Bank of England (BoE)
The most significant pressures reshaping UK insurance broking in 2026
With the UK’s top insurance brokers facing shifting market conditions, there is no better time to reassess the commercial, regulatory, and technological pressures shaping the sector. PKF Littlejohn insurance partner Paul Goldwin and director Charles Drew consider the areas of focus and the importance of discipline to position firms for the year ahead.
Insurance set for boom in machine learning, Bank of England survey finds
Insurance is growing its adoption of machine learning applications faster than any other financial sector, a Bank of England survey has found.
Software houses face regulatory oversight
The Bank of England, Prudential Regulation Authority and Financial Conduct Authority have set out plans to oversee “critical third parties” in the financial services sector.
BoE exercise: No additional action scenario on climate change ups UK insurer losses by 50%
UK general insurers could face at least a 50% increase in average annualised losses in a non additional action on climate change scenario, a report by the Bank of England has detailed.
Brokers urged to engage with Lords' Committee's insurance market regulation inquiry
Biba confirms it will be will be putting in a response to the consultation which closes on 11 February as compliance experts discuss whether the inquiry could have an effect on the regional broker market.
Lords starts hearing evidence in insurance market regulation inquiry
The House of Lords Industry and Regulators Committee kicked off its investigation which focuses on the commercial insurance and reinsurance market on 14 January.
FCA puts diversity under the microscope
The regulator is consulting on policy options to drive D&I in financial services as it warns lack of representation can “weaken the quality of decision-making”.
Biba takes action on FCA coronavirus warning
The trade body has pledged to support members as the regulator insists all firms must have contingency plans in place to deal with major issues such as Covid-19.
FCA appoints interim CEO
Current incumbent Andrew Bailey joins the Bank of England as governor on 16 March.
Strategy reform reveals FCA data drive
The watchdog wants to use automation to deepen understanding of markets but has been warned against developing an over-simplified view of the market.
Whistleblowing failures prompt regulatory intervention at Lloyd’s
PRA has laid down new rules after the Society of Lloyd’s disclosed that it had not maintained an anonymous whistleblowing channel for 16 months.
FCA head Andrew Bailey named as Bank of England governor
He will take over the position from Mark Carney on 16 March 2020.
Quizzical questions: 22 June 2018
Test your knowledge of the week's news with our topical quiz.
Bank of England has spent over £1.5m on GDPR
Freedom of Information request reveals a budget of nearly £2.5m.
Charles Randell to replace John Griffith-Jones as chair of the FCA
Randell to take up role on 1 April.
Brexit could see 75,000 financial services jobs lost
Reports suggest that the Bank of England believes that many London roles could go overseas if there is no Brexit trade agreement in place.
Mark Carney's insurance warning opens debate
BoE governor warned that insurance executives will be held to account over any issues.
Queen labels FSA "toothless"
The Queen has blamed the Financial Services Authority (FSA) for lacking "teeth" ahead of the 2008 financial crisis.
Robert Hiscox slams "feeble" ABI
The outgoing chairman of Hiscox, Robert Hiscox, has hit out at the lack of expertise in the incoming regulator and lack of strength among industry representatives at a recent industry conference.
UK in double dip recession
The British economy has been thrown back into recession following a 0.2% fall in GDP during the first quarter of 2012.
Former BoE committee man joins regional broker
Buckinghamshire-based J Bennett and Son has appointed Steve Smart as a non-executive director.