Regulation
FCA admits "mistake" after it accidentally shared private complainant data
The names, addresses, and telephone numbers of certain FCA complainants were publicly available between November 2019 and February 2020.
FCA removes Triton Insurance Brokers' right to conduct regulated business
Customers told to check the validity of their policy with their insurer.
Insurance Age Podcast: 21 February 2020
The Insurance Age team talk about the top stories for the week.
FCA sounds alarm over Brexit, misconduct, and data usage
The regulator examined several areas of potential harm in its annual review of the general insurance sector.
FCA warns of temporary permissions deadline as Brexit looms
There will be no change to EEA firms 'passporting' into the UK from tomorrow (31 January), but the temporary permissions regime will be used if the UK and EU fail to sign an agreement by 31 December 2020.
News analysis: Why do brokers need to care about the FCA focus on D&I?
A recent letter from the regulator could indicate that it wants to widen its remit to include diversity and inclusion. Should brokers be worried? Martin Friel reports.
Aviva denies privacy failure after mailing error
The insurer contacted thousands of customers mistakenly calling them ‘Michael’ - reports.
Blog: How does the SM&CR approach misconduct?
Nick Wilcox and Rolleen McDonnell of law firm BDBF examine where brokers may fall foul of the latest regulation to hit intermediaries.
Gibraltar regulator sheds 22 staff in cost-cutting drive
The GFSC has also restructured its management team to be “flatter, wider and more inclusive”.
FCA appoints interim CEO
Current incumbent Andrew Bailey joins the Bank of England as governor on 16 March.
The Blog Spot: Breaking barriers to insurance
As Biba focuses on improving access to insurance in its manifesto, commissioning editor Laurence Eastham considers where changes will occur in 2020.
Biba focuses on access to insurance in 2020 manifesto
Manifesto includes 37 commitments and 29 calls for action across nine key areas including regulation, broking challenges, Brexit, and transport.
CMA urges regulators to put "strong remedies" in place to end loyalty penalty
Government body welcomes the FCA's proposition to ban dual pricing as it publishes update a year on from the Citizens Advice super-complaint.
By Miles receives FCA ‘open banking’ licence
InsurTech will be able to access the financial data of consenting customers.
FSCS levy hike reignites call for separate broker pot
Expected broker levy rose to £23m for 2020/21 after spike in PPI complaints.
FSCS hikes broker levy up by £11m for 2020/21
Organisation says indicative levy for general insurance distribution is £23m and publishes Plan and Budget for the next financial year as total levy goes up by £87m.
Gefion ordered not to expand its scope of business
The Danish regulator says the unrated provider has “serious liquidity problems” as Gefion says it is in progressed discussions with potential capacity providers.
Former FCA insider develops compliance platform for brokers
Industry veteran Michael Sicsic partners with Governor Software to help brokers and insurers digitalise key compliance processes in a changing regulatory environment.
Danish regulator orders Gefion to correct information
Gefion has disagreed with the decision, as the regulator points to issues with one of the provider's reinsurance contracts.
Strategy reform reveals FCA data drive
The watchdog wants to use automation to deepen understanding of markets but has been warned against developing an over-simplified view of the market.
FCA warns insurance managers to tackle misconduct
Not addressing non-financial misconduct may lead managers to fail the SM&CR.
Gefion meets €5m liquidity deadline
The Danish provider has complied with the order from a regulator to have liquid assets of at least €5m by the end of 2019, after further investment from shareholders.
Blog: Is insurance picking up the bill for outdated building regulations?
Alison Whittington, head of housing at Zurich, discusses the hazards of modern properties and how insurers are getting involved.
Whistleblowing failures prompt regulatory intervention at Lloyd’s
PRA has laid down new rules after the Society of Lloyd’s disclosed that it had not maintained an anonymous whistleblowing channel for 16 months.