Regulation
Market moves: The moves merry-go-round
The insurance recruitment gene pool has long required dilution but it still seems to be the same names popping up going to new jobs at new companies. Which wouldn’t be so bad if so many of them didn’t end up going back to the company they originally left…
Sentiment Survey Spring 2012
The latest Sentiment Survey covers market hardening expectations, increasing broker engagement with social media and the priorities for Biba, all according to brokers
Referral fee ban lacks definition and will "damage access to justice"
The LASPO Bill represents “a litany of missed opportunities for the personal injury system” according to John Spencer, director of Spencers Solicitors.
Campaign to cut claims management companies out of PPI
Consumer groups, the regulator, banks and credit card providers are to come together to cut claims management companies (CMCs) out of the payment protection insurance (PPI) compensation process.
Homeserve fined £750,000 over abandoned calls
Homeserve has been fined £750,000 by Ofcom for making an excessive number of silent and abandoned calls to UK consumers.
Almost 20% of CMCs closed by MoJ last year
The Ministry of Justice (MoJ) closed down around one in five claims management companies in the past year, according to figures obtained by the Law Society Gazette.
Which? accuses insurers of taking consumers for a ride
Consumer watchdog Which? has accused several insurers of charging customers exorbitant hidden fees for basic policy changes and renewals.
Regulation moving too fast for financial services
Regulatory developments are coming too fast to allow financial services companies to react effectively according to a report from regulatory analysts, JWG.
Editor’s letter - April 2012
“It’s fair to say that old Hector didn’t have the easiest of rides”
FSA warns brokers over mis-selling of add-ons
Regulator claims customers may have been sold add-ons and extras they neither want nor need
Sants departure gets mixed reaction
Hector Sants has announced his intention to leave the Financial Services Authority (FSA) for the second time, and this time it looks like it is actually going to happen.
Market moves: Ready for regime change
It was all about big names and big moves last month. The Financial Services Authority (FSA) lost two big players as it approaches the end of its reign as regulator.
Uncovering fraud
Everyone in the insurance industry is in the frontline in the fight against fraud, explains Simon Arundel
General insurance tops regulator's complaints table
General insurance is the most complained about financial service according to the latest complaints data published by the Financial Services Authority (FSA).
Claims management companies come under political scrutiny
The Ministry of Justice has launched an investigation into claims management companies following complaints that they are blocking up the compensation system for mis-sold payment protection insurance (PPI).
FSA vows to maintain intensive supervision in final year
The Financial Services Authority (FSA) has vowed to maintain its policy of intensive supervision and will continue to implement European regulatory directives as it releases its final business plan before it is disbanded.
Hector Sants - an appraisal
So Hector Sants is off. The man who ran the FSA during its most turbulent period is heading off into the regulatory sunset.
Hector Sants resigns as FSA chief
Hector Sants will step down as CEO of the Financial Services Authority (FSA) at the end of June 2012.
FSA warns of customer detriment in UK general insurance
The Financial Services Authority (FSA) has identified what it sees as three main risks of consumer detriment in the general insurance market and warned that it will not allow a repeat of the payment protection insurance mis-selling scandal.
Ratings agencies accept no blame for financial losses
Standard & Poor’s (S&P) head of financial services ratings has told the Treasury Select Committee (TSC) that people shouldn’t rely on their ratings when making financial decisions.
FSA issues PPI redress guidance
The regulator has published proposed guidance for firms contacting customers who they may have mis-sold payment protection insurance (PPI) to but have not yet complained.
FSA on tour
The FSA is touring the regions to ensure regulated firms are up-to-speed with governance and risk awareness, explains Barry Woodward
Market moves: Mad for it
Last month things went a bit mad in Manchester, with two insurers and an MGA creating brand new teams in the city. There were numerous other appointments across the insurance spectrum, and what most of them had in common was the city that gave us Oasis.
FOS reveals PPI complaints halved in H2 2011
The Financial Ombudsman Service (FOS) received a total of 106,193 complaints between 1 July and 31 December 2011, and figures show that Barclays Bank was by far the biggest culprit in terms of payment protection insurance (PPI) complaints.