Regulation
FCA proposes to ban opt-out selling
Regulator to abolish opt-out selling following study into the general insurance add-ons industry.
No claims bonus deadline extended
Biba welcomes CMA decision to extend deadline for protected no claims bonus information to August 2016.
CMA opts to ban all motor aggregator deals
Regulator decides that price parity agreements between insurers and brokers and price comparison sites should be banned across the board.
Polishing the profession
One year after forming, the Insurance Brokers’ Standards Council is still working to combat poor broking behaviour, says Paul Anscombe
Directors’ and Officers’: We need to talk
SMEs need to be informed of the benefits of directors' and officers' insurance and that conversation must be initiated by brokers
FCA takes firm stance on NED accountability
Roles of chairman, senior independent director and chairs of risk, audit, remuneration and nominations committees to come under new Senior Managers Regime.
Experts advise brokers to prepare for the Insurance Act
The Act has received Royal Assent and will become law in autumn 2016.
Insurance Bill passed unanimously by MPs
The bill now awaits Royal Assent to become law.
Industry welcomes forthcoming Insurance Bill
Legal update to 1906 legislation to cover disclosure, warranties and remedies for fraudulent claims
Brokers back FCA promise to work with Biba on regulation
FCA pledges to “work constructively” with Biba as trade body launches 2015 manifesto
FCA to reassess PPI complaints
Regulator to examine if current approach to PPI is working.
FCA consults on FSCS management levy
FCA proposes management costs of £74.4m for Financial Services Compensation Scheme.
The CMA publishes draft order after motor market report
The draft order includes compliance requirements for insurers and aggregators.
Ombudsman freezes levy
Regulator reveals plans for 2015 and fees for FCA-regulated businesses.
Insurance still getting to grips with the sharing economy
Complex risks such as car sharing or swapping homes for a holiday complicate the collaborative economy
FCA warns brokers over financial crime risk management
Biba to consult with regulator to assess what can be done to improve risk management at small firms
PPI complaints fall 50% on last year
PPI still gets most complaints despite drop, but car and motor complaints rise 6%.
Webinar: Regulation – The 3Rs
Insurance Age tackles regulation in this bespoke on demand web seminar for brokers.
IBSC proposes new syllabus for the industry
Syllabus seeks to codify standards and duties and possibly lead to formal qualification.
Ofcom fines Ageas £10,000
Insurer hit in the pocket for making “abandoned calls”.
CMA ruling 'good news for brokers'
Market likely to be relieved referral fees to credit hire organisations remain untouched, but Biba says findings are “not enough”.
Mixed response to CMA report
Allianz “disappointed” by motor findings but AA “welcomes” the report into competition as ABI calls it “bad news for consumers”.
CMA publishes final report on motor market
Authority cracks down on aggregators, but cannot see remedy for problem of post-accident services costs.
PPI still leads on ombudsman complaints
Payment protection insurance makes up seven out of ten complaints to regulator as insurance cases rise 1%.