Regulation
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.
Biba welcomes cancellation of client money review
Decision on CASS 5 means rules for brokers around client money will remain the same.
Biba attacks FCA renewal warning
Association criticises the suggested FCA renewal wording, warning it is price focused and hits out at sheer number of new regulations to implement.
FCA gives 1 April deadline for renewal transparency
New rules for personal lines make disclosure of last year’s premium compulsory at renewal.
FCA considers deadline on PPI complaints
Regulator to consult on feedback from previous consultation.
What is a principal firm?
Howard Pepper insists brokers should not be tarred with the FCA’s brush following the FCA publication of the thematic review into appointed representatives?
FCA warns principals they will be accountable for ARs’ mistakes
Regulator informs firms of its expectations after its thematic review into supervision of appointed representatives revealed "significant shortcomings".
MPs call for FCA to break up
MPs say regulator is "outdated and unfair" and merits re-examination.
FCA slams oversight of appointed representatives
Regulator finds “significant shortcomings” and orders two companies to stop sales activity.
“Collateral lies” acceptable in claims rules court
Supreme Court decides that “collateral lies” should not invalidate a claim.
No “bonfire of regulation” post Brexit, says FCA chief
Andrew Bailey said he does not foresee a “great bonfire of regulation” as watchdog sets up department to deal with EU exit.
Industry divided over commission disclosure
Brokers call for “ultra-transparency” as ABI questions current market approaches
The broker agenda
Biba’s Steve White explains that with constant big changes for brokers the trade body is already planning for 2017
Expertise from A-Z: Taking stock of the year so far
Six months into 2016, what have been the highs and lows for the insurance industry – and what does the rest of the year have in store?
Keep the faith
With ‘utmost good faith’ on the way out, Tony Cornell argues that it could be a case of brokers beware as they have to pay the costs of the Insurance Act