Regulation
Customers may eventually bear brunt of PPI compensation
The decision by the banking sector not to appeal against the recent payment protection insurance (PPI) ruling may not be all good news for consumers it has emerged.
Calls for banks to settle PPI claims swiftly
The Financial Services Authority (FSA) has welcomed the decision by the British Bankers’ Association (BBA) and Nemo Personal Finance (Nemo) to accept the High Court’s dismissal of their legal challenge to the FSA’s payment protection insurance (PPI)…
Banks' PPI decision could be bad news for brokers
The banking industry's decision to abandon its appeal against the High Court's judgment on the mis-selling of payment protection insurance (PPI) could lead to a further flood of claims.
Banks abandon PPI appeal
The British Bankers' Association (BBA) will not appeal the High Court judgment on the mis-selling of payment protection insurance (PPI).
FSCS pledges to target insurers in the wake of High Court PPI ruling
The Financial Services Compensation Scheme’s (FSCS) confirmation that it will pursue recoveries from insurers involved in the mis-selling of payment protection insurance (PPI) has triggered debate over where the responsibility for the whole debacle…
FSA fines set to treble, brokers warned
Two new regulators formed from splitting the FSA could compete to set the highest fines
Polly C – the hottest insurance gossip
Polly’s attention has been drawn to a tricky situation facing brokers and their insurer accounts.
Ruling forces rethink over ash cloud payouts
Ombudsman rules that insurers remain liable for payouts to passengers left stranded by ash cloud
Reportage: what is there to be afraid of?
The shake-up of the regulatory regime has got the industry in a sweat, fearing the wounded beast may put it under unwarranted scrutiny. Edward Murray looks at what it means for brokers
Time to refine measures
The Bribery Act guidance doesn’t need to be a burden on the corporate system, says Richard Burger
Tysers takes on corporate governance expert
Tysers has hired Trevor Newbery as an additional non-executive director.
New directive on insurance intermediaries: a serious warning against excessive regulations from Brussels
The new Intermediaries Directive (IMD2), coming less than a decade after the implementation of IMDI, will re-shape the entire regulatory environment for insurance distribution in each of the 27 EU member states.
Police fraud investigation results in eight convictions
A total of five men and three women, from across the UK, have been convicted at Leicester Crown Court for their part in a car insurance fraud scam worth tens of thousands of pounds.
Sharp rise in staff exiting FSA
The number of staff leaving the Financial Services Authority (FSA) over the past year has nearly doubled as it prepares for its 2012 overhaul.
Radical product intervention could stifle choice, warns ABI
The Association of British Insurers (ABI) has called for a balanced approach by the Financial Services Authority (FSA) on product regulation that reflects the diversity of retail financial services markets in the UK.
PPI judgement welcomed by FSA but disappoints banks
The Financial Services Authority (FSA) has welcomed the High Court’s dismissal of the British Bankers’ Association’s (BBA) legal challenge to its payment protection insurance (PPI) measures.
Banks lose PPI legal challenge
The High Court has ruled in favour of the approach taken by the Financial Ombudsman Service (FOS) and Financial Services Authority (FSA) in the handling of payment protection insurance complaints.
Regulatory burden on brokers is heavier than tax
The British Insurance Brokers’ Association (Biba) has warned that the regulatory burden imposed by the Financial Services Authority (FSA) on the insurance broking sector is a greater competitive disadvantage than the amount of corporation tax it pays.
Countdown to Biba 2011: the changing regulatory landscape
With the British Insurance Brokers' Association conference now less than four weeks away, Post and Insurance Age editor-in-chief Jonathan Swift sat down with the Biba CEO Eric Galbraith to discuss the issues which are likely to come to the fore in…
Five year fraud investigation results in 33 guilty pleas
A five year investigation by Bedfordshire Police into a major insurance fraud by an organised criminal enterprise based in Luton has concluded with three of the last four defendants being found guilty at Luton Crown Court.
ABI warns against duplication in regulatory reform
The Association of British Insurers (ABI) has called for transparent and accountable co-ordination between the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA).
Biba launches FSCS petition to prompt Treasury review
The British Insurance Brokers’ Association (Biba) has launched a petition of its members on the Financial Services Compensation Scheme (FSCS) to be tabled in the House of Commons by an MP.
Your opinions - letter to the editor - re: article “Abiding by the Rules”
Have your say via email, LinkedIn, the Broker Forum, Twitter and letters.. Send your views to Martin Friel, editor, Insurance Age, VNU House, 32 – 34 Broadwick Street, London, W1A 2HG or email him.
FSCS GI levy rises but not as much as feared
The Financial Services Compensation Scheme (FSCS) has set the 2011/12 levy on general insurance (GI) intermediaries at £69.5m.