Regulation
LMA warns on proposed regulatory system
The Lloyd’s Market Association has argued that the proposed regulatory system for the UK is being created around the banks which will make it over-engineered, unsuitable and unjustifiably costly for the general insurance industry with Lloyd’s brokers…
Opinion: Editor's comment
We're all fully aware the Financial Services Authority (FSA) is getting tough. Both the trade press and the business pages of the national press are full of stories about the regulator fining and banning financial services practitioners. And this is very…
Reportage - start-ups: Branching out
Starting your own business is exciting but deciding between autonomy and a helping hand can be tough. Edward Murray looks at what to consider to get what you want and make sure your venture flourishes.
Broker Expo 2010: The Expo experience
It's that time of year again - the Insurance Age Broker Expo is fast approaching - so here's a rundown of what to expect. As usual we have the excellent, interactive workshops and nearly 100 exhibitors but this year we have introduced one-to-one broker…
Government urged to cut red tape for SMEs ahead of spending review
The Forum of Private Business is calling on the Government to reform tax and red tape for small business ahead of the Comprehensive Spending Review.
FSA revokes regulatory permission for two brokers
The Financial Services Authority (FSA) has cancelled regulatory permission for Cheshire-based Right Deal Insurance Services and Kent-based A2b Commercial Insurance Services.
Brokers urged to ensure clients sign up to climate change scheme
Allianz Engineering said it is reminding brokers of the 30 September deadline for businesses to sign up to a Government-backed climate change and energy-saving scheme.
Lloyds TSB tops FOS general insurance complaint table
Lloyds TSB Bank has received more Financial Ombudsman Service (FOS) general insurance complaints than any other individual financial business - with 8,474 new cases during H1 2010.
Opportunity for brokers to slash their FSCS contribution
Brokers labouring under the demands of this year's Financial Services Compensation Scheme levy may be given the chance to resubmit their data and dramatically cut their contribution.
Viewpoint: The pros and cons of commission disclosure
Evolution Underwriting CEO Paul Upton evaluates the pros and cons of commission disclosure for large and small brokers as the transparency of the current model comes under scrutiny by professionals in the US and the UK as well as by the European…
SMEs and Government: A cure for the economy
Small business is the backbone of the UK economy, says Stephen Archer, and the Government needs to encourage, rather than hinder, its growth.
Insurers' PPI responsibility: Accepting responsibility
Against the backdrop of the recent FSCS levy increases, Martin Friel asks what responsibility insurers have for making sure products sold on their behalf are done so properly.
Record FSA fine prompts call for brokers to help tackle fraud
Brokers have been called on to do more to support the Financial Services Authority's (FSA) crackdown on fraudulent behaviour after the regulator imposed one of the largest ever fines on an individual.
Goldman Sachs hit with £17.5m FSA fine
The Financial Services Authority (FSA) has fined London-based firm Goldman Sachs International (GSI), part of the Goldman Sachs Group, £17.5m for breaching FSA principles.
Willis to appeal Indian regulatory renewal rejection and form new joint venture
Willis Group Holdings is to appeal the decision by the Insurance Regulatory Development Authority (IRDA) that it is "not inclined to accept" the license renewal application of the broker's joint venture in India, Willis India Insurance Brokers Pvt…
Margaret Cole appointed to FSA Board
Margaret Cole has joined the Financial Services Authority Board as managing director of enforcement and financial crime, effective from today, 7 September 2010.
CII launches online ethics course
The Chartered Insurance Institute (CII) has launched an online learning course in ethics for all Personal Finance Society (PFS) and CII members in response to a dip in public confidence in insurance.
EU gives green light to super regulators
The European Union (EU) has reached an agreement on the reform of financial supervision, paving the way for the creation of new pan-EU supervisory authorities which will oversee controls on banks and insurers.
FSA imposes lifetime ban on broker
The Financial Services Authority (FSA) has banned insurance broker David Marriott for persistent misuse of client money after using clients funds to support his businesses and finance bonuses, salary increases and new cars.
FSA slaps Zurich UK with record fine for data loss
The Financial Services Authority (FSA) has hit Zurich UK with a record fine of £2.275m for failing to have adequate systems and controls in place to prevent the loss of customers’ confidential information.
Climate science: Too hot for comfort
Global warming is one of the most contested and emotive issues in the world. Regardless of whether the experts are right or wrong, the industry has to face the challenge, writes Danny Bradbury.
Video: Axa claims MD puts weight behind broker levy fight
Axa's managing director of claims, David Williams, talks to Insurance Age about the FSCS levy and insurer responsibility for PPI mis-selling.
FSA demands firms implement new measures to protect PPI customers
The Financial Services Authority (FSA) has given firms until the end of November to implement a set of new measures intended to help protect consumers in the payment protection insurance (PPI) market.
RPC research shows FSA resignations up 128% in a year
There has been a 128% leap in the number of staff resigning from the Financial Services Authority in just one year as the government proposes to abolish the regulator, according to city law firm Reynolds Porter Chamberlain.