Regulation
Why insurers should get ready for Dora rules now
With the Digital Operational Resilience Act coming into force on 17 January, Rowan Armstrong, partner at Browne Jacobson, says it is vital that UK-based insurers operating in the European Union embrace enhanced digital operational resilience testing,…
ABI’s Gurga hits top speed on motor insurance pricing
Hannah Gurga, director general of the Association of British Insurers, shares the work the trade body has been doing to help the government’s motor insurance task force accelerate into action and warns UK chancellor Rachel Reeves any increase to…
Wheels in motion for changes that benefit insurance customers
Following her attendance at inaugural meeting of the government's motor insurance taskforce, Rocio Concha, director of policy and advocacy at Which, shares her hopes for robust action from the regulator to make the sector work better for customers.
Big Interview: Kevin Spencer, Markerstudy Group
In his first interview since the completion of the £1.2bn merger between Markerstudy and Ardonagh’s Atlanta Group, Kevin Spencer sits down with Scott McGee to talk through the process of completing the deal, and how it allows his business to overtake…
General insurers share how the FCA fails to satisfy them
Three out of 10 general insurers question how effective the Financial Conduct Authority has been in regulating the financial services industry over the past year, according to a poll commissioned by the FCA Practitioner Panel.
FCA uncovers extent of sexual harassment in insurance
The Financial Conduct Authority has found that London market intermediaries had the highest relative proportion of reported incidents of sexual harassment compared with other surveyed sectors.
Why the government should examine how all insurance prices are set
James Daley, managing director of consumer group Fairer Finance, argues the government task force to tackle motor insurance should consider the way the entire general insurance market works.
Regulation widening modernisation gap between US and Europe
The US is lagging behind the UK and Europe in terms of modernisation, John Cheney, digital transformation sales lead at Charles Taylor InsureTech has told Insurance Post.
Greatest blows to insurance’s Consumer Duty report writers revealed
The greatest challenges faced by those involved in evidencing outcomes or writing their company’s Consumer Duty board report in July 2024 have been revealed by a Chartered Insurance Institute poll.
Why premium finance is like a teenager’s stinky socks
Editor’s View: Emma Ann Hughes reflects on the ramifications of the Financial Conduct Authority shifting from issuing warnings to kicking off a review of premium finance for home and motor insurance on Wednesday (16 October).
PRA chief admits losing Solvency UK ‘row’ with MPs
Sam Woods, CEO of the Prudential Regulation Authority, has admitted the regulator lost the “spectacular row” it had with the Conservative government over the Solvency UK reforms.
Allianz’s Thomas on how insurers can be sustainability change-makers
View from the Top: Bethany Thomas, head of sustainability at Allianz, says it’s time for the insurance industry to deliver on its sustainability ambitions.
Shares tumble following motor pricing and FCA action
In a repeat of what happened in January, the share prices of Admiral and Direct Line Group have taken a hit today as the Financial Conduct Authority and government announced action around motor insurance premium pricing.
Labour unveils motor insurance taskforce to crack down on costs
Labour transport secretary Louise Haigh has promised her party’s motor insurance task force will “crack down on spiralling costs” and deliver a “fair deal” for drivers.
FCA launches premium finance market review
The Financial Conduct Authority has launched a review of the premium finance market, alongside the launch of a government motor insurance taskforce.
What insurers should expect from Labour’s Budget
The impact tax changes in Labour’s first Budget in 14 years could have on the insurance industry is the focus of the latest Insurance Post Podcast.
FCA's Mills says Consumer Duty needn’t inhibit growth
Sheldon Mills, the Financial Conduct Authority’s executive director for consumers and competition, has insisted that the Consumer Duty is not the block to growth that some people think it is.
Why the FCA should slash red tape to save brokers
News Editor’s View: Scott McGee examines the impact of the Financial Conduct Authority’s Consumer Duty, debating whether the regulator's promise to reduce the weight of regulation is too little, too late for small brokers struggling as a result of red…
Why overseas capacity has become a concern for MGAs
Will Reddie and Bob Haken, partners at law firm HFW, explore the growing concern among managing general agents operating in the UK without capacity, which would put them in breach of regulations and runs the risk of criminal sanctions for both the…
How to meet the FCA’s expectations
Insurers need to be able to articulate the way they make money if they want to satisfy the Financial Conduct Authority, according to Michael Sicsic, founder and managing partner of Sicsic Advisory.
FCA claims Gap action will save consumers £70m
The Financial Conduct Authority has said consumers will save around £70m due to improvements firms must make to guaranteed asset protection insurance products.
Path forward after the FCA’s fair value review
After the Financial Conduct Authority’s damning thematic review into insurance products oversight and governance, DA Strategy associate director Pamela Grover-Morgan and consultant Szymon Binienda look at why firms are still falling short of expectations.
FCA remains ‘concerned’ about premium finance
The Financial Conduct Authority’s Sheldon Mills has said the regulator is still watchful and concerned about premium finance, but is encouraged that "progress has been made."
FCA responds to Sir Trevor Phillips questioning EDI delay
Financial Conduct Authority CEO Nikhil Rathi has said the Treasury Select Committee’s feedback on its diversity and inclusion proposals contributed to its decision to pause the work.