Regulation
SME customers focus of FCA review
A Financial Conduct Authority review of broker conflicts of interest will focus on SME and micro-business customers, it was announced today.
Add-ons: Into the mist
The Financial Conduct Authority’s investigation into add-ons threatens to create fault lines between the industry and the public. Is the sector’s house in order or is a clean up needed?
FCA to investigate broker conflicts of interest
The Financial Conduct Authority is launching a thematic review into broker conflicts of interest.
Tribunal upholds FCA ban and £150 000 fine on broker Jeffery Flanders
The Upper Tribunal has upheld the decision of the Financial Conduct Authority to ban Andrew Jeffery, director of Jeffery Flanders (Consulting), and fine him £150 000 – one of the largest fines imposed on a broker for insurance fraud.
Government responds to Water Bill draft
The government has issued a response to the Environment, Food and Rural Affairs Committee’s pre-legislative scrutiny of the draft Water Bill.
Unrated insurer problems force SRA to reinvestigate stance on financial stability vetting
The Solicitors Regulation Authority is to re-investigate if it should introduce financial eligibility criteria following recent problems with unrated insurers including Quinn, Lemma and more recently Balva.
Property industry supports ‘long-awaited’ universal flood solution
The British Property Federation has welcomed the universal flood cover that the confirmation of a flood agreement between the insurance industry and government will bring.
Government to extend regulatory powers over insurers and seek EC approval for Flood Re
The government is seeking new legal powers enabling it to force insurers to cover "their share" of policyholders living in high flood risk areas.
Flood Re wins out as government and insurers reach long-term agreement
The government and insurance industry have reached a long-awaited agreement over the future of insurance for properties at risk of flooding when the Statement of Principles expires at the end of July.
Some mobile phone insurance policies are poor and unclear says FCA
The Financial Conduct Authority has published a review into mobile insurance which found evidence or poor product design, unclear terms and inadequate claims and complaints handling.
Post magazine - 27 June 2013
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Insurers urged to develop telematics as young driver green paper delayed
Insurers frustrated as Department for Transport announces hold-up.
Tax-avoidance crackdown could see PI insurers hit with third-party claims
HMRC tax workaround enquiries focusing on individuals as well as corporations.
View from the Top: Three’s the magic number for FCA
Principles, accountability and proportionality are the essential elements for effective industry regulation, says Peter Hubbard, Group chief executive, UK General Insurance.
ABI hits back at Law Society over PI campaign
The Association of British Insurers has criticised the Law Society’s advertising campaign for personal injury, which features the strapline “Don’t get mugged by an insurer – use a solicitor.”
Ferma elects four to board
The Federation of European Risk Management Associations has named four board members at its general assembly.
Four members elected to Ferma board
The Federation of European Risk Management Associations has elected four board members at its general assembly.
Court summons for speeding on the rise
The number of drivers summoned to court after being caught speeding increased by 10% in 2012, the equivalent of 1 000 drivers a week.
Insurance communications Bill passed in Australia
The Insurance Contracts Amendment Bill 2013 has passed through the Australia Senate. According to the Insurance Council of Australia, the Bill will help give insurers more certainty when communicating with customers electronically.
IASB Insurance Contract proposals are welcome starting point
The revised draft of the International Accounting Standards Board’s Insurance contract proposals goes a long way towards addressing the concerns raised by insurers since the original draft in 2010, Insurance Europe said today.
IASB revised exposure draft is "major milestone" for insurers
The publication of the International Accounting Standards Board’s revised exposure draft marks major milestone toward global reporting consistency for insurers, according to consultancies PwC and Ernst & Young.
EU collective redress mechanisms open to abuse says Ferma
The collective redress mechanisms recommended by the European Commission could be an open door for abuse according to market insiders.
Helphire to resume dividend payments following High Court order
Helphire Group has been granted permission to resume paying dividends by the High Court.
Post Audio Supplement - 20 June 2013
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