Regulation
Polly C - the hottest insurance gossip
The regulatory oar It's no secret that the regulator is taking a more intrusive approach to its duties but word has reached Polly that a number of larger broking firms have been receiving particular and rather costly attention.
ABI casts doubt on FOS' need to increase reserves
The Association of British Insurers (ABI) has responded to the Financial Ombudsman Service (FOS) by questioning the need for an increase in reserves and calling for a push on transparency.
Enterprise Rent-A-Car denies it wants brokers out of claims process
Enterprise Rent-A-Car has called for an amendment to the Road Traffic Act to ensure reporting of accidents to insurers, even in cases where the at-fault driver has admitted liability, is made mandatory.
Insurance Age blog: What's in a name?
Just when you had learnt what the CPMA stood for, the Government goes and changes the name of the new regulatory body tasked with keeping naughty brokers in check.
Biba reacts to Government consultation on new regulatory structure
The Government has opened its consultation on the future of financial regulation.
Planned pre-emptive regulatory powers "a nonsense" - RPC
City law firm Reynolds Porter Chamberlain (RPC) has warned the Government’s plan to hand the new financial services regulator the power to publicise an investigation before it is completed is contrary to principles of natural justice and makes a nonsense…
New broker regulator gets backing from FSCS
The Financial Services Compensation Scheme (FSCS) has put its weight behind the decision to make the body accountable to both the new Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA).
The professionalism push: Video interview with Sandy Scott, CII
Sandy Scott, chief executive of the Chartered Insurance Institute talks to Jonathan Swift about the challenges and opportunities facing the general insurance industry in its quest to embrace professionalism.
New broker regulator name changed to FCA
Financial Secretary Mark Hoban MP has announced the new regulator tasked with overseeing insurance intermediaries, previously known as the Consumer Protection and Market Authority (CPMA), will now be called the Financial Conduct Authority (FCA).
Video: The Bribery Act 2010 delay - part 2 advice for brokers
After Justice Secretary Ken Clarke made clear the delay did not mean Government had any intention of "watering down" the Act, partner at Browne Jacobson, Matthew Woodford, advises brokers on how to prepare for the new rules.
National broker welcomes Bribery Act delay
JLT’s D&O liability team has welcomed the delay to implementation of the Bribery Act claiming there is too much uncertainty around the Act.
Biba hits out at FSCS levy rise
The British Insurance Brokers’ Association (Biba) has hit out at this year's over 50% increase in the Financial Services Compensation Scheme (FSCS) levy.
Brokers hit by further FSCS levy rise of over 50%
The Financial Services Compensation Scheme (FSCS) has announced that the general insurance mediation sub-class will have to contribute £93.5m in 2011/12 a 57% increase over last year’s levy (2010/11: £59.6m).
CEO for new broker regulator unveiled
The Financial Services Authority (FSA) has appointed Martin Wheatley as the new managing director of its Consumer and Markets Business Unit.
Reportage - engineering: Keeping things ticking over
With news of cutbacks to the HSE budget, there are fears the engineering inspection sector will suffer. Neil Clutterbuck advises how brokers can ensure their clients' equipment meets UK standards and help reduce risk.
Discussion paper gives first hints regarding future philosophy of CPMA
The Financial Services Authority (FSA) has called for a public debate about how it, and in future the proposed Consumer Protection and Markets Authority (CPMA), should pursue the objective of consumer protection and specifically the issue of product…
Intermediary receives FSA fine and ban for 'turning blind eye'
The Financial Services Authority (FSA) has fined an intermediary £25,000 and banned him from working in regulated financial services for his part in a scheme that defrauded Markel and QBE, through its agent Amalfi, of more than £2m.
Systems and regulation top brokers' 2011 concerns
Improving systems and regulation are the issues that concern brokers and underwriters most for 2011, according to insurance software specialist Sequel.
Bespoke insurance regulation is top of Biba agenda
The British Insurance Brokers' Association (Biba) has put regulation at the top of its 2011 manifesto agenda as it continues to campaign for a regulatory approach more tailored to its members.
No let-up in FSCS levy burden for next two years
Brokers have been warned that the heavy cost of the levy imposed by the Financial Services Compensation Scheme (FSCS) in 2010 could become the norm for the next two years.
Majority of firms ill-equipped to cope with new Bribery Act
Nearly two thirds of insurance firms are still not prepared for new anti-bribery legislation set to be enforced in April this year.
The interview: The charisma in compliance
When Steve White joined Biba in 2004, he brought with him a unique understanding of the application of FSA rules to insurance broking. He has since gone on to be crowned Compliance Personality of the Year 2010. Liz McMahon reports
Your opinions: Any thoughts on implementation of the Consumer Credit Directive?
Insurance Age welcomes your opinions via email, Linked In, the Broker Forum, Twitter and good old-fashioned letters. Send your views to Martin Friel, editor, Insurance Age, VNU House, 32 - 34 Broadwick Street, London, W1A 2HG, or email martin.friel…
Brokers to see FSA fees fall in 2011/12
Brokers will see a fall of 9.4% in minimum fee levels from the Financial Services Authority (FSA) in 2011/12 according to its Regulatory Fees and Levies consultation document.