Regulation
Biba warns that HMRC's IPT consultation may have "detrimental impact" on brokers
Trade body calls for input from members as it gears up to respond to the government.
CII launches new code of ethics
The digital code of ethics is the latest modernisation measure at the body.
Danish watchdog orders Gefion to recalculate solvency level
Regulator says the unrated Danish provider has a solvency ratio of 105% after assessment.
FCA warns of UK General clone
Fraudsters have been trying to trick consumers by using UK General's name.
Zurich's Tulsi Naidu to chair the FCA Practitioner Panel
She will take on the post on 1 August.
Dual pricing: Capping prices risks industry profits, warns Fitch
The CMA had recommended price caps, as regulators propose solutions to the 'loyalty penalty', but the ratings agency suggests it could destabilise the market.
Regulator sharpens focus on Lloyd's amid sexual harassment claims
Following the warning Lloyd's has revealed advisory committees designed to tackle diversity and inclusion featuring sector leaders such as Zurich's, Amanda Blanc, and the CII's, Sian Fisher, have been set up.
FCA strengthens position on dual pricing
The regulator has published a fresh response to the CMA.
Government revives further regulation of aggregators
The government referenced a 2017 study into digital comparison tools by the CMA.
Insurers could face fines for £4bn dual pricing "rip off"
The government is set to give the Competition & Markets Authority power to bypass the courts and fine firms that exploit loyalty.
Brokers call on HMRC to reform IPT
Broker boss wants IPT to become VAT as the industry responds to HMRC's consultation into how the IPT operates.
FCA warns of clone broker
Wentworth Insurance Brokers has been cloned by fraudsters.
Podcast: The top five stories of the week
The Insurance Age team examine the most read stories for the week commencing 3 June 2019.
Internal audit good practice guide launched for brokers
The Society of Insurance Broking has developed the guide which outlines regulatory rules.
Brexit: FCA confirms extension of the Temporary Permissions Regime deadline
The deadline has been revised after originally being set for 28 March 2019.
Brokers warned over admin fees and commission
DAC Beachcroft said analysis of FCA studies found that firms do not have sufficient focus on customers.
Three insurance firms on FSCS insolvency list
List includes payment protection specialist British Insurance which was bought by Towergate in 2008, but stopped trading in 2011.
FSCS confirms final levy for 2019/20 at £532m
The amount is £16m more than the organisation forecast it would be back in January and relates partly to “continuing costs in some historic insurance failures”.
Gefion ordered to publish supplementary corrective accounts
The Danish regulator has told Gefion to restate its 2017 results and half-year report for 2018 but Gefion insists the business is healthy.
Research shows 50% of motorists think dual pricing should be illegal
A survey by Go Compare show half of the drivers surveyed felt it should be illegal for insurers to reserve best prices for new customers.
FCA re-examines duty of care as report warns customers at risk of harm
The regulator published a feedback statement which revealed most respondents believe there needs to be change to better protect financial services customers.
FCA data reveals fall in complaints in second half of 2018
Regulator says total amount of complaints about financial services reached 3.91m, with PPI making up 40%.
Brexit and customer fairness dominate FCA 2019/20 plans
The regulator’s Business Plan revealed a focus on “fair treatment for existing customers” amid dual pricing investigation and warned orderly transition post-Brexit is an “immediate priority”.
Experts urge brokers to look over remuneration after FCA warning on GI distribution failings
Compliance specialists say brokers need to look at the distribution chain and make sure they act in the best interest of the customer.