Analysis: How regulation could clip the wings of CMCs
In six months’ time, claims management companies will fall under the umbrella of the Financial Conduct Authority.
The prospect of much tighter regulation for the freewheeling industry, in addition to a ban on cold calling and new rules to prevent claims bosses from avoiding fines, mean the net is tightening on
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Regulation
LexisNexis develops check to address ‘squeeze on consumer finances’
LexisNexis has started to offer insurance providers predictive credit reporting and affordability solutions, in the aftermath of the industry’s premium finance issues.
Greenwashing risks and the path to real progress
As the 2024 United Nations Climate Change Conference, also known as COP29, begins Damisola Sulaiman explores the unique greenwashing risks the insurance industry faces, how those risks can be mitigated and the challenges faced in proving sustainability claims.
Green hushing: Why insurer silence isn’t golden
Louise Findlay-Wilson, managing director of financial services PR specialists Energy PR, discusses green hushing and its ramifications for the insurance industry.
FCA bans and fines broker £1.1m for misusing funds
The Financial Conduct Authority has banned Leigh Mackey from working in financial services and fined him £1.1m for misleading the FCA and misusing funds due to insurers.
FCA’s Brewis urges use of sandboxes to aid innovation
The Financial Conduct Authority’s director of insurance, Matt Brewis, has urged the insurance industry to utilise the regulators innovation sandbox, because it wants to work together with the industry to facilitate innovation.
FCA takes trio to court for arranging vacuum cover
The Financial Conduct Authority has started criminal proceedings against three individuals accused of arranging insurance cover for vacuum cleaners without the regulator’s permission.
FCA re-opens commercial lines rules consultation
The Financial Conduct Authority has “partially re-opened” its consultation about overhauling rules for commercial lines and bespoke insurance, in a bid to get more data from providers and brokers.
How the FCA could address premium finance failings
Marc Maxfield, risk and regulation expert at PA Consulting, explains what steps the regulator could take to reduce profiteering from premium finance plus how insurers should prepare for the watchdog's probe now.