Regulation
The state we’re in
If the UK is to avoid another economic crisis in the near future, insurers and the government need to join forces to tackle flood insurance, says Tony Cornell
Lloyds fined £4.3m for delayed PPI redress payments
Lloyds Banking Group (LBG) has been fined £4.3m for delayed payment protection insurance (PPI) redress payments.
MASS rounds on Aviva's motor claims proposals
Aviva's plan to remove the middleman from motor claims in a bid to slash premiums has only "identified parts of the problem" and failed to "come to the right solution".
FSA branded stationery spend increased in year of regulator change
The Financial Services Authority (FSA) spent more on branded stationery for the 2012/2013 period than in either of the two preceding years.
Yet another kick in brokers' FSCS teeth
As sure as night follows day, brokers' favourite regulatory cost is set to rise yet again.
ABI calls for greater political commitment to flooding plans
The Association of British Insurers (ABI) has called for cross-party political support to ensure that the UK can properly tackle flood risk.
Brokers' FSCS levy will climb to £58m
Brokers are likely to be slapped with another Financial Services Compensation Scheme (FSCS) levy hike, the body has confirmed.
Biba urges brokers to budget for £21m FSCS levy
The British Insurance Brokers' Association (Biba) has warned that there is "every likelihood" that an interim Financial Services Compensation Scheme (FSCS) levy will hit brokers in the coming months.
CMCs pocketed £7.4m from PPI claims in 2012
Claims management companies (CMC) made more than £7.4m from UK consumers claiming compensation for mis-sold payment protection insurance (PPI) in 2012.
Biba launches manifesto for 'year of change'
The British Insurance Brokers’ Association (Biba) has launched its 2013 manifesto entitled Meeting the Growth Challenge.
Time to Act
A seismic change to the way brokers operate is due in April, but the industry doesn’t appear to be ready, says Stephen Netherway
RWA chief blasts Biba's 'sweeping criticism' of insurers
Research from the British Insurance Brokers’ Association (Biba) which claimed insurers were becoming more difficult over paying out on claims has been deemed “spin” as opposed to “worthwhile research”.
FSA confirms BBA talks about potential PPI deadline
The Financial Services Authority (FSA) confirmed it has been approached by the British Bankers' Association (BBA) about a potential payment insurance (PPI) complaint deadline.
ABI at odds with Biba over FSCS funding model
The Association of British Insurers has broken ranks and labelled the Financial Services Authority's (FSA) Financial Services Compensation Scheme (FSCS) funding model "an unhelpful step backwards".
Biba gives "cautious welcome" to FSA proposals
The British Insurance Brokers' Association (Biba) has given a "cautious welcome" to the Financial Services Authority's (FSA) Financial Services Compensation Scheme (FSCS) funding model.
FSA consults on FSCS funding model
The Financial Services Authority (FSA) has confirmed new funding rules for the Financial Services Compensation Scheme (FSCS).
Teen ghost broker handed 12-month sentence
A teenager who tried to sell worthless vehicle insurance policies has been given a 12-month conditional discharge at City of London Magistrates.
FSA in talks with banks over PPI claims deadline
The Financial Services Authority (FSA) is reported to be in talks with the banking industry to set a deadline for customers being able to claim for mis-sold payment protection insurance (PPI).
Banned broker faces bankruptcy over £200,000 FSA fine
A South Wales-based insurance broker has been banned from working in the financial services industry and fined £212,237 by the Financial Services Authority (FSA).
Editor’s letter - January 2013
“Brokers need to be shouting louder about their role in the economy and the essential service they provide”
Perfect storm
Brokers face a volatile year of regulatory change
Banks' PPI costs could double to £25bn
Banks may be forced to pay £25bn in repayments for payment protection (PPI) mis-selling, according to The Times.
An honour to the profession
There comes a point over the festive period when the magic wears off. You’ve eaten too much turkey, ham and chocolate, seen a bit too much of certain family members, and Love Actually is on TV for the 243rd time.
Libor scandals drive record FSA fines of £312m
The Financial Services Authority (FSA) handed down a record-breaking £312m in fines in 2012.