Dual pricing
Review of the year: RSA's Kevin Demmon
RSA's London Market property director discusses the biggest challenges the insurance market has faced in 2021 and what he has learned from them.
Review of the year: Axa's Marco Distefano
Axa UK's MD of retail home and motor looks back at 2021.
Home insurance premiums drop 8.2% year-on-year
Consumer Intelligence data reveals that a typical buildings and content policy now stands at £138, but premiums are expected to go up due to new pricing rules.
Review of the year: Ageas' CDO Adam Beckett
The chief distribution officer talks resilience, ESG, dual pricing, and broker innovation throughout 2021.
Ex Be Wiser boss Mark Bower-Dyke launches consultancy firm
Bower-Dyke tells Insurance Age about his plans for the new venture and discusses why he believes there was a gap in the market for quality advice.
Foley flags Axa transformation programme
Products and digitisation are key priorities for the retail CEO who joined the insurer in 2020.
Insurance trade associations create fair value template
In an attempt to help firms better prepare for the Financial Conduct Authority's new product governance rules, trade associations representing the general insurance market have produced a fair value assessment template.
FCA warns brokers have "failed to understand" impact of product governance rules
In a Dear CEO letter to the industry, the regulator highlights that the rules, which came into force on 1 October, apply to all personal and commercial lines brokers.
Motor premiums continue to fall in Q3
Premiums are the cheapest they have been since mid-2015, but the rate at which prices are falling has slowed in the last three months, according to Confused/Willis Towers Watson.
FCA focus on fair value causes confusion for brokers
Research by Ecclesiastical shows 40% of brokers do not understand how their business will be impacted ahead of the new product governance rules coming into force on 1 October.
FCA signals litigation threat as it highlights priorities
CEO Nikhil Rathi pledged to use the watchdog’s criminal powers to deal with misconduct and financial crime.
Interview: Paul Harvey, Adiona
New motor provider Adiona's founder and CEO tells Insurance Age about his plans for the business and why it will be looking to work with brokers in the future.
Brokers urged to take action after FCA calls for clarity on remuneration
Experts say brokers need to review their business models after the regulator slams the industry for "weakness" over product governance rules and highlights its focus on fair value.
Peril in product governance – who you gonna call?
News analysis: Brokers are under the cosh and many need guidance on how to implement the FCA’s wide-reaching rules on product governance.
FCA urges insurers to take action on BI claims payments
FCA director Matt Brewis sets out the regulator's supervisory strategy for insurers as he warns firms to speed up business interruption payments and follow fair value guidelines.
FCA slams firms for “weakness” over fair value rules
The watchdog highlighted broker remuneration as an issue and said that many firms might not be ready to implement incoming product governance rules.
FCA updates dual pricing rules
Regulator releases policy statement with updates and clarifications to its GI pricing rules following feedback, but highlights that the changes do not affect its desired outcomes.
Insurance Hound: Most read by brokers in June and July 2021
Which trending topics have caught brokers’ eyes this summer?
The FCA piles on the pressure
News analysis: As the regulatory watchdog bares its teeth in its new business plan, are brokers ready to come to heel? Rachel Gordon investigates.
Allianz Holdings reveals drop in GWP in first half of 2021
Provider points to continued impact from Covid-19 as well as competitive market conditions and the run-off of certain portfolios as it also reports a COR of 91.7%.
Sabre reports COR of 74.4%
Results for H1 show GWP drop as motor specialist prioritises profitability over volume, joins Saga panel and flags creation of temporary insurance product in H2.
Firms must respond to FCA pricing reform survey by 9 August
The watchdog, which announced new rules earlier this year, is canvassing brokers about their readiness to implement the remedies.
FCA fines totalled £189.8m in 2020/21
The total amount fell by 15% from £224.4m in 2019/20 as the regulator also outlines its response to the pandemic and other actions taken last year in its annual report for 2020/21.
Motor premiums drop 8.4% year-on-year
Data from Consumer Intelligence also suggested the FCA dual-pricing regulation would see the industry experience a hard market once more.