UK
Lloyds Bank fined £90.7m for misleading customers in home insurance renewal letters
Lloyds Bank has been fined £90.7m by the Financial Conduct Authority for failures in home insurance renewal letters between 2009 and 2017.
PFS Solo activists call for fast release of CII AGM votes breakdown
Seven members of the PFS Solo campaign group have written to Sian Fisher, CEO of the Chartered Insurance Institute, calling for the voting details of the annual general meeting to be released this week.
Stuart Forsyth describes 'hellish experience' as Upper Tribunal overturns fine and ban by ruling against FCA and PRA
Stuart Forsyth, the former CEO of Scottish Boatowners Mutual Insurance, has called on regulators to “learn from the errors they made in my case and work to restore the faith of regulated professionals” as the Upper Tribunal overturned his fine and ban.
Insurers not bitter for time and costs lost after green card uturn as motorists will benefit
UK insurers that have issued 'thousands' of green cards and created portals and communications to allow UK motorists to continue to drive abroad after Brexit have supported the proposals to remove green cards despite the money already spent.
Pool Re launches advisory panel to explore public-private collaboration on systemic risks
Pool Re has launched an advisory group to develop recommendations for how the insurance sector can work together with the wider private sector and public sector to guard against systemic risks such as climate change and cyberterrorism.
FCA delays to approving c-suite broker roles slammed as outrageous
Compliance experts have advised brokers to add time into their recruitment plans for c-suite positions to account for “backlogs” in the Financial Conduct Authority’s approval process as one leading broker hit out at the “ridiculous” delays.
Arc Legal and LIM replace Das on Lloyds Banking Group’s home insurance LEI
Exclusive: Arc Legal Assistance and sister company Legal Insurance Management have won the race to provide family legal protection cover for Lloyds Banking Group’s home insurance customers under the Lloyds Bank, Halifax and Bank of Scotland brands, an…
Aon and Willis Towers Watson antitrust court date set for November
Aon and Willis Towers Watson have been given a November date for the start of their antitrust trial against the US Department of Justice, which has objected to the proposed merger.
Ever Given due to leave Suez Canal today after insurance agreement reached
MV Ever Given, which blocked the Suez Canal for a week in March, is due to leave today after a deal was struck between the UK P&I Club and the canal authorities.
My Other Life: Greg Brash, smallholder
When he’s not working as a manager in procurement at Allianz Insurance, Greg Brash feeds his passion for sustainable for living by growing his own food.
Insurers urge government to revise height-based remit of proposed building safety regulator
Insurers have repeated their calls for the scope of the proposed building safety regulator to be broadened after the government pushed ahead with proposals that met with criticism last year.
Treasury confirms 'strong case' for Solvency II reforms to free up resource and allow UK insurers more flexibility
The government is planning to bring forward reforms to free up resource on insurers’ balance sheets and allow insurers more flexibility around investments as it rewrites the UK’s Solvency II regime.
FCA broker c-suite approval times soar with CEOs waiting 151 days for sign-off
The average time taken for the Financial Conduct Authority to approve CEO applications from brokers has nearly tripled from 57 days in 2019 to 151 days this year, a Freedom of Information request by Post has revealed.
Partners&’s Stuart Reid on what the rapid pace of broker consolidation means for insurers
Stuart Reid, chair of Partners&, urges insurers to look for brokers that espouse the right values in their service to clients when considering which firms to support rather than being addicted to market share.
Tesco Underwriting recruits ex-Saga and Broker Network boss Gary Duggan as interim CEO
Tesco Bank has appointed Gary Duggan as interim CEO of Tesco Underwriting and interim chief insurance officer of Tesco Bank.
FCA ‘Dear CEO letter’ warns brokers about client money amid concern of widespread non-compliance
The Financial Conduct Authority has issued a stark warning to brokers about client money shortcomings it has seen in the market stressing that it will take action.
Intelligent AI appoints ex-RSA leader Neil Strickland as CCO
Insurtech Intelligent AI has appointed Neil Strickland, former customer experience director at RSA, as chief commercial officer.
Google reveals FCA authorisation ad rule to target scammers
Google’s decision to only allow regulated firms to place financial services adverts targeting UK consumers has received a measured response from the Financial Conduct Authority, while a law firm has warned the devil will be in the detail.
Aviva tops inaugural ESG scoring index
Aviva achieved the best environmental, social and governance sentiment in the first quarter of 2021, according to a new benchmark from business intelligence firm Alva.
MS Amlin Underwriting appoints James Maxwell as interim CRO
MS Amlin Underwriting has recruited James Maxwell as interim chief risk officer to replace Vishal Desai who is leaving the company for personal reasons.
Samengo-Turner appointed Marsh UK specialty CEO as Moody moves to Guy Carpenter
Dominic Samengo-Turner has been appointed CEO of Marsh specialty UK and Ireland replacing Paul Moody who is moving to become UK CEO of Guy Carpenter.
CII AGM resolutions pass but organisation declines to hold no confidence vote
The Chartered Insurance Institute opted not to put two motions to members at its annual general meeting yesterday that called for a halt to the implementation of the 2016 strategic manifesto and for a vote of no confidence in CEO Sian Fisher.
Peter Blanc elected CII president
The Chartered Insurance Institute has named Aston Lark CEO Peter Blanc as president for 2022.
Ecclesiastical’s Richard Coleman on the power of specialism
Richard Coleman, UK managing director at Ecclesiastical Insurance, details the opportunities and challenges for brokers in becoming trusted, specialist advisers.