Regulation
FSA increases Sants’ car bill by £31,000
The Financial Services Authority (FSA) has admitted it under reported the cost of chief executive Hector Sants’ car benefits by £31,056 in 2010, according to The Times.
FSA publishes Annual Report for 2010/11
The Financial Services Authority (FSA) has published its annual report for 2010/11, outlining its performance against the priorities set out in its 2010/11 Business Plan and its statutory objectives.
Bottlenecking leads to PPI extension for top culprits
The Financial Services Authority (FSA) has agreed to temporary arrangements with extended timeframes for Barclays, Lloyds Banking Group and RBS to handle payment protection insurance (PPI) complaints.
FSA spends £763k on delayed FSCS review
The Financial Services Authority (FSA) spent £763,000 on a review of the Financial Services Compensation Scheme (FSCS) only to then shelve it in 2010, Insurance Age has learnt.
FSA review reveals TCF issues for aggregators
The Financial Services Authority (FSA) has deemed it necessary to issue proposed guidance on the selling of general insurance policies through price comparison websites.
Ombudsman's increased award limit will impact regulated firms
A professional indemnity expert has challenged the Financial Services Authority’s (FSA) claim that the Ombudsman’s increased award limit would not impact regulated firms.
Polly C – the hottest insurance gossip
Polly gets her red arm band on to relay this month's hottest gossip
Sign up now for the 2011 Prince's Trust Insurance Cup
With the 2010/11 football season over, whether your team finished top, rock bottom or stuck in mid-table obscurity, it’s time to start looking forward to The Prince's Trust Insurance Cup.
Knock-on effect
Solvency II and insurers’ need for high-quality information is beginning to impact on intermediaries, writes Ian Singer
Brokers call for clear risk transfer policy
Biba 2011 delegates demand FSA and ABI devise rules governing brokers’ handling of client money.
Clarification needed on credit write-backs
Insurer inconsistency over payment of credit write-backs is frustrating brokers
Market moves: Team players and fresh faces
They say a problem shared is a problem halved. And the same, elusive “they” also say that many hands make light work. Clearly the insurance community has been spending a lot of time with “they” as teamwork has been the buzz phrase in this month’s…
Groupama chief slams legal profession over referral fees
The chief executive of Groupama Insurances has blasted the “lobbying power” of the legal profession in preventing the introduction of an outright ban on the use of referral fees.
Insurance Age blog: Insurance isn't the problem says Galbraith
In a special guest blog, chief executive of the British Insurance Brokers' Association, Eric Galbraith, argues that the industry needs to work together to improve public perception.
Brokers must take heed of Bank of Scotland fine
Brokers have been urged to examine their own complaints procedures following the Bank of Scotland being dealt a £3.5m fine by the Financial Services Authority (FSA) for mishandling complaints.
Consumers urged to avoid claims managment companies in PPI cases
Consumers could lose out on over £2bn in payment protection insurance (PPI) redress by going to claims management companies according to consumer protection body, Which?
Trade bodies hail TV campaign to tackle uninsured driving
The British Insurance Brokers’ Association (Biba) and the Association of British Insurers (ABI) have welcomed the launch of a television campaign to tackle uninsured driving.
Regulators reveal PRA approach
The Bank of England and the Financial Services Authority (FSA) have published a joint paper setting out the current thinking on how the future Prudential Regulation Authority (PRA) will approach regulation.
Conference may hold long term PPI answers
Tomorrow’s conference on banking regulation may provide some much needed clarity on the future handling of payment protection insurance (PPI) complaints, according to Paul Clark, CEO of Charter UK.
FOS receives record-breaking number of PPI complaints
The Financial Ombudsman Service (FOS) has published its annual review covering the 2010/11 financial year.
New Bill puts responsibility for securing risk info on insurers
The onus of responsibility to provide all relevant information regarding a risk has shifted from the customer to the insurer following the introduction of a new Bill.
Biba 2011: Video – Biba Today: regulatory reform - views from Biba 2011
As the British Insurance Brokers' Association conference enters its second day, Post and Insurance Age catch up with delegates after a night of festivities in Manchester.
Biba 2011: Trade bodies must work together, says Homer
Insurance industry trade bodies need to join forces to solve the problems surrounding the handling of client money, according to Towergate's Andy Homer.
Biba 2011: Biba/IIB merger could drive regulatory change
The proposed merger of the British Insurance Brokers’ Association (Biba) and the Institute of Insurance Brokers (IIB) will give the broking industry “one strong voice”.