Regulation
FCA staff back strike action in Unite ballot
Staff at the Financial Conduct Authority have voted in favour of striking over proposed changes to pay and conditions, the trade union Unite has announced.
Q&A: Mark Bower-Dyke and Crescens George, Wiser Academy
Insurance specialist learning provider Wiser Academy recently gained an ‘Outstanding’ award from Ofsted. Crescens George, CEO, and Mark Bower-Dyke, chairman, tell Post about the importance of formal qualifications to gain entry to the industry, and their…
Fears OIC portal is not meeting objectives as unrepresented claimants make up less than 10% of users
Latest figures from the Ministry of Justice show that unrepresented claimants still make up less than 10% of those using the Official Injury Claim portal, as concerns grow that portal is not meeting objectives of being “consumer friendly”.
Intelligence: Our duty to protect must begin now
Protect Duty legislation has been touted as a way to reduce the potential for catastrophic events from terrorist attacks at publicly accessible locations, and it is likely to affect public and employers’ liability polices. But, as Edmund Tirbutt reports,…
Nikhil Rathi pledges to make the FCA more assertive and quicker in stamping out wrongdoing and consumer harm
The Financial Conduct Authority has launched a three-year strategy to improve outcomes, with the CEO Nikhil Rathi pledging to make the regulator more assertive and quicker in responding to changing financial services sector.
FCA regulatory reforms no ‘silver bullet’ but step towards more nimble regulator
Regulation experts have praised the Financial Conduct Authority’s steps towards tackling authorisation delays but have warned they will not be enough to tackle the problem on their own.
Lords Committee expresses concerns of ‘overly demanding’ and ‘burdensome’ regulation of London Market
The Industry and Regulators Committee has written to the Economic Secretary to the Treasury John Glen to outline concerns about lack of proportionality in the regulation of the London Market by the Financial Conduct Authority and the Prudential…
Editor's comment: Walk the walk on ESG
Last August the Intergovernmental Panel on Climate Change report warned that ‘unless there are immediate, rapid and large-scale reductions in greenhouse gas emissions, limiting warming to close to 1.5°C or even 2°C will be beyond reach’.
FCA reforms authorisation process as it continues recruitment push
The Financial Conduct Authority has said it is committed to bring a more robust and efficient authorisation process and confirmed it has reformed its authorisation process with more decisions now taken by individual senior managers rather than by…
Allianz’s Catherine Dixon explains why we should all be on the path to Net Zero
Meeting environmental, social and governance targets should be a relay race, with each baton pass advancing the cause towards Net Zero, explains Catherine Dixon, chief underwriting officer at Allianz Commercial.
Analysis: How dual pricing reforms are shaking up insurance
Post investigates what changes the industry has seen following January’s dual pricing reforms, and if insurers are following the right path on price walking.
UK regulators are not 'lumbering' and should not mirror Bermuda, says Glen
Calls from the London market to reform the UK regulatory regime to more closely resemble that of, for example, Bermuda should be resisted, the Economic Secretary to the Treasury John Glen has said.
Robust e-scooter regulation needed at 'earliest opportunity', sector urges Shapps
Four insurance industry trade associations have called on the government to bring in 'robust' legislation around the use of e-scooters as soon as possible if they are to be permitted beyond current trials.
Data analysis: FOS insurance backlog tops 9000 cases
Freedom of information requests by Post and sister title Insurance Age have laid bare the scale of insurance case delays at the Financial Ombudsman Service.
Motion for mandatory leasehold buildings insurance commissions disclosure tabled in parliament
An early day motion naming Reich and calling for regulated firms to be required to disclose leasehold buildings insurance commissions has been tabled in the House of Commons.
Spotlight on dual pricing: Price matters but customers deserve more
The price walking ban represents a turning point for the insurance industry. Vincent Belloc discusses the opportunity for insurers to build customer loyalty and competitive advantage through a relentless focus on customer experience.
Spotlight on dual pricing: The end of dual pricing and what it means
Post and PayPal surveyed the industry to explore the possible implications of the recent price-walking ban. Valerie Hart looks for further insight into how the industry might adapt.
‘A sigh of relief’ for the industry as MoJ plans no further action on credit hire and rehabilitation
Self regulation has been heralded as the Ministry of Justice confirmed it will take no further action on credit hire and rehabilitation after publishing its response to part two of the whiplash reforms.
Insurance sector faces 'serious consequences' as Northern Ireland sets its discount rate at minus 1.5%
Industry experts have warned the insurance market could face "serious consequences" after the Northern Irish Government Actuary changed the personal injury discount rate to minus 1.5% from minus 1.75%.
Ageas' Adam Clarke on inflation pushing up insurance prices
With inflation at front of mind for everyone, Adam Clarke, chief underwriting officer at Ageas Insurance, explains why its only a matter of time before insurance customers feel the pinch too.
Citizens Advice sounds alarm on car insurance 'ethnicity penalty'
Citizens Advice has accused the insurance sector of charging an 'ethnicity penalty' after finding that people from ethnic minority backgrounds pay hundreds of pounds a year more for their car insurance than white people.
ESG Blog: Follow the Green Claims Code
Andrew Waddelove, head of sustainability at LV general insurance, looks at substantiating ESG claims, and considers what the Green Claims Code means for the insurance industry.
ESG Blog: On the trail of green regulation and reporting
With the new rules expected to come into force in 2022, which will make ESG reporting compulsory for big companies, Allianz's head of strategy and propositions Glen Clarke, considers what companies will need to do to account not just for their own…
ESG Exchange Q&A 2: How are insurers enabling their employees and partners to be green?
As part of our ESG Exchange fortnight, Post spoke to Ageas, Aviva, LV and Zurich to find out how insurers are thinking beyond their own firms and helping their employees, partners and their supply chain to adopt environmental, social and governance…