Financial Services Authority (FSA)
Payment Protection Insurance: Ringing the changes
Could a redrawing of the Financial Services Compensation Scheme boundaries save brokers from a repeat of the adverse financial impact of the payment protection insurance mis-selling scandal?
Keelan Westall boss upbeat despite parent firm slipping into the red
Keelan Westall has claimed that the firm is beating its own growth targets, despite its parent company's latest financial results revealing that it has slipped into the red.
Outsourcing: Shall we take this outside?
The multi-billion pound business process outsourcing industry is gaining favour with the insurance industry - and it is about much more than just offshore call centres
Editor's comment: Regulation and revolving chairs
Anticipated it may have been, but last week's European call for compulsory commission disclosure has understandably left UK brokers aggrieved.
Hyperion talk turns to integration as Windsor deal is given regulatory approval
Hyperion has pushed through the acquisition of Lloyd’s broker Windsor after receiving regulatory approval.
Changes to client money rules pose threat to unprepared brokers
Brokers that lack the necessary tools to handle compliance changes will struggle if proposed rules governing client monies are implemented by the Financial Services Authority, according to insurance software specialist Sequel.
CII awards industry veterans for commitment to insurance
The Chartered Insurance Institute has honoured Dr Peter Williams and Graham Doswell with the President's Award for dedication, commitment and professionalism.
Loss adjusting: A standards issue
Direct regulation of loss adjusters has been on the agenda for more than a decade but, with Europe ready to step in, is the industry prepared to be governed by forces on the continent?
Your say: Another layer of bureaucracy?
Much opinion has been expressed on the subject of the regulation of loss adjusters, unfortunately often by people with vested interests, says Chris Hall.
FSA kept budget spending down, annual report reveals
The Financial Services Authority deliberately underspent on its annual budget as it was “very conscious of the need to control costs, particularly given the difficult environment that firms are operating in”.
Griffith-Jones appointed non-exec chairman of incoming FCA
KPMG chairman John Griffith-Jones will join the FSA board on 1 September as non-executive director and deputy chairman, before becoming non-executive chairman designate of the soon-to-be-introduced Financial Conduct Authority.
FSA to end client exposure and abolish unclear risk transfer agreements
The Financial Services Authority is to publish a consultation on changes to its client money rules around risk transfer by the end of this month, in a bid to abolish ambiguous insurer agreements.
Editor's comment: The best of British
The timing could hardly have been more apposite. As the Queen sat selecting outfits to commence four days of Jubilee celebrations, Hyperion was preparing to toast its very own regal rejoice: six months after news first leaked of its takeover talks with…
CILA could play regulatory role if Insurance Mediation Directive is passed
The Chartered Institute of Loss Adjusters could change its remit to become a regulator if leaked European regulation to oversee the industry is introduced, according to its president Simon Burley.
FSA authorisation time for new firms still on the up
The amount of time the Financial Services Authority takes to approve new firms has risen for a third consecutive quarter, according to data seen by City law firm Reynolds Porter Chamberlain.
FSA hits back at Solvency II gold-plating concerns
The Financial Services Authority has hit back at criticism that it is gold-plating regulation and adopting an "audit approach" to Solvency II, claiming it is ensuring that all the directive requirements are met.
ABI boss warns of unco-ordinated regulation rush in push to twin peaks
The insurance market has been warned that there is a "danger" of regulation being rushed through, as a number of unanswered questions remain in the run up to new financial regulation next year.
Nationwide slams CMCs as PPI wipes £103m from balance sheet
Nationwide has backed calls for tighter regulation of claims management companies after setting aside £103m to meet the cost of payment protection insurance claims.
Opening the Takaful market
Initial forays into the Takaful market in the UK have so far met with failure. Despite this, there is still a conviction that a relevant Takaful market exists.
"Dishonest" broker banned for second time
A broker who was barred from operating within Lloyd's more than a decade ago has now been banned from performing any regulated functions by the Financial Services Authority, after acting as the director of an Essex-based insurance broker without…
Bluefin boss joins campaign against mandatory commission disclosure
Bluefin boss Stuart Reid has thrown his weight behind a campaign to stop mandatory broker commission disclosure being forced on the industry by Eurocrats, claiming that just 50 of its clients have asked for commission disclosure in the past year.
Top 10 news stories
The top 10 most popular articles published on insuranceinsight.com over the past seven days.
EC could force mandatory commission disclosure, warns Biba
The British Insurance Brokers' Association has said that the revision of the Insurance Mediation Directive could result in mandatory disclosure of commission for the insurance industry by 2019 along with an increase in the regulatory cost burden.
Post Broking Supplement: The big issues for brokers
With the British Insurance Brokers' Association conference looming, brokers are warming up for the networking event of the year and their best opportunity to thrash out market issues. Post caught up with some of the biggest hitting national players to…