Financial Services Authority (FSA)
Willis fined record £6.9m for FSA handbook breaches
UK insurance broker Willis, a subsidiary of Willis group holdings, has reached a settlement with the Financial Services Authority for breaches of the FSA Handbook.
Law Society: Professional indemnity renewals are still a problem
Lawyers have found it harder to get professional indemnity insurance this year with roughly one in three firms having problems, up from one in five last year, according to the Law Society’s PII survey.
GNL moves to create Takaful and Re-Takaful panel
New Shariah-compliant insurance broker GNL is planning to create a panel of insurers and reinsurers to work on Takaful and Re-Takaful commercial risk solutions.
“Priority” review of FSCS rejected by government
The government has not committed to reviewing the funding of the Financial Services Compensation Scheme as a priority.
Jonathan Swift elected co-ordinator of insurance’s APPG
At the annual general meeting of the All Party Parliamentary Group on Insurance and Financial Services, Jonathan Swift the group editor in chief of Post and sister title Insurance Age, was elected as the APPGIFS’ co-ordinator.
Lloyd's warns FSA over SII box-ticking
Lloyd's finance director Luke Savage has warned the Financial Services Authority against the perils of hiring "rookies" to approve businesses' internal capital models for Solvency II.
Broker focus - Biba/IIB merger: Let's get together
Following the initial flurry of excitement when Biba and the IIB announced they were in merger talks, Chinwe Akomah talks to the market about their hopes and concerns for new a single body.
FSA bans two brokers for misconduct
The Financial Services Authority (FSA) has banned two insurance brokers, Andrew Porter and Alexander Brincat, from working in the financial services industry.
Hoban addresses insurance community
This morning Mark Hoban, Financial Secretary to the Treasury gave a speech to the London 100 Group at the City of London Club.
Escott returns to London market as Capita MD
The former boss of Brit Insurance's UK business has returned to the London market commercial space with Capita. Brent Escott — who worked for the Lloyd's group between 2002 and 2007, holding the position of managing director of the UK division, before…
Ex-HSBC staff to support Capewell's venture
A team of former HSBC Insurance Brokers employees are poised to facilitate the launch of the new venture headed by Martyn Capewell, the chief executive of the bank's now defunct insurer arm.
News analysis - Regulation: The more things change
With detail emerging on what life under the Prudential Regulation Authority will look like, Mathew Rutter analyses the similarity of themes to the current approach and pinpoints potential problem areas.
Post history - Five years ago: Pay rises at FSA increase sharply
Looking back through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from five years ago reveals.
Regulation tops London market agenda
Uncertainty around regulatory issues - from the replacement of the Financial Services Authority to a global focus on the perceived systemic risks of the insurance sector - remain top of the agenda for London company market insurers.
FCA will be "tougher and bolder" than FSA
The Financial Services Authority has outlined how its successor body charged with conduct and market regulation will be “tougher, bolder and more engaged with consumers".
Insurance Age blog: What did you have for breakfast today?
I'm going to tell you something you don't know about me. Happy Gilmore is one of my all time favourite films. There are a variety of reasons why this is the case but one particular exchange never fails to make me chuckle.
Solvency II will be delayed because of 'lack of urgency'
The head of insurance at actuarial firm Barnett Waddingham has said Solvency II will be delayed because other European countries do not have the “same sense of urgency” as the UK.
FSCS announces board appointments
The Financial Services Authority has appointed Liz Barclay, Jayne Nickalls and David Weymouth as non-executive directors to the board of the Financial Services Compensation Scheme.
Editor's comment: Deadline decision time
It's not something a betting man would have ever wagered against but, as rumours continue to mount that the Solvency II implementation deadline will indeed be significantly pushed back, the UK insurance industry faces some difficult decisions.
Disgraced coverholder boss faces FSA fitness probe
The chief executive and director of a Financial Services Authority-approved coverholder faces having his status as a 'fit and proper' person investigated by the regulator, after admitting to child sex offences at Canterbury Crown Court.
Scepticism over future of regulation
Law firms have reacted with scepticism to the Financial Services Authority's paper on the future of regulation for insurers. This week the regulator released a joint paper with the Bank of England, outlining how the Prudential Regulation Authority — the…
ABI Conference: FSA and Eiopa clash over Bank of England role
The Financial Services Authority has clashed with the European Insurance and Occupational Pensions Authority over the Bank of England’s role in the regulation of the insurance sector.
ABI Conference: Single European insurance regulator likely "within years"
The European insurance industry will eventually be regulated by a single continental body rather than a number of country regulators, Eiopa’s Carlos Montalvo Rebuelta has claimed.
ABI Conference: Single European insurance regulator likely "within years"
The European insurance industry will eventually be regulated by a single continental body rather than a number of country regulators, Eiopa’s Carlos Montalvo Rebuelta has claimed.