding.
FCA consults on FSCS rules and funding
Consultation to close in March 2017 with proposals and further consultation to be published the following autumn.
News analysis: IPT hike – industry fears further rise
As IPT is raised to 12%, many commentators wonder if a VAT-matched rate of 20% is on the cards
FCA delays PPI feedback until next year
Watchdog pushes deadline into first quarter of 2017.
Lib Dem leader calls for IPT rethink
Tim Farron has called on the government to review its decision to increase insurance premium tax to 12%.
FCA spends £272,800 on insurance
The regulator bought its cover via insurance broker Aon for 2016/17.
FCA reveals list of firms in innovation ‘sandbox’
One insurance organisation is part of the FCA scheme which is designed to support innovators navigate the regulatory system.
ABI calls for IPT freeze in Autumn Statement
ABI warned that any further IPT hike could result in some people reducing or dropping their insurance cover completely.
FCA to consult on “Mission”
Regulator launches consultation to design guiding set of principles.
UK General ordered to review AR arrangements
It is believed that the insurer has stopped its appointed representatives (ARs) from selling general insurance products.
Government to investigate Solvency II
Treasury Committee sets terms for Solvency II inquiry as government says Brexit could be a chance for UK to assume greater control of insurance regulation.
Software houses welcome idea of regulation
Transactor's Ray Vincent calls for tech providers to be regulated by the FCA.
Editor's letter - September 2016
“Brokers need to avoid being complacent and must continue to focus on the crucial area of client money compliance”
AR review slams “significant shortcomings”
Brokers react to FCA’s findings that oversight of appointed representatives is not up to scratch
End to uncertainty over client money
Regulator cancels its review of client money rules, but brokers warned not to be complacent
Renewal rules add to burden on brokers
Change will be introduced as the market adjusts to Insurance Act and IPT increase
Enterprise: FSCS says “first obligation to meet live claims”
Regulator says it is looking at a number of options in relation to the collapsed Gibraltar insurer Enterprise.