Regulation
Interview: Heather Wheeler: Picking up the baton
Heather Wheeler MP has taken over as chair of the All Party Parliamentary Group for Insurance and Financial Services. She talks to Post about her leadership style and what issues are on the agenda
Europe: Navigating the European maze
The European Union is in a state of flux, with a new parliament elected and an overhaul of the commission adding to an already complex institution. Where does this leave the insurance industry?
FCA proposes changes to improve communication
The Financial Conduct Authority has launched a consultation about how the financial services sector can improve communication with customers.
ABI defends position on diverted profits tax after Insurer Nation criticism
The Association of British insurers has defended its actions on diverted profits tax after coming in from criticism from insurers.
The State of the Insurer Nation: Week One: Regulation
In the first report of a five-part series covering Post’s latest State of the Nation survey, Mairi MacDonald reports on how regulation of the insurance industry is viewed by insurance CEOs and managing directors and how they think it could work better…
Editor's Comment: The Down Under conundrum
I’m all for encouraging the global imports and exports trade and, over the years, us Brits have adopted several Aussie traditions – such as throwing shrimps on the barbie, Kylie, Foster’s, Uggs, and, my favourite, Hugh Jackman.
Industry urges for home-grown FCA appointment
Industry commentators have been left perplexed by reports that Financial Conduct Authority head hunters have approached Australian regulator Greg Medcraft about the top job, and have urged the regulator to choose a CEO who will take the time to get to…
Treasury reversal on ‘guilty until proven innocent’ regime welcomed
The Treasury has reportedly back-tracked on plans to introduce a ‘guilty until proven innocent' policy as part of a proposed new senior managers and certification regime in the financial services sector.
Editor's Comment: Never say never again
This week, the Economic Minister to the Treasury Harriet Baldwin reportedly accused claims management companies of having gotten “completely out of control”, as the government called for evidence to make good on its summer budget promise of looking into…
FCA to introduce ban on pre-ticked add-ons from April 2016
The Financial Conduct Authority will ban the sale of insurance add-ons via pre-ticked boxes from April 2016 after a consultation found that customers were overpaying by as much as £200m per year for additional products.
FCA mulling deadline for PPI complaints
The Financial Conduct Authority is to consult on the introduction of a deadline for consumers intending to make a payment protection insurance complaint.
Climate Wise CEOs call for more action to slow climate change
The leaders of 15 Climate Wise members have written to the governor of the Bank of England Mark Carney and the Prudential Regulation Authority for more collective action to reduce the risk of climate change impacting society and, ultimately, the…
FCA sees 13.6% drop in GI complaints
Complaints to the Financial Conduct Authority about general insurance and "pure protection", a group that includes payment protection insurance, decreased by 13.6% in the first half of 2015.
Editor's Comment: Time to shout louder
With the party conference season in full swing, insurers are hopeful that less government intervention, lower costs of regulation and a halt on the proposed insurance premium tax hike are areas the Conservative government might consider in its latest…
SRA urged by insurers to be tougher on solicitors facilitating fraud
High level talks between the Solicitors Regulation Authority and insurers are being arranged amid criticism of the legal watchdog’s ability and appetite to effectively regulate claimant solicitors suspected to be facilitating fraud.
Impact Forum: Lloyd’s takes no nonsense approach to cyber
The Lloyd’s market is tackling cyber head-on as it aims to reduce the risk for its syndicates, according to Nick Beecroft, emerging risk and research specialist at Lloyd’s.
AM Best Commentary: Feeling the pinch
A number of market conditions are placing increasing pressure on the UK non-life sector. What will insurers need to do in order to ensure profits remain strong?
FCA names Philippou as COO
Georgina Philippou has been named as the new chief operating officer at the Financial Conduct Authority.
Consumer panel urges FCA to establish company rating system
The Financial Services Consumer Panel has called for the Financial Conduct Authority to establish a rating system to help the public determine which financial services firms are likely to treat them well.
Kennedys warns government over Medco ‘gaming’
The Medco portal system of commissioning medical reports needs to be transparent and uncomplicated, and eliminate any incentives that encourage those acting for claimants to ‘game’ the process, international law firm Kennedys has told the government.
ABI urges MOJ to regulate MROs in Medco review
The Association of British Insurers is calling for the regulation of medical reporting agencies in its submission to the Ministry of Justice review of the operation of Medco.
Insurers remain at odds with Apil over whiplash figures despite talk of collaboration
Insurers have welcomed calls by the president of the Association of Personal Injury Lawyers for greater collaboration, but have roundly rejected his argument that whiplash claims are on a downward trajectory.
Claims Club: FCA considering 'best practice' plea from insurers on SME cases
A senior regulator has conceded that in order for the Financial Conduct Authority to differentiate itself from its predecessor it might need to listen to insurance companies' pleas to issue ‘best advice’ on dealing with SME claims.
Claims Club: Insurers must act to help shape the future of CMC regulation
Insurers have been given a “three to four month” window to shape the future of claims management company regulation, Claims Club members have been told.