Compliance
Biba 2025: FCA hoping approach will help build confidence in firms
The Financial Conduct Authority hopes firms build confidence in their knowledge of customer service and outcomes, as opposed to undertaking a “tickbox” exercise, delegates at the British Insurance Brokers’ Association conference in Manchester heard…
Biba seeks insurer meetings after publishing disclosure advice
The British Insurance Brokers’ Association has launched cross industry guidance that it hopes will reduce misunderstandings over what should have been disclosed when cover was taken out - which in some cases will cause a claim to be repudiated or reduced.
Biba 2025 Countdown: FullCircl’s Ashleigh Gwilliam
Director of insurance industry growth at FullCircl and a member of the Biba Insurance Technology and Innovation Committee, Ashleigh Gwilliam, on ‘fearlessly defending’ his most conference steps title, the case for business cards and why Oasis’ …
Biba unveils new 5.2% regulation costs metric
The British Insurance Brokers’ Association has revealed for the first time the impact of regulation costs on insurance premiums paid by clients, setting the proportion at 5.2%.
No new FCA skilled persons investigations into insurance in final quarter
The Financial Conduct Authority did not commission any skilled person reports in the insurance sector between January and March, leaving the running total for the 2024/25 financial year at 10.
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.
FCA ends Scottish broker’s trading permissions after dual pricing attestation and response failures
The Financial Conduct Authority has cancelled L R Kennedy Insurance Services’ permission to carry out regulated activities with immediate effect.
The generational wealth gap and investment risks – a looming risk for brokers
Financial constraints have led to a greater reliance among younger generations on alternative investments that pose higher risks for investors and their financial advisors. As a result Kate Albert, CEO and co-founder at Kova Professions, warns brokers…
Newbie News: Taurus Risk
Thomas Beckett, co-founder of Taurus Risk, tells Insurance Age how he started the business and how he aims to grow the broker and find its niche.
Blog: When will broker regulation be proportionate?
With regulation always on the tips of the insurance industry’s tongues when it comes to challenges in the market, Rosie Simms asks how much the FCA needs to do, or pull back from, to have a proportionate recipe for growth?
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…
Experts hail proportionate regulation in FCA five-year strategy
The Financial Conduct Authority’s strategic plan for 2025-2030 is “expansive and broad”, but the initial impression is positive, “particularly on the noises the FCA has made around proportionate regulation”, according to Jill Hambley, managing director…
FCA to consult on removing minimum training and development hours in insurance
The Financial Conduct Authority will open a consultation this summer including on the definition of SME used in the insurance market as part of its ongoing review of Consumer Duty rules.
FCA launches five-year strategy promising smarter, more efficient and effective regulation
The Financial Conduct Authority has launched its five-year strategy revealing the four priorities for 2025 to 2030.
Jensten launches new network
Jensten Group has launched a new broker network.
FOI reveals smaller broker involvement in FCA’s first Consumer Duty board reports review
The Financial Conduct Authority included 34 firms from the insurance sector in its review of the first annual Consumer Duty board reports, a Freedom of Information request from Insurance Age has revealed.
In Depth: How can brokers access capacity for specialist and non-standard risks?
Brokers continue to face challenges placing non-standard specialist risks that sit outside the core appetite of many mainstream insurers. Edward Murray explores how MGAs might be able to help these intermediaries grow their books by giving them capacity…
In Depth: Risk-first broking – unlocking better terms through risk insights
To win out in the future brokers need to evolve from being insurance policy facilitators to proactive risk managers. Alan Sumner, risk management director, general insurance broking at Ardonagh Advisory, explains.
Two more S166s into insurance firms
The Financial Conduct Authority commissioned two skilled person reports into insurance businesses between October and December 2024, taking the running total for the financial year into double digits.
FSCS opens to claims after Scottish broker stopped from trading by FCA
The Financial Services Compensation Scheme has opened for claims from customers of Arthur Temlett, who traded as Abacus Insurance Consultants and was forced to stop carrying out any regulated activities by the Financial Conduct Authority at the start of…
Seven kilometre high pile – FCA moves to clarify email deletion plans
The Financial Conduct Authority has acknowledged it hit the headlines last week with criticism of its plans to delete emails held in staff inboxes after a year, and has sought to explain what it is doing and why.
FCA within a whisker of green sweep on authorisations
The Financial Conduct Authority delivered a top rating of ‘green’ across 16 authorisation metrics with only one ranked as ‘amber’ and none in the red zone during October to December last year.
Broker Diversity Push: No progress measured in 2024 benchmark
For the third year running the percentage of six key broking leadership roles held by women has stayed stuck at just over 16%, according to the latest Broker Diversity Push benchmark from Insurance Age.
6% of FCA financial promotions cases caused by GI & Protection
The Financial Conduct Authority has revealed the general insurance and protection sector accounted for 6% of its workload in the final quarter of last year against firms breaching financial promotion rules.