Financial Compensation Scheme (FSCS)
IIB 'delighted' with FSCS funding review decision
The Institute of Insurance Brokers (IIB) has welcomed news that the Financial Services Authority (FSA) is to restart its funding review of the Financial Services Compensation Scheme (FSCS).
Biba backs FSCS funding review
The British Insurance Brokers’ Association (Biba) has given its full backing to the Financial Services Authority (FSA) following its announcement that it is restarting its funding review of the Financial Services Compensation Scheme (FSCS).
FSA refuses to refund FSCS levy to exempted firm
The Financial Services Authority (FSA) has declined to refund a regulated firm a portion of its FSCS levies after the firm discovered it should have been exempt from the payment.
IIB calls for FSCS review after 900% levy increase
The Institute of Insurance Brokers (IIB) has presented research to the All Party Parliamentary Group on Insurance and Financial Services (APPGIFS) showing that brokers with an income of £500,000, £1m or £5m have seen their Financial Services Compensation…
Claims volume forces FSCS to exceed budget
The cost of running the Financial Services Compensation Scheme’s (FSCS) “business as usual” workload in 2010/11 was £37m, according to its Annual Report and Accounts 2010/11.
Has the FSA got too much on its plate?
Concerns raised over FSA’s committment of resources to FSCS Review.
A mis-selling disaster
If the PPI protection scandal leaves a bill for £10bn, it could turn into a battle for survival for many brokers, says Tony Cornell
FSCS adds journalist to board
The Financial Services Authority has appointed Liz Barclay, David Weymouth and Jayne Nickalls as non-executive directors to the board of the Financial Services Compensation Scheme (FSCS).
FSA grilled over delayed FSCS review
The All Party Group on Insurance and Financial Services has expressed its disappointment that the regulator could miss the deadline for its review of the Financial Services Compensation Scheme (FSCS).
FSA declines to commit to April 2012 FSCS review deadline
Sheila Nicoll, director of conduct policy at the Financial Services Authority (FSA), has told a meeting of the All Party Parliamentary Group on Insurance and Financial Services (APPGIFS) that the barrier to continuing the Financial Services Compensation…
New product intervention approach could result in firm TCF rules
The Financial Services Authority (FSA) has revealed its intention to create a single set of rules for product intervention which could involve making all TCF material statutory.
Biba’s 7000 strong FSCS petition delivered to MPs
The British Insurance Brokers' Association (Biba) has presented its Financial Services Compensation Scheme (FSCS) petition of nearly 7000 member signatures to Jonathan Evans MP at the House of Commons.
FSA spends £763k on delayed FSCS review
The Financial Services Authority (FSA) spent £763,000 on a review of the Financial Services Compensation Scheme (FSCS) only to then shelve it in 2010, Insurance Age has learnt.
Judicial reviews will rise after FOS award change, warns law firm
The announcement by the Financial Services Authority (FSA) that the Financial Ombudsman Service's (FOS) maximum binding award is to be increased to £150,000 will lead to an increase in judicial reviews according to lawyers at Browne Jacobson.
PPI broker enters administration
The Financial Services Compensation Scheme (FSCS) has confirmed that Wilmslow Financial Services has been put into administration.
Biba 2011: Biba/IIB merger could drive regulatory change
The proposed merger of the British Insurance Brokers’ Association (Biba) and the Institute of Insurance Brokers (IIB) will give the broking industry “one strong voice”.
Biba and IIB confirm merger discussions
The British Insurance Brokers’ Association (Biba) and the Institute of Insurance Brokers (IIB) have confirmed they are in formal merger discussions with an aim to complete them by the end of the year.
Banks' PPI decision could be bad news for brokers
The banking industry's decision to abandon its appeal against the High Court's judgment on the mis-selling of payment protection insurance (PPI) could lead to a further flood of claims.
FSCS pledges to target insurers in the wake of High Court PPI ruling
The Financial Services Compensation Scheme’s (FSCS) confirmation that it will pursue recoveries from insurers involved in the mis-selling of payment protection insurance (PPI) has triggered debate over where the responsibility for the whole debacle…
What the Papers Say
Bluefin's marketing guru Peter Elliott joins Liz McMahon, senior reporter at Insurance Age and the magazine's editor Martin Friel to discuss the trade press' biggest stories.
PPI meeting hopes to quash bad blood in industry
A meeting has been scheduled between the old payment protection insurance (PPI) market and the long term income protection market.
FSCS may hold insurers liable for PPI fines
The Financial Services Compensation Scheme (FSCS) has confirmed that it could pursue recoveries from insurers who permitted failed credit brokers to act as their agents.
Biba issues response to Treasury consultation
The British Insurance Brokers’ Association (Biba) has responded to the HM Treasury consultation: A new approach to regulation – building a stronger system, and called for proportionate, appropriate and cost-effective regulation for brokers.