Regulation
FCA appoints interim CEO
Current incumbent Andrew Bailey joins the Bank of England as governor on 16 March.
The Blog Spot: Breaking barriers to insurance
As Biba focuses on improving access to insurance in its manifesto, commissioning editor Laurence Eastham considers where changes will occur in 2020.
Biba focuses on access to insurance in 2020 manifesto
Manifesto includes 37 commitments and 29 calls for action across nine key areas including regulation, broking challenges, Brexit, and transport.
By Miles receives FCA ‘open banking’ licence
InsurTech will be able to access the financial data of consenting customers.
FSCS levy hike reignites call for separate broker pot
Expected broker levy rose to £23m for 2020/21 after spike in PPI complaints.
FSCS hikes broker levy up by £11m for 2020/21
Organisation says indicative levy for general insurance distribution is £23m and publishes Plan and Budget for the next financial year as total levy goes up by £87m.
Former FCA insider develops compliance platform for brokers
Industry veteran Michael Sicsic partners with Governor Software to help brokers and insurers digitalise key compliance processes in a changing regulatory environment.
Strategy reform reveals FCA data drive
The watchdog wants to use automation to deepen understanding of markets but has been warned against developing an over-simplified view of the market.
FCA warns insurance managers to tackle misconduct
Not addressing non-financial misconduct may lead managers to fail the SM&CR.
Gefion meets €5m liquidity deadline
The Danish provider has complied with the order from a regulator to have liquid assets of at least €5m by the end of 2019, after further investment from shareholders.
Blog: Is insurance picking up the bill for outdated building regulations?
Alison Whittington, head of housing at Zurich, discusses the hazards of modern properties and how insurers are getting involved.
Whistleblowing failures prompt regulatory intervention at Lloyd’s
PRA has laid down new rules after the Society of Lloyd’s disclosed that it had not maintained an anonymous whistleblowing channel for 16 months.
FCA launches call for input on open finance
Regulator is looking to extend the principles of open banking to other sectors including general insurance.
Blog: Is it curtains for net-rated products?
Ann Peel, technical consultant at Insurance Compliance Services, discusses the potential impact of the FCA's latest interventions.
Broker turned Tory MP Craig Tracey re-elected with record majority
Tracey, who is chair of the All-Party Parliamentary Group for Insurance and Financial Services, got 65.9% of votes in North Warwickshire and Bedworth.
Tory broker Melanie Hampton predicts "unusual" election
The Alexander Miller MD, who is a Conservative cabinet member on Wandsworth Council, says voting patterns are changing and highlights her belief in the importance of securing a Brexit deal.
Blog: When does ‘banter’ become harassment?
Louise Lawrence and Leah Caprani of Winckworth Sherwood LLP examine how insurance firms can ensure they provide a safe working environment.
D&O rate increases hit 77.3%, reports Marsh
Company warned that there is no end in sight to the recent rate hikes in the sector.
News analysis: Are brokers still in love with Gibraltar insurers?
The recent run of Gibraltar-based insurer insolvencies has made the headlines, but the low tax and light-touch regulations in the jurisdiction attract UK businesses and insurtech start-ups. Martin Friel investigates why brokers are still dealing with…
Blog: Is your firm ready for the SMCR?
Nick Elwell-Sutton of Clyde & Co outlines the steps that brokers need to take to comply with the impending regulation.
FCA issues fresh warning on broker remuneration
Regulator issued new guidance on how brokers and providers can best serve customers.
FCA and PRA seek to ban and fine former insurance CEO
A joint investigation by the regulators found that between February 2010 and July 2016 Stuart Malcolm Forsyth transferred excessive amounts of his own salary to his wife, and as a result paid £18,000 less in income tax than he should have done.
FCA staff slammed for "shameful" behaviour
Watchdog responds to "unacceptable behaviour" as internal letter reveals "minority of colleagues" in the regulator's Olympic Park HQ have been defecating on the floor, stealing plants and abusing security and catering staff, according to reports.
Biba launches guide to no deal Brexit
Organisation created the guide with KPMG as a follow-up to last year's Brexit navigator.