Regulation
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
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.