FCA issues fair value warning amid government's flats insurance review order
The Financial Conduct Authority has written Dear CEO letters to insurers and brokers, putting pricing models, product fair value and commission in the spotlight after the government ordered a review into the "failing" insurance market for leaseholders.
Michael Gove, Secretary of State for Levelling Up, Housing and Communities, had called for the probe into the “crippling costs” of insurance premiums for residents of blocks of flats.
His letter was
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Commercial
ABI’s Gurga urges regulators to slash red tape
Hannah Gurga, director general of the Association of British Insurers, has urged the government and regulators to grab Alexander the Great’s sword and slash through the Gordian knot of regulation.
Close Brothers to seek consent to pay premium finance commission
From next week, Close Brothers will seek consent from commercial customers for the payment of broker commissions for premium finance.
Allianz Commercial MD Nadia Côté departs
Insurance Post can reveal that managing director of Allianz Commercial Nadia Côté is leaving the insurer with immediate effect.
Yet another exit at Allianz as Major heads to HDI
HDI Global has this morning announced the appointment of Allianz Commercial’s Tom Major as its chief claims officer for the UK and Ireland.
Reeves announces consultation on UK captives regime
Rachel Reeves has announced a consultation on a new approach to regulating UK captive insurers in her first Mansion House speech as Chancellor of the Exchequer.
Repair costs high as aviation sector grapples with ‘transformational stage’
The aviation sector is at a “transformational change” with new materials changing the profile of claims and pushing up costs, McLarens Aviation managing director Trehane Oliver has told Post.
How insurers are assisting with the energy transition
How insurers are enabling a “less volatile” transition away from fossil fuels is the focus of the second of two special Insurance Post Podcasts, to coincide with the 2024 United Nations Climate Change Conference, more commonly known as COP29.
QBE’s Chris Wallace on how insurers must support UK businesses in 2025
View from the Top: Chris Wallace, executive director at QBE Europe, believes service and regional focus are priorities at the heart of helping businesses through challenges in the year ahead.