Regulation
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%.
FCA bans Oldbury broker
Abdul Razzaq prohibited from working in financial services industry.
IBSC consults on FCA's conflict review
Council gets to grips with what brokers are doing around conflict issues as it publishes first discussion paper.
FCA launches social media consultation
Watchdog to examine financial promotions on digital platforms.
Broker QT: Olympian Edwards says disclosure lessons could be learnt from IFAs
Olympic triple jump gold medalist Jonathan Edwards is the latest big name to weigh into the transparency debate, admitting that on the surface his broker appears less professional than his IFA.
FCA creates new general insurance director role
Regulator has increased senior management to help with "increasingly demanding agendas".
FCA will continue remedy work on add-ons
Regulator has finalised findings on market study.