Regulation
Whistleblowing to FCA slips back
The Financial Conduct Authority received 253 reports from whistleblowers between April and June, down on the same period of last year and the first quarter of 2024.
Former broker Tracey loses seat as ex-Erskine Murray boss unsuccessful in bid to be MP
Former insurance broker and chair of the All-Party Parliamentary Group on Insurance and Financial Services, Craig Tracey, has lost his seat at the 2024 General Election.
FCA trims broker fees hike to 9.3%
The Financial Conduct Authority has confirmed it is raising the financial contribution of the general insurance mediation fee block by 9.3% for 2024/25, down from its initial projection of a 9.8% increase.
Trudgill: One year as Biba CEO
Graeme Trudgill, CEO of the British Insurance Brokers’ Association, looks to tackle challenges facing brokers as he celebrates a year in the role.
Avid targets £100m GWP by end of 2025
Managing director of Avid Insurance Services, Stephen Gibson, is targeting £100m of gross written premium by the end of 2025, growing from around £75m to £80m this year.
FCA encourages monitoring review ahead of first Consumer Duty annual report deadline
The Financial Conduct Authority has found many firms need to make improvements in their monitoring to enable them to determine whether they are delivering good outcomes for retail customers, as required by the Consumer Duty.
Meet the MGA: Kova Professions
Having worked in both the insurer and MGA sectors, as well as the FCA, Kate Albert has a well-rounded view of the market. The Kova Professions CEO and founder explains to Jonathan Swift why service has become a point of difference in setting apart her…
Whistleblowing to FCA increases
The level of whistleblowing to the Financial Conduct Authority increased in the first quarter of the year, reversing previous declines.
Howden to remain private but IPO not ruled out in future
Howden is “very happy” being private at the moment but could be listed at some point in the future, according to CEO and founder David Howden.
Aviva’s Blanc: UK insurance industry needs to start planning for a post-Flood Re world
Amanda Blanc, group CEO at Aviva, claimed the UK must be cautious about what happens in a post-Flood Re world come 2039.
Interview: Sabre CEO Geoff Carter
Sabre boss Geoff Carter tells Insurance Age about the upsides for brokers from its IHP rollout, growing in motorbikes after the collapse of MCE and profitable expansion plans in taxi.
FCA cancels Northern Ireland broker’s regulatory permission
The Financial Conduct Authority cancelled Down Insurances’ Part 4A permission on 7 June, confirming it “no longer has permission to carry on any regulated activity”.
Broadstone launches insurance, regulatory, and risk advisory division
Independent consultancy Broadstone has launched a standalone insurance, regulatory, and risk advisory division to sit alongside its existing Pensions Advisory and Administration and Employee Benefits Consulting units.
FOI confirms broker S166s including one financial crime review
A Freedom of Information request by Insurance Age to the Financial Conduct Authority has confirmed four broker S166s, indicated they were most likely smaller-sized firms, and revealed one of the reviews fell into the category of financial crime.
Broking Success: Investing in customer relationships
Ex-Swinton boss Gilles Normand, CEO of Academy, sees investing in customer relationships will help the broker grow through recommendations as it moves towards mostly commercial lines.
Four insurers able to restart selling GAP insurance – FCA
The Financial Conduct Authority has confirmed that four insurers can restart selling guaranteed asset protection insurance after it took action in February and March to halt sales across the market.
FCA improves all broker-impacting authorisation metrics
The Financial Conduct Authority has built on its steady progress in delivering authorisations with an across-the-board improvement in the areas affecting brokers.
Biba 2024: Experts have mixed outlook on UK economy
In the Biba 2024 conference session ‘What’s next for the economy?’, hosted by Clive Myrie, the panel expressed mixed views on the outlook for the UK, focusing on productivity, regulation and the election.
Biba 2024: FCA to take its time on transparency proposals
Emily Shepperd, chief operating officer of the Financial Conduct Authority, has said the regulator was “overwhelmed” at the response and amount of feedback to its transparency proposals, and that it is going to “really take our time” when considering any…
Biba 2024: Work from home being used as a ‘bargaining chip’ in luring broker talent
Work from home is being used as a ‘bargaining chip’ in the war for talent, said broker boss Shona Robertson.
‘Not right’: Biba CEO Trudgill reveals sad letter of small broker crushed by regulation
In his inaugural conference speech as Biba CEO Graeme Trudgill has vowed to fight the onslaught of regulatory workload being imposed on brokers.