Regulation
Insurance to pay majority of £221m FSCS levy
The Financial Services Compensation Scheme (FSCS) has estimated the levy on financial services firms for 2012/13 will be £221m, up from £217m in April 2011.
FSA seeks £578.4m from financial services in final year
The Financial Services Authority (FSA) has requested £578.4m in funding for 2012/13, a 15.6% increase on this year.
APPG calls for more guidance on EU gender ban
Concerns over the implementation of the gender ban in insurance pricing have been raised by the All Party Parliamentary Group (APPG) on Insurance and Financial Services at a recent meeting.
Lessons to learn from FSA
That broker favourite, the Financial Services Authority (FSA), has taken a bit of a pasting from the Treasury Select Committee which described the soon to depart regulator as too expensive, aloof, bureaucratic and unable to protect customers.
Straw vows to continue pushing on motor insurance premiums
Transport Select Committee calls for multi-government department approach
The truth about redundancy
Is making redundancies always the best option for coping with financial pressure? Peter Done explores the problems and alternatives
Protecting clients’ assets
The industry needs to get up-to-speed over new rules governing client assets, explains David Roberts
Laspo bill delayed until April 2013
The Jackson reforms will not be implemented until April 2013, the government has announced.
AA warns homes may become uninsurable against flood risk
AA Insurance has called on the government to take “decisive action” before homes in flood-prone areas of the UK become uninsurable.
Sants claims he was talked into taking top job
Hector Sants, chief executive of the Financial Services Authority (FSA), claims he was talked into taking the job and that he would never let the former management of RBS work in finance again.
FSCS spent nearly £400m on management expenses last year
The Financial Services Compensation Scheme (FSCS) spent nearly £400m on management expenses in the 2010/11 year as it took in nearly £1bn in levies and paid out over £535m in compensation.
FCA chief vows to end laid back regulation
The Financial Conduct Authority (FCA) needs to make better, bolder, faster decisions and will not lie back and let financial markets run themselves.
Zurich wins Chartered Insurer status
Zurich has been granted Chartered Insurer status by the Chartered Insurance Institute (CII).
Ex-Groupama claims chief appointed as IFB director
Phil Bird has been appointed full-time director of the Insurance Fraud Bureau (IFB) on a six month secondment.
Jack Straw to "push on" with motor reform
Jack Straw has vowed to fight on in his bid to reform the UK motor insurance market despite his Motor Insurance Regulation Bill hitting the wall.
Jubilee calls for clarification on PPI
Jubilee has called upon government and regulator to address the uncertainty surrounding regulation of payment protection insurance (PPI) in order to let the industry grow.
RBSI firms fined £2.17m over complaints tampering
Direct Line and Churchill have been hit with a £2.17m fine by the Financial Services Authority (FSA).
Jack Straw warns of regulatory threat facing motor insurers
Jack Straw has called on the industry, particularly insurers, to do much more to reform the private motor market or face further government intervention.
PPI complaints soar by 57%
The Financial Ombudsman Services (FOS) has revealed that the number of payment protection insurance (PPI) cases it received increased to 30,301 in the final three months of 2011.
Biba welcomes Treasury FCA report
The British Insurance Brokers’ Association (Biba) has welcomed the Treasury Select Committee’s report on the Financial Conduct Authority (FCA).
Ireland's Injuries Board sets good example
The UK should look to Ireland for a lesson on tackling the problem of increasing insurance premiums, according to Catherine Barton, partner in the insurance team at Ernst & Young.
Treasury aims to tackle aloof nature and expense of regulator
The Financial Services Authority (FSA) is too expensive, aloof and bureaucratic and does not protect consumers from regulatory failure.
Biba commits to regulatory focus for 2012
The British Insurance Brokers’ Association (Biba) has revealed that its main focus for 2012 will be achieving appropriate, proportionate and cost effective regulation for its members.
Industry laments lack of referral fee bite in TSC report
The Transport Select Committee’s follow up report into the cost of motor insurance has been widely welcomed by the insurance industry but there is frustration that proposed measures to tackle referral fees do not go far enough.