Regulation
Brokers suing clients over contested complaints could breach TCF
Brokers that sue clients for complaining could be in breach of Treating Customer Fairly (TCF) principles.
PPI mis-selling crisis strikes Ireland
The Irish Central Bank has launched an investigation into the mis-selling of payment protection insurance on loans.
What the Papers Say - August 2011
In this month's What the Papers say, senior reporter at Insurance Age Liz McMahon, is joined by fellow senior reporter Emmanuel Kenning to discuss the latest top topics in insurance with principal of Bellingham Communications Ben Welsh.
Riots covered but claim extension unlikely, says Questgates
QuestGates has said that the local police authority has a legal responsibility to reimburse persons who sustain damage to property as the result of a riot under the Riot Damages Act 1886.
Biba calls for more intrusive regulation of comparison sites
Comparison sites must be recognised by the regulator as more than just introducers, according to The British Insurance Brokers’ Association (Biba).
New quarterly FOS data indicates PPI complaints set to double
The Financial Ombudsman Service’s (FOS) data for the first quarter of the financial year 2011/2012 has revealed that it received over 81,000 complaints – more than double the number received in the same period last year.
UK firms feel FSA scrutiny puts them at a disadvantage
The Financial Services Authority’s (FSA) post-crisis clampdown may be harming the UK’s international competitiveness, according to research among senior financial services executives.
Market moves: Underwriting boost and a nod to brokers
An interesting month saw ongoing developments on commercial business with personal lines remaining steadfastly silent. Insurers looked to boost their underwriting and pricing capabilities while keen to highlight they were reaching out to brokers. Axa…
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.