Commission disclosure
FCA announces overhaul in broker property commissions amid market failure
Brokers face a near ban on paying commissions to third parties after a shock FCA report revealed incompetence and unjustifiable remuneration in the buildings’ insurance market.
Thin end of the wedge – Could an FCA property commissions crackdown extend to all SME products?
Could the government’s plan to ban insurance commissions being taken by landlords, managing agents and freeholders on buildings insurance be extended to other lines? Saxon East looks at what might happen if this proves to be the start of something more…
Gove vows commission-chain ban as FCA buildings review on highest charging brokers imminent
A Financial Conduct Authority review into brokers charging the highest commissions for work on buildings insurance is due in just a few weeks as government minister Michael Gove vowed to ban commission-chains and bring in ‘transparent’ fees.
Review of the Year 2022: John Warburton, Konsileo CEO
In the latest part of Insurance Age's review of the year John Warburton, Konsileo CEO offers his reflections on 2022 and predictions for the next 12 months.
FCA contemplated commission level ban in flats insurance review
The Financial Conduct Authority “considered a number of options” as it worked on the multi-occupancy buildings insurance review and “one of them would include whether we should go forward and try to think about potential price caps or bans”, Sheldon…
Analysis: Brokers, insurers and the FCA’s product governance - confusion reigns
The FCA's new rules on product governance come into force on 1 October. But as Rachel Gordon discovers even with a three month extension or ‘forbearance,’ brokers are still in the dark about what is expected from them.
Aviva reveals scale of broker recruitment ‘headache’ threatening growth
Almost all brokers – 98% – currently have job vacancies with more than half (53%) reporting a vacancy that had been open for four months or more, according to research by Aviva.
Opinion: Commission vs fees?
Peter Robinson of Prizm Solutions considers the impact of professionalism on the debate.
FCA urges brokers to help leaseholders in response to Gove request
The FCA's Sheldon Mills fires warning shot on broker commission transparency and adds the regulator will "use its powers to intervene" as he issues 'Dear CEO' letter amid review of the insurance market for multiple-occupancy homes.
Blog: Ardonagh's swoop for 'brand Bayles' is a logical one rooted in past success
As Phil Bayles becomes the latest Aviva senior manager to join Ardonagh, Jonathan Swift suggests that having built his 'brand' at the insurer, he is well primed to now make his mark in the broker space.
News analysis: Brokers hit back after Mactavish stokes remuneration debate
Commission and transparency row rears its head just as brokers feel the pinch amid market hardening
Insurance Age Digital Edition: June - A balancing act
The June issue of Insurance Age is available via digital platforms only due to Covid-19.
Blog: What is the client view of broker commission?
IdRisk's Stephen Mooney responds to Mactavish's report on broker remuneration.
Broker Expo: Insurance Age to reveal exclusive research
Insurance Age’s largest broker survey will reveal average commission levels, broker opinion on consolidation and unrated insurers, and brokers' 2020 strategies.
Broker Expo: Clients focused on price and cover
Panel session argues that broker remuneration is not high on the agenda for clients.
News analysis: Brokers welcome IDD delay
UK brokers did not know what the rules would look like until January this year
Opinion: Tony Cornell
Concern over commission creep: Climbing commission could push premiums ever higher says Tony Cornell, but what can brokers or insurers do to stop it?
Allianz: Transparency disclosure in post-Brexit future
Low growth in the insurance industry plus Brexit means brokers depend even more on commissions.
Industry divided over commission disclosure
Brokers call for “ultra-transparency” as ABI questions current market approaches
Amanda Blanc repeats call for brokers transparency
CEO Axa UK & Ireland responds to comments from the ABI.
ABI calls for broker remuneration transparency
James Dalton says it is only a matter of time before the FCA starts asking questions about the transparency of broker commission.
Communication is key
Winning customers’ trust and meeting their expectations goes much further than getting levels of commission right, explains Amanda Blanc
Let’s be clear
The insurance industry has found itself under attack again over transparency on costs and fees.
ABI responds to Which campaign
Association says industry already transparent.