Financial Conduct Authority (FCA)
What prompted FCA checks on bullying in insurance?
Jeremy Irving, head of the financial services regulatory practice at law firm Browne Jacobson, considers what could have prompted the Financial Conduct Authority looking into non-financial misconduct in the insurance industry.
Insurance Post Power List 2024’s Top 10 Podcast
To find out who made it into the Top 10 of Insurance Post’s Power List for 2024, make sure you listen to the latest Insurance Post Podcast.
Sam Woods, Prudential Regulation Authority
In the run-up to a general election Sam Woods, chief executive of the Prudential Regulation Authority, has been clear it will be for the government, not regulators, to ensure insurers invest the dividends of forthcoming solvency reforms in the UK.
Matt Brewis, FCA
Matt Brewis, the Financial Conduct Authority’s head of insurance, is a man on a mission in 2024, which is why he has climbed to third place on this year’s Insurance Post Power List.
How many predators are lurking in the City?
Data analysis: Frances Stebbing investigates how movements against sexual harassment have shaped discussions to drive positive changes in the insurance industry.
Gain urges neurodiversity inclusion in FCA D&I plan
The Group for Autism, Insurance and NeurodIversity has called on the Financial Conduct Authority to include neurodiversity as a category in its diversity and inclusion proposal.
Biba’s Trudgill on working with the regulator
Trade Voice: Graeme Trudgill, CEO of the British Insurance Brokers’ Association, outlines how overtures between the trade body and the Financial Conduct Authority might ease brokers' uncertainty around regulation.
FCA warns against Tempcover clone targeting TikTok
The Financial Conduct Authority has issued a warning on fraudsters claiming to be FCA-authorised firm Tempcover, claiming to be the short-term insurance specialists on TikTok.
Trade bodies lambast FCA’s transparency plans
16 financial services trade bodies have warned the Financial Conduct Authority against any plans to publish details of future regulatory investigations before they reach their conclusion.
Could the FCA follow the Australian regulator’s claims lead?
After Australia’s financial regulator sent a letter to the country’s general insurance firms asking for improvement in claim handling practices, Vitesse’s CEO Philip McGriskin asks could the Financial Conduct Authority take a similar approach.
ABI unveils financial inclusion strategy
The Association of British Insurers has unveiled a financial inclusion strategy, which commits to addressing “unfavourable” premium finance practices and suggests exploring ways to subsidise motor cover for some drivers.
FCA to work with Big Tech on sharing data with insurers
The Financial Conduct Authority intends to examine how Big Tech firms’ datasets could unlock better insurance products, more competitive prices, and wider choice for customers.
Motor premiums fall for first time in over two years
Car insurance premiums have fallen by 5% during the past three months, according to the latest data from Confused.com.
FCA tells motor finance firms to hang onto cash
The Financial Conduct Authority has warned motor finance firms to keep hold of enough capital to deal with the results of its ongoing probe into discretionary commission payments.
FCA urges insurers to do more for tourists with health issues
A Financial Conduct Authority review of signposting rules for tourists with pre-existing medical conditions has raised concerns about fair value and concluded travel insurers can do more to help tourists with health issues.
Blog: How can insurers make like-for-like EV replacement vehicles a reality?
The variety and cost of vehicles makes credit hire replacement more challenging than ever, but replacing EVs doesn’t have to be the headache it once was, explains James Roberts, head of insurance sales at Europcar.
CII’s Connell on workplace bullying, discrimination and harassment
Trade Voice: Dr Matthew Connell, director of policy and public affairs at the Chartered Insurance Institute, outlines the everyday steps people can take to clean up company cultures.
FCA still unhappy with motor insurance valuations
Despite previous enforcement action, the Financial Conduct Authority has felt in necessary to issue motor insurers another warning against undervaluing written-off or stolen vehicles
Motor insurers warned about political and regulatory intervention
Motor insurers stand on the precipice of a possible explosion in complaints relating to essentials and value policies. And if the industry does not act it should be ready for political and regulatory intervention.
FCA to review how insurance claims are being handled
The Financial Conduct Authority intends to check claims handling response times, and whether insurers are doing enough to help customers in vulnerable circumstances.
ABI insists fire safety scheme is temporary
Mervyn Skeet, the Association of British Insurers’ director of general insurance, has outlined how the trade body will ensure the Fire Safety Reinsurance Scheme will only last three to five years, and how it will should end criticism of brokers earning…
Price of tower block insurance finally slashed
Insurance premiums for leaseholders waiting for combustible material to be removed from their blocks of flats could plummet by up to two thirds following the launch of the Association of British Insurers’ Fire Safety Reinsurance Scheme today (13 March),…
Consumer Duty will be a success ‘when we stop talking about it’
According to a panel at the Association of British Insurers’ annual conference, the Financial Conduct Authority’s Consumer Duty has a way to go before it is considered a success.
FCA moves to make enforcement quicker and more transparent
The Financial Conduct Authority has said it will carry out enforcement cases more quickly and has begun a consultation on plans to make its investigations more transparent.