Compliance
Centricity MD Becky Morris on meeting its five-year plan with a ‘pretty unique’ approach
Becky Morris founded Centricity, based in Horsham, West Sussex in October 2021 with Financial Conduct Authority authorisation following in February 2022. The business won the Start-up Broker Award at the recent UK Broker Awards.
FCA urges focus on Consumer Duty annual board report obligations
Nisha Arora, director of cross-cutting policy and strategy at the Financial Conduct Authority, has called on firms not to delay their preparations for the annual Consumer Duty board reports.
What can MGAs learn from the latest turbulence among capacity providers?
The problems at Accredited and Vesttoo highlight the need for managing general agencies to have good risk management in place on their capacity arrangements.
FCA data reveals spike in insurance skilled persons reports
The Financial Conduct Authority has revealed commissioning seven skilled person reports across the general insurance and protection sector between July and September.
Biba delivers fair value assessment framework
The British Insurance Brokers’ Association has launched a fair value assessment framework, after the Financial Conduct Authority took aim at brokers in its review of flat insurance costs.
Acturis unveils API integration with insurtech
Acturis has partnered with insurtech FullCircl to integrate its SmartBroker solution into the platform.
Could regulators stymie the growth of the fronter market in the UK?
The failure of Vesttoo in the US has only increased scrutiny on fronters in the UK. But as Saxon East discovers the emergence of Bridgehaven and continued growth of the MGAs, mean that they still have a potentially bright future.
Biba welcomes FCA flat insurance reforms
The British Insurance Brokers’ Association has welcomed the Financial Conduct Authority’s rule changes on residential multi-occupancy buildings insurance.
FCA flags PI concern in AR update
The Financial Conduct Authority has highlighted the need for principal firms to have compliant professional indemnity insurance to cover the activities of current and former appointed representatives.
Regulators consult on measures to boost D&I in financial services
The Financial Conduct Authority and the Prudential Regulation Authority have released consultation papers setting out proposals to boost diversity and inclusion to support healthy work cultures, reduce groupthink and unlock talent.
E-trading can thrive, but not at the expense of access to underwriters – Arch
Digital e-trading can thrive, but it can’t be at the expense of broker contact with underwriters, according to Vicky Rowley, national director of business transformation at Arch Insurance.
Biba adds Sparkes and Chapman to board
The British Insurance Brokers’ Association has unveiled a pair of appointments to its main board and broadened access to it.
Gauntlet launches “try before you fly” AR option
The Gauntlet Group has launched a new “try before you fly” option for people looking to become an appointed representative of the network, Insurance Age can reveal.
Broking Success: Targeting the 100-year milestone
WH&R McCartney is believed to be the oldest independent broker in Scotland. With only a handful of years left to go until its centenary, directors Graeme Robb and Alan Kirkwood are confident of further growth and success for the Motherwell-based firm.
Graeme Trudgill on taking up the reins at Biba
Graeme Trudgill has committed to fighting strongly for brokers and to getting even more access to the Financial Conduct Authority for members as he takes up the role of CEO of the British Insurance Brokers’ Association.
Sicsic Advisory teams up with software experts for fair value product
Regulation consultancy Sicsic Advisory has teamed up with lifecycle management experts Skyjed to launch a new all-in-one product oversight and governance solution.
Brokers waiting on insurers and tech vendors to demonstrate value of AI and ChatGPT
Brokers are unlikely to actively embrace artificial intelligence and explore the potential of ChatGPT until insurers and technology vendors have demonstrated their value, and none need fear that they will replace them in giving advice.
FOS insurance complaints rise 19.9%
The Financial Ombudsman Service opened 39,730 new insurance cases in 2022/23.
In Depth: How broker networks are embracing data and new technology
There have been a glut of recent data and technology solutions launched into the network space. Martin Friel explores how important these developments are when it comes to attracting new members.
In Depth: Building a USP to make a broker network stand out
Networks are playing an increasingly important role in helping build and grow the independent broking successes of the future. With so much competition to choose from though, how are these businesses looking to differentiate themselves? Martin Friel…
Interview: Paul Tasker, Reg Technologies
Paul Tasker spent his entire career working in broking, until he moved five years ago to insurtech Reg Technologies. Enjoying life in his new role, he talks about risks facing insurance firms and how Reg can help.
Brokers told to prepare for major law change in rental insurance sector
Brokers have been told that a major change in the law in property will also affect the insurance market.
FCA sets out whistleblower commitments
The Financial Conduct Authority has unveiled a series of actions to boost whistleblowers’ confidence.
Sicsic Advisory becomes Biba associate
Regulatory and risk consultancy Sicsic Advisory has become an associate of the British Insurance Brokers’ Association.