Regulation
Blog: New AR rules should be business as usual
Momentum's Howard Pepper discusses what the FCA's AR consultation means for the broking sector.
Staff to vote on strike action against FCA
FCA told Insurance Age that after considering the recent feedback on its pay and rewards proposals, it now aims to announce an outcome by March.
Lords starts hearing evidence in insurance market regulation inquiry
The House of Lords Industry and Regulators Committee kicked off its investigation which focuses on the commercial insurance and reinsurance market on 14 January.
Review of the year: Covéa's Sue Coffey
Coffey discusses how the industry has risen to the challenge and worked together to navigate a difficult period while preparing for "significant" changes in regulation.
Blog: Industry trends to look out for in 2022
Adrian Saunders, commercial director at Ecclesiastical Insurance, shares his predictions for the broker market in 2022.
Year in Review: Seàn Kemple, Close Brothers
Close Brothers MD Seàn Kemple reflects on the challenges brought on by 2021 and discusses the implications of the hard market for the broker space.
Review of the year: Axa's Jon Walker
The CEO of of Axa Commercial looks back at a year of broker consolidation and discusses regulatory developments and sustainability.
Mixed response to latest FCA AR review
Experts welcome oversight but some feel the focus on commercial broker ARs has “little relevancy” and call for a “proportionate” outcome.
News analysis: Regulation and Gibraltar - is it The Rock of vanities?
David Worsfold investigates how insurer regulation in Gibraltar has changed following ten years of insurer failures.
FOS plans to increase levy by £10m
The regulatory body will ask firms for £106m as it flags increase in motor and pet insurance complaints but PPI comes to a close.
Opinion: Remote working – what the FCA expects
PKF Littlejohn’s Richard Willshire explores how Financial Conduct Authority rules could impact on home and hybrid working
FCA to introduce consumer duty to drive “fundamental shift” in industry mindset
The regulator has launched a consultation on the duty, which was first flagged in May this year, as it seeks to increase consumer protection and tackle harm.
Kroll reverses “reckless” MCE MTA decision
The administrator will now allow the provider to process mid-term adjustments.
MCE: Edwards hits out at administrator over MTA u-turn
MCE Edwards says he is “ashamed of the profession” and warns that the decision could impact vulnerable customers.
HMRC flags potential code of conduct for brokers in IPT consultation update
Government outlines the next steps and details responses from industry stakeholders, including brokers, insurers and trade bodies.
Blog: Is the industry falling in love with GAP insurance again?
Avid's Steve Duxbury discusses how the market for GAP insurance has changed since the FCA's 2015 thematic review and argues that it is set for accelerated growth.
FCA reforms decision-making to tackle consumer harm
The “sensible streamlining” changes are designed to improve the speed and allow FCA senior managers to start civil and crimimal proceedings, cancel permissions and address individual authorisation.
Gibraltar regulator denies accusations from MCE
MCE criticised the regulator earlier this week after its Gibraltar-based insurance arm went into run-off.
MCE slams Gibraltar regulator after insurer arm goes into run-off
MCE condemns GFSC for applying capital add-ons on its Gibraltar-based insurance company, which went into run-off on 5 November.
FSCS confirms MCE Insurance Company has failed
The Gibraltar-based business went into run-off on 5 November, citing difficulties with Solvency II, while the UK-headquartered division of the company has signed a fresh capacity deal with Sabre.
FSCS postpones retail pool contribution in levy update
Biba welcomes the move as brokers were previously expected to contribute £60.9m to the retail pool for the financial year 2021/22.
Regulation roundup: Fair’s fair
Biba’s David Sparkes shines the spotlight on fair value and vulnerable customers in our new quarterly examination of the regulatory landscape
Broker Expo: How to tackle PI
Panelists shared their views on increased regulation, getting adequate cover, and the difficulties and future of the PI sector.
Regulatory framework review draws mixed reactions from trade bodies
Mixed responses from trade bodies as the government sets out proposals for adapting the UK regulatory framework for financial services post-Brexit.