commission
No price cap or zero interest order plans from FCA on premium finance
The Financial Conduct Authority has confirmed it will not introduce a price cap or order that premium finance is provided without interest, as it published its final report.
PremFina leaders tackle growth, profitability and regulation changes
As PremFina restructures for “the next stage of the journey”, chief product and revenue officer Laura Sweetman and chief strategy officer Danielle Medhurst share how it will partner with brokers en route to reaching profitability by the end of June next…
FCA to consult on £9bn – £18bn motor finance compensation scheme
The Financial Conduct Authority will consult on a proposed compensation scheme for motor finance customers after a Supreme Court ruling on 1 August.
Supreme Court rules on motor finance
The Supreme Court handed down its motor finance judgment on 1 August ruling in favour of the lenders in two out of three cases.
Experts respond to ‘much ado about nothing’ FCA premium finance review
“After weeks of speculation, the overall feeling is one of ‘much ado about nothing’ – especially if you’re a firm doing the right thing,” said Michael Sicsic, managing partner of Sicsic Advisory, on the Financial Conduct Authority’s premium finance…
No broker commission bans or compulsory 0% APRs on premium finance, says FCA
The Financial Conduct Authority has confirmed it is not going down the route of banning broker commission in premium finance and will not be forcing a 0% annual percentage rate or bringing in a single level market-wide cap.
Close Brothers to cut broker relationships in personal lines pull back
Close Brothers has confirmed it will exit some broker relationships over the next year as it pivots away from personal lines premium finance to focus on commercial business.
Broking Success: One team
James Godsall, managing director of generalist broker Jukes Insurance, on bringing teams together and maintaining a high street-type presence while moving the broker to 50/50 commercial and personal lines.
Brokers closed Q1 with optimism on growth at five-year high – Aviva
Brokers’ optimism for growth reached its highest level in the past five years this March, according to Aviva’s Broker Barometer research.
News analysis: Does the UK broking community actually need another network?
With Jensten becoming the latest addition to the network landscape in March, Martin Friel assesses whether the sector is over subscribed and reflects on how these operations have evolved over the last three decades.
The FCA’s new five-year plan – what does it actually mean for brokers?
Following the recent publication of its new five-year plan, Insurance Age canvassed opinion from regulatory experts and market commentators on what brokers might expect from the the Financial Conduct Authority between now and 2030.
News analysis: What does Aviva’s commission flex move mean for brokers and their customers?
In February, Aviva told brokers using e-trading platforms Fast Trade and Acturis E-Trade that they could set their own commission rates within set parameters of between 0% and 35%. Saxon East explores what this move means for brokers, their customers and…
Aviva gives e-trade brokers commission flex up to 35%
Aviva has written to brokers that use its own e-trading platform Fast Trade – as well as Acturis E-Trade – telling them they can set their own commission rates within set parameters, Insurance Age has learned.
Interview: RSA commercial managing director Sonya Bryson on being the “insurer on speed dial” for brokers
RSA commercial managing director Sonya Bryson told Insurance Age the insurer has established its regional footprint as she shared insight on traded SME and servicing risks better that fall between e-trade and mid-market, but admitted it is behind…
£1.3bn tech firm targets brokers with premium finance launch
Credit technology provider Abound has launched a new premium finance solution which it claims will “revolutionise” the sector by replacing “slow and outdated direct debit system with instant, automated payments”.
Close Brothers to launch digital commission disclosure consent solution
Close Brothers Premium Finance has announced plans to launch a new digital solution to help brokers fulfill their commission disclosure consent obligations.
No change to Premium Credit disclosure arrangements
Premium Credit is not asking distribution partners to make any changes to existing customer journeys after reviewing the implications of a legal ruling for commission disclosure in motor finance.
Review of the Year 2024: Collegiate’s Richard Turnbull
Collegiate managing director Richard Turnbull expresses disappointment with the return of the ‘pay-to-play’ model in broking, surprise at Aon’s acquisition of Griffith & Armour and considers whether 2024 was the ‘era of repeating past mistakes’.
RSA targets writing to brokers in January on commission as NIG integration progresses
RSA will have harmonised its baseline commission tables by the end of this year, according to Laura Fox, distribution development director, in the latest integration webinar after the deal for NIG.
Analysis: Placement strategies – are brokers turning the tables?
What is driving brokers’ decisions on which markets they use? While once it was insurers holding the aces, it now appears the boot is on the other foot, finds Rachel Gordon
Blog: What implications could the motor finance scandal have on insurance brokers?
As the industry shoots itself in the foot. Again. Matthew Maxwell Scott, founder and executive director of the Association of Consumer Support Organisations explores how the motor finance scandal fallout might see brokers caught in the cross-fire.