Regulation
FCA whistleblowing proposals to cost large firms £280,000
A Financial Conduct Authority consultation that would require insurers to implement formal whistleblowing procedures has an indicative annual cost of £280,000 for large firms.
Blog: ERRA Update - Scotland poised to reverse the impact of s69?
The Enterprise and Regulatory Reform Act 2013 came into effect over a year ago. Brodies solicitor David Hennessy looks at the Act's impact and a bill proposed to reverse its effects
Political Interview: Matthew Hancock: A positive relationship
In the countdown to the general election, Post caught up with Matthew Hancock, Minister of State at the Department for Business, Innovation and Skills, to find out his views on the insurance industry
Brain Training ...handling client money
The top 10 things you should know about handling client money.
SII insurer NEDs to face same regulation as banks
Changes to the banking industry's senior managers regime that affect non-executive directors are to be implemented for Solvency II insurers, the Financial Conduct Authority says.
Company policies failing to protect vulnerable consumers finds FCA
The Financial Conduct Authority has challenged financial services firms to develop new approaches to support vulnerable consumers.
UK-based multinationals face VAT hike after HMRC decision
UK-based multinational insurers face a hike in their VAT bill from 1 January 2016 following a ruling by HM Revenue and Customs.
Political Interview: Steven Woolfe: Woolfe at the door
With the UK Independence Party preparing to swoop for an unprecedented number of seats on 7 May, the party’s spokesman for Financial Services and Immigration Steven Woolfe tells Post what his party would do in power
Brokers welcome changes to 100-year old legislation as Insurance Bill gains Royal Assent
The British Insurance Brokers’ Association has welcomed the Insurance Act, which has today received Royal Assent.
Interview: Brendan McCafferty: Closing the floodgates
With just months to go until Flood Re is expected to be operational, CEO Brendan McCafferty gives Post a run-down of what he and his team need to achieve
IUA calls for clarity on individual responsibilities
The International Underwriting Association has called on UK insurance regulators to clearly state the prime authority of company boards over individual responsibilities for complying with industry rules.
India's Insurance Bill could open door for Lloyd's
Lloyd's is keen for India's long awaited Insurance Bill to be ratified by Parliament.
Towergate Financial facing £85m mis-selling bill
Towergate expects to pay up to £85m in redress costs for the mis-selling of two financial products to the end of 2012.
11 banks facing 2 million compensation bills over card protection product
Eleven banks and credit card issuers may be forced to pay compensation to approximately two million people over the sales of a card security product.
FCA launches fresh PPI complaints investigation
The Financial Conduct Authority has announced a new probe into complaints over the sale of payment protection insurance that may see it set a time limit for complaints.
IUA airs experience fears over PRA's new insurance lead
The International Underwriting Association has revealed concerns over a lack of insurance experience at the Bank of England after Sam Woods was named executive director of insurance supervision.
PRA names Woods as insurance supervision lead
The Prudential Regulatory Authority has named financial stability strategy and risk director Sam Woods as its new executive director of Insurance supervision, replacing Julian Adams.
Gibraltar to overhaul regulatory regime for financial services
Gibraltar's government and its Financial Services Commission have joined forces to develop a new regulatory framework for financial and professional services.
CPP CEO Escott warns brokers about PE snubs if they ignore regulation
Insurance businesses need to “embrace” regulation or face tough consequences if they continue their current “amateurish” practices. Not least the fact they will struggle to sell a business if their compliance is not up to scratch, says CPP's Brent Escott.
49 law firms enter PI cessation period
12 law firms have been forced to close their businesses after failing to obtain professional indemnity cover, the Solicitors Regulation Authority has confirmed, while 49 have yet to renew PI cover.
No FSCS compensation levy for GI brokers in 2015/16
General insurance brokers will not have to pay a Financial Services Compensation Scheme levy for costs associated with compensation in the next financial year.
Trade Voice: Biba sets out manifesto for 2015
The trade body reveals a 10-point plan for smarter, clearer and value for money regulation
Biba Manifesto 2015: Breaking news
The Post team brings you the breaking news on the British Insurance Brokers' Association's Manifesto 2015 as it launched at parliament on 19 January.
Video: Preparing for the Insurance Bill
Last year the government introduced the Insurance Bill to Parliament, with the aim of supporting the growth of Britain’s insurance industry and helping customers by updating the 100 year-old rules governing contracts between businesses and insurers.