Regulation
CPP insurance mis-selling cost could hit £1.3bn, says FCA
The Financial Conduct Authority (FCA) has reached an agreement with Card Protection Plan (CPP) and 13 high street banks and credit card issuers on the process for repaying customers who were mis-sold CPP’s Card Protection and Identity Protection policies.
Biba questions new government flood agreement
The British Insurance Brokers’ Association (Biba) has responded to the Department for Environment, Food and Rural Affairs' (Defra) flood insurance consultation with concerns over a lack of cover being available for small businesses and some UK…
Time to look in the mirror
It has long been argued by the insurance industry that the public's perception of the sector has been damaged by the actions of bankers, that insurers have been unfairly tarnished by the same financial services brush.
FCA issues Axa clone warning
The Financial Conduct Authority (FCA) has issued a warning about Axa clone, Axa Isle of Man.
Private investigator in Lloyd's of London blue-chip hacking claim
A private investigator who was jailed last year for his role in the blue-chip hacking storm has claimed that insurers at Lloyd's of London were among his clients, it has been reported.
Editor’s letter - August 2013
“Here’s a wild and wacky suggestion, how about treating customers fairly not mis-selling add-on policies?”
Events roundup: Brokers learn the Three Rs at regulation event
FCA reveals plans for review into conflicts of interest at inaugural Three Rs regulation event, brokers find out about the latest technological advances at e-broking 2013 and getting ready for Broker Expo South and the UK Broker Awards
Swinton fined over add-on sales after FCA probe
Regulator hands broker £7.4m fine because of aggressive sales strategy
Insurance companies implicated in use of rogue private investigators
Ten insurance companies have been implicated in the use of the “rogue element of the private investigation industry”, according to a report from the Serious Organised Crime Agency (Soca).
Brokers riled by consumer credit licence interim charge
Controversy has engulfed newly-announced consumer credit licence (CCL) charges which could see brokers stung twice for fee payments.
FCA warns firms to take anti-money laundering responsibilities seriously
The Financial Conduct Authority (FCA) has published its first annual report on anti-money laundering (AML).
Which? warns consumers of "punishing" insurer charges
Consumer watchdog Which? has issued a warning to consumers over additional fees involved in renewing their car insurance policies.
Swinton apologises to customers after £7.4m FCA fine
Swinton Group has offered an unreserved apology to its customers, following the news that it has been fined £7.4m by the Financial Conduct Authority (FCA).
FSA report details over £500,000 pay-off for Turner and Sants
The final annual report from the Financial Services Authority (FSA) has detailed that chairman Adair Turner received £252,000 when his contract ended while executive director Hector Sants received £300,178.
FSA expenditure under budget in its final year
The Financial Services Authority (FSA) expenditure for the year ended 31 March 2013 came in slightly under budget.
FCA chief to reflect on first 100 days
Martin Wheatley, chief executive of the Financial Conduct Authority (FCA), will tell the Association of British Insurers' (ABI) conference that the FCA is “a very different animal to the Financial Services Authority (FSA)”.
FCA hits intermediary with £2.8m mobile phone insurance fine
The Financial Conduct Authority (FCA) has fined Policy Administration Services (PAS) £2,834,700 for poor complaints handling of mobile phone insurance policies.
Biba CEO: Brokers should not fear FCA conflict of interest review
British Insurance Brokers' Association (Biba) CEO Steve White has insisted that brokers who have adopted previous conflict of interest guidance "have nothing to be worried about" by the regulator's review.
FCA reveals conflict of interest review at 3R's event
A thematic review into broker conflicts of interest will be launched by the Financial Conduct Authority (FCA), it was today revealed by the regulator at Insurance Age's 3R's event.
FCA warns over too complex MLEI
Regulator tells the industry to review marketing of motor legal expenses insurance
FCA's £150,000 fine and ban for "reckless" broker upheld
The Financial Conduct Authority's (FCA) ban and £150,000 fine for "reckless" insurance broker director Andrew Jeffery has been upheld.
FCA review reveals poor practice in mobile phone insurance
The Financial Conduct Authority (FCA) has listed poor product design, unclear terms, and inadequate claims and complaints handling among the findings of its review into mobile phone insurance.
Clock is ticking for motor legal market
So the countdown has begun for the motor legal expenses insurance (MLEI) market.
Insurance trade bodies welcome FCA motor legal expenses review
Both the British Insurance Brokers’ Association (Biba) and the Association of British Insurers (ABI) have welcomed the regulator’s review into Motor Legal Expenses Insurance (MLEI).