Financial Services Authority (FSA)
Biba 2011: CEO Galbraith outlines need for client money solution
In his opening address at the British Insurance Brokers' Association 2011 Conference in Manchester, CEO Eric Galbraith, called on HM Treasury and the new Financial Conduct Authority to work together towards delivering the right regulation for insurance…
Barclays CEO in PPI apology as bank sets asside £1bn for claims
Barclays has decided that it will not participate in any application for permission to appeal against the High Court judgment of 20 April 2011, which dismissed the action brought by the British Bankers' Association regarding the assessment and redress of…
Lloyds Banking Group reports huge £3.2bn Q1 losses after PPI provision
Part-nationalised Lloyds Banking Group has recorded a statutory loss after tax of £3.47bn for Q1 2011 (Q1 2010: £721m), after the bank made provisions of £3.2bn for payment protection insurance payout costs.
Ancile MBO refocuses plans
A management buyout of personal lines intermediary Ancile Insurance Group was always the intention, according to its managing director.
Firms face ruin after court ruling
The insurance industry has been warned some firms could face ruin after a legal challenge to the Financial Services Authority's measures to deal with payment protection insurance complaints was rejected.
Bolt concern over charges
Bosses at Lloyd's insurers have received a letter from director of performance management Tom Bolt, addressing fears over extra broker remuneration charges.
Confusion over Solvency II as FSA revises model plans
Solvency II experts have voiced concerns over the uncertainty surrounding the incoming European Union legislation, after the Financial Services Authority revealed revised plans for its handling of internal model applications.
Directors jailed for £1m insurance fraud
Two directors at the centre of a £1m insurance fraud have been jailed for a combined sentence of 10 years at Southwark Crown Court.
Roundtable - Cloud computing: head in the clouds
The term 'cloud computing' is very much in vogue. Post gathered together technology and insurance industry experts to debate whether the industry is ready to seize the opportunities it can offer. Amy Ellis reports.
High Court backs FSA in PPI rulling
A High Court judgment has upheld the Financial Services Authority rules on how complaints into payment protection insurance are handled.
Only 12% believe Government FSA overhaul will meet 2012 deadline
Almost three fifths (58%) of insurance professional questioned by the Chartered Insurance Institute think that the industry’s needs have not been taken into account in the plans to overhaul the Financial Services Authority.
Biba: regulation is bigger burden than tax
The regulatory burden imposed by the Financial Services Authority (FSA) on the insurance broking sector is a greater competitive disadvantage than the amount of corporation tax it pays, the British Insurance Brokers’ Association has warned.
FSA confirmed to discuss the FSCS
The Financial Service Authority is set to discuss the future and funding of the Financial Services Compensation Scheme at an All Party Parliamentary Group on Insurance and Financial Services meeting.
Countdown to Biba 2011: the changing regulatory landscape
With the British Insurance Brokers' Association conference now less than four weeks away, Post and Insurance Age editor-in-chief Jonathan Swift sat down with the Biba CEO Eric Galbraith to discuss the issues which are likely to come to the fore in…
ABI issues regulatory overlap warning
The Association of British Insurers has warned that the new financial regulatory authorities could lead to dual regulation for its members.
Interview - Jonathan Evans MP: APPG - priorities, progress and provocations
Chairman of the All Party Parliamentary Group on Insurance & Financial Services Jonathan Evans talks to Mairi MacDonald about the group's priorities, progress and provocations.
Biba to continue petition despite FSCS fee reductions
The British Insurance Brokers' Association is to petition the House of Commons, raising its concerns about the funding model of the Financial Services Compensation Scheme.
News analysis - Provident Insurance: signed, sealed, delivered
The ink has just dried on the deal that sees ownership of Provident move from troubled US firm Ally Financial to French company Covea. Daniel Dunkley reports on what the future holds for the motor insurer.
Value of FSA fines trebles to £96.7m
The value of fines handed to businesses by the Financial Services Authority has trebled in one year from £33.1m to £96.7m.
Biba petitions House of Commons on FSCS funding model
The British Insurance Brokers’ Association has launched a member petition to be tabled in the House of Commons on the Financial Services Compensation Scheme.
FSA to debate FSCS fees after industry pressure
Jonathan Evans MP has confirmed the Financial Services Authority will discuss Financial Services Compensation Scheme fees with MPs, following pressure from the insurance industry.
Disease claims - ELTO: location, location, location
Difficulties inherent in identifying the relevant insurer in a long-tail disease claim led to the creation of the Employers' Liability Tracing Office. Anne Griffiths and Alan Hunter explain what is needed to make it work.
Aggregators join ABI and Biba in fraud fight - Insurance News Now – 7 April 2011
Post reporter Amy Ellis outlines this week's major general insurance stories including how aggregators have teamed up with the Association of British Insurers and the British Insurance Brokers’ Association in a bid to fight fraud.