Regulation

EU action applauded by Biba

The British Insurance Brokers’ Association today welcomed the European Commission’s decision to launch proceedings against the 10 EU member states yet to implement the Insurance Mediation Directive.

CII: FSA approved persons proposals are flawed

The Chartered Insurance Institute (CII) says it opposes Financial Services Authority (FSA) proposals to remove customer controlled functions from the regulatory regime. The CII emphasised the need for direct regulation of individuals dealing with…

Exeter capped liabilities on shared care

Specialist Private Medical Insurer, Exeter Friendly Society has announced that it has capped the liabilities on its co-payment plan, Shared Care. Exeter made these changes following feedback from both intermediaries and its members.

IIB calls foul over FSA proposal

The Institute of Insurance Brokers said today it was "extremely alarmed about proposals the Financial Services Authority is making, which, if adopted, would have the effect of depriving consumers of vital information when dealing directly with insurers."

Annual Conference and Round Table - The need for change

There is an urgent need for the UK claims process to make some fundamental changes to the way it works as cases are inefficient and costs are then passed on to policyholders. Terry Renouf looks at several ways these changes should be implemented

Biba slams FSA proposals

The British Insurance Brokers’ Association has today announced that is has serious concerns regarding a number of the proposals contained in the FSA’s recently issued Quarterly Consultation Paper.

FSA wants improvement in general insurance documents

A Financial Services Authority (FSA) survey has found many insurance companies are not yet fully complying with the regulator's rules on the provision of disclosure documents to customers. The work involved reviewing the content and format of more than…

Lloyd's boss Prettejohn quits

Prudential this morning announced the appointment of Lloyd's CEO Nick Prettejohn as chief executive of its UK Insurance Operations. He replaces Mark Wood.

FSA provides Basic Advice

The Financial Services Authority (FSA) has published a guide on Basic Advice in the form of a question and answer (FAQs) brief covering a number of questions that have arisen since the regime began.

CJC - report on costs and improving access to justice

The Civil Justice Council earlier this week published a report on improved access to justice - funding options and proportionate costs. It has made 21 recommendations, summarised below. However to download a PDF of the consultation document: click here

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