Regulation
See you in court?
The demise of no-win no-fee could leave many SMEs unable to pursue claims in court
UK plc disadvantaged by bribery crackdown
If the FSA pursues firms over bribery it could lead to UK companies losing business abroad
Pointing the finger
What exactly does the FSA do to warrant all the cash it takes from brokers and tax payers? Our anonymous columnist would love to find out
Fighting for justice
It is time for the insurance industry to show some courage and take a moral stand against referral fees, says Tony Cornell
Jersey will not implement Solvency II
Jersey’s Financial Service Commission has issued a statement clarifying that it does not intend to implement Solvency II.
Sean Quinn's Q2 has no licence in Malta
The Malta Financial Services Authority (MFSA) has dismissed reports that Sean Quinn has a Malta-based insurance licence for his new insurance company, Q2.
Beachcroft and Davies Arnold Cooper merge
Insurance law firms, Beachcroft and Davies Arnold Cooper (DAC), have confirmed that they will merge.
FSA hits Willis with record anti-bribery fine
The Financial Services Authority (FSA) has fined Willis £6.895m for failings in its anti-bribery and corruption systems and controls.
ABS deadline delayed
The 6 October deadline for licensing alternative business structures (ABS) has been delayed until 2012 Insurance Age’s sister title Post has revealed.
Law Society survey finds increase in PI renewal difficulties
The Law Society’s Professional Indemnity Insurance (PII) Survey: Renewals 2010 has found that more firms had difficulty renewing their PII in 2010 than in 2009 and more reported an increase in premiums.
Insurance Age blog: Where did the culture of compensation come from?
When Axa came out and sang from the roof tops about its decision to ban referral fees, it labelled the move "a first step in a journey to reform the emerging compensation culture which it claimed was spiralling out of control".
IIB calls for FSCS review after 900% levy increase
The Institute of Insurance Brokers (IIB) has presented research to the All Party Parliamentary Group on Insurance and Financial Services (APPGIFS) showing that brokers with an income of £500,000, £1m or £5m have seen their Financial Services Compensation…
Jonathan Swift elected co-ordinator of insurance’s APPG
At the annual general meeting of the All Party Parliamentary Group on Insurance and Financial Services (APPGIFS), Jonathan Swift, group editor-in-chief of Insurance Age and sister title Post, was elected as the APPGIFS’ co-ordinator.
UK insurance industry survives stress tests
The strength of the UK insurance industry has been underlined following the results of the second European insurance stress test, according to the Association of British Insurers (ABI).
Insurance Age video: Amii conference 2011
Liz McMahon interviews key delegates at the Association of Medical Insurance Intermediaries (Amii) 2011 conference.
Claims volume forces FSCS to exceed budget
The cost of running the Financial Services Compensation Scheme’s (FSCS) “business as usual” workload in 2010/11 was £37m, according to its Annual Report and Accounts 2010/11.
End of the road for referral fees
Brokers who are reliant on referral fees should be looking for alternative revenue sources.
Has the FSA got too much on its plate?
Concerns raised over FSA’s committment of resources to FSCS Review.
Market moves: Aviva moves fuel the rumour mill
Like a moth to a flame, broker attention this month has been grabbed by Aviva. The decision of Mark Hodges to move to Towergate has set the rumour mill into overdrive as to why exactly he took the leap. Meanwhile his replacement as Aviva’s chief…
A mis-selling disaster
If the PPI protection scandal leaves a bill for £10bn, it could turn into a battle for survival for many brokers, says Tony Cornell
Ombudsman slams claims companies over PPI scandal
Claims management companies (CMCs) have “exploited” payment protection insurance (PPI) complaints, according to the Financial Ombudsman Service’s (FOS) legal director.
Lack of resources could hinder Bribery Act
As the 2010 Bribery Act comes into force on the 1 July, anti-corruption watchdog Transparency International UK has warned that its enforcement could be undermined by a lack of resource.
FSA chief claims radical approach needed to force change
The current regulator’s chief executive Hector Sants has stated that, over the past eight years, there has been “little or no evidence that any significant change has occurred in the attitude of the financial industry towards its customers”.
FCA will not prevent all firms from failing, says Cole
Margaret Cole, the Financial Services Authority’s (FSA) director of enforcement and financial crime, has spoken at the regulator’s conference on the forthcoming Financial Conduct Authority’s (FCA) approach to regulation.