Regulation
FCA promises more speed and transparency on enforcement cases
The Financial Conduct Authority has committed to carrying out enforcement cases more quickly as it opened a consultation on a “step change” in being more transparent when opening an investigation into a firm.
Blog: How brokers can help clients prepare for the next wave of cybersecurity regulation
Brokers can’t afford to be mere bystanders in understanding the upgraded cyber rules of GDPR, and the benefits and process involved in being SOC 2 compliant. Simon Hughes, VP and general manager at Cowbell, explains.
FCA survey outlines broker Consumer Duty performance and room for improvement
The Financial Conduct Authority has released the findings of a survey of 634 mainly SME firms, including 82 personal and commercial lines intermediaries, on compliance and action taken in response to the Consumer Duty.
Brokerbility becomes first network to join Insurtech UK
Brokerbility has become an associate member of Insurtech UK, the first broker network to join the community.
How AI can help brokers overcome the fear and frustration of compliance in 2024
With compliance costs on the up, brokers need all the help they can get to address this regulatory burden. FullCircl's Ashleigh Gwilliam, and David Sparkes of the British Insurance Brokers’ Association, outline the benefits of a data-drive approach to…
GI & Protection accounted for 4% of FCA financial promotions cases in Q4
The Financial Conduct Authority intervened to get 10,008 financial adverts and other promotions withdrawn or changed in 2023, a year-on-year rise of 17%.
All FCA authorisation metrics out of red zone
No Financial Conduct Authority authorisation metrics were rated red in the third quarter of 2023/24, with brokers also seeing an improvement in most key areas affecting the sector.
GAP insurers suspend sales after FCA concerns on fair value
Insurers covering 80% of the guaranteed asset protection market have agreed to pause sales after a request from the Financial Conduct Authority, the regulator has confirmed.
House of Lords call for urgent reform of UK regulators
A House of Lords committee has raised concerns over the role of UK regulators, and claimed reform is needed to improve accountability and performance.
Prosura hits £3m GWP in a year
Prosura has already reached £3m gross written premiums, according to Jon Newall, managing director, since it began trading at the beginning of 2023.
Buying or selling an intermediary: Lessons from the front line part 1 – finance and regulation
In the first of a three-part series on broker M&A, Will Lanyon, partner in PKF Littlejohn’s transaction advisory team, examines the financial and regulatory issues broker leadership teams should consider during acquisitions.
Politics and future of trading lead Liiba’s 2024 agenda
Politics, artificial intelligence and the campaign to get underwriters and brokers back into the Lloyd’s underwriting room lead the London & International Insurance Brokers Association’s 2024 agenda.
David Perry targets 15% growth for FSBIS per year
David Perry, CEO of FSB Insurance Service, told Insurance Age that the company is eyeing 15% member policy count growth per year and continual team development.
Biba unveils ‘Managing risk for growth and economic security’ theme for 2024 manifesto
The British Insurance Brokers’ Association has called for a proportionate regulatory framework that can facilitate growth as it unveiled its 2024 manifesto, ‘Managing risk for growth and economic security’.
Insurance leaders upbeat on start to 2024 but inflation and interest rate worries remain
Almost four out of five senior insurance executives (79%) are optimistic about business growth this quarter, according to research by KPMG UK.
Review of the Year 2023: Sicsic Adivsory’s Nadege Genetay
Nadege Genetay, partner at Sicsic Advisory, risks hate mail by citing the FCA action on multi-occupancy building insurance as her highlight of 2023 and predicts some brokers might move away from commission to remuneration based on work performed.
Blog: Paul Tasker on brokers’ anti-money laundering responsibilities and actions
Paul Tasker, CEO of Reg Technologies, sets out responsibilities and a ‘must do’ list for brokers to deliver their crucial role in the fight against money laundering.
Broking Success: Reputation and referral key to growth
Blackford Insurance founder and managing director, Tom Aldridge, is looking to double the business in the next five years.
FCA warns of Axa clone
The Financial Conduct Authority has warned of a clone claiming to be Axa Insurance UK and Axa Investment Managers UK.
FCA authorisation performance dips in Q2 2023
The Financial Conduct Authority has seen its authorisations performance in four out of five categories affecting brokers slip backwards in Q2 2023.
Blog: As Amazon ramps up drone deliveries, brokers should take note
Amazon’s foray into drone deliveries is creating an insurance market brokers should not ignore, according to Moonrock founder and MD Simon Ritterband.
Biba welcomes Afolami as Economic Secretary to the Treasury
Biba has welcomed the appointment of Bim Afolami, and expressed hopes of a positive relationship while praising predecessor Andrew Griffith.
What does it take to be a broker NED?
Broker non-executive directors need to have excellent communication skills, bucket loads of experience, and be mindful of conflicts of interest, experts tell Ida Axling.
FSCS open for claims against failed broker
The FSCS has listed FML Insurance Services Limited, trading as Entertainment Insurance Services, as a failed company.