Regulation
FCA defends costs in relation to EU counterparts
The Financial Conduct Authority has disputed its costs are significantly more than other European Union regulators after a critical response from an insurance trade body to its fees and levies for 2015/16.
FCA commences investigation into Quindell as it suspends AIM trading
The Financial Conduct Authority has confirmed it is conducting an investigation into Quindell in relation to public statements made about the outsourcing company's financial accounts during 2013 and 2014.
Industry defends data collection practices in light of CMA report
Insurers have defended their data collection processes following the publication of a critical Competition and Markets Authority report and calls from a consumer champion for greater transparency around how telematics data is used.
Lure of Liechtenstein questioned as reports of insurer interest surface
The Liechtenstein financial regulator has flagged an uptick in insurance companies looking to establish a presence in the principality despite analyst scepticism about the benefit of the territory as an outpost for UK insurers.
Brain training: 10 things you need to know about...
...anti-bribery and corruption regulations
Video: ABI Huw Evans
Association of British Insurers director general Huw Evans tells Post senior reporter Katie Marriner what general insurance issue is top of his agenda.
Motor insurance sector data collection practices scrutinised by CMA
The Competition and Markets Authority has highlighted widespread concerns about the use of consumer data and a "fragile level of trust" over future methods of data collection in a report focusing on three sectors, including motor insurance.
Editor's Comment: Heeding the warning shot
Following the Financial Conduct Authority’s recent thematic review into delegated authorities, compliance experts have cautioned this is a warning shot across the bow.
GAP market faces shake-up after FCA competition remedy
Firms distributing guaranteed asset protection insurance in connection with the sale of a vehicle from 1 September 2015 will be required to provide customers with information to help them shop around following new rules published by the Financial Conduct…
Product ratings championed as alternative to claims ratios for add-ons
Legal expenses insurers have supported product ratings as an alternative remedy to publishing claims ratio information for add-on products, but only if the ratings are based on detailed and relevant criteria.
Alps pitches product ratings as alternative to FCA claims ratios
Auto Legal Protection Services has suggested broker training and product ratings as alternative remedies to the Financial Conduct Authority's claims ratio conundrum for add-on products.
C-Suite - Insurer: Pulling in the same direction
We all need to work together to provide clarity and give clients a fairer deal, says Amanda Doran, head of commercial combined, QBE.
FCA appoints Sicsic as GI retail department head
Aviva group risk director and Oric International chairman Michael Sicsic has been appointed general insurance retail sector department head at the Financial Conduct Authority.
FCA slams Lloyds Bank's ‘unacceptable conduct’ as it issues £117m PPI fine
Lloyds Banking Group today (05 June) received a landmark fine over its mishandling of Payment Protection Insurance Complaints.
Arc Legal supports FCA claims ratio re-evaluation
Legal expenses insurer Arc Legal Assistance has backed a move from the Financial Conduct Authority to consider alternative options to the requirement for insurers to publish claims ratio information for add-on products.
FCA reconsiders claims ratios for add-on products following industry backlash
The Financial Conduct Authority has backed down from its intention to require general insurers to publish claims ratio information for add-on products and plans to publish a discussion paper addressing alternative options in “the coming weeks”.
Mid-market 'forgotten' in industry claims processes
A mismatch between the relatively low rates paid by SMEs and their complex insurance needs has been identified as a key driver for the high levels of claims dissatisfaction reported by smaller businesses.
Despite summer inception Flood Re won't accept first policies until April 2016
Flood Re will not be ready to accept its first policies until April 2016 despite the scheme's systems and infrastructure being in place from summer this year.
Updated: Gallagher at risk of FCA penalty from s166 review
Arthur J Gallagher says it cannot rule out the possibility of being fined or penalised by the Financial Conduct Authority after a quarterly statement from the company revealed the regulator had called for a skilled person's review of parts of the broker…
Role of PCWs highlighted as insurers hit back against premium finance criticism
The Financial Conduct Authority has been accused of failing to address consumer buying behaviour in the findings of its premium finance thematic review, which singled out insurers and brokers for criticism.
C-Suite: India's foreign investor ownership controls
Seven years after the proposal was first muted, India has finally raised the foreign direct investment cap to 49%; a lawyer investigates how the ownership and control systems will work.
Biba: Manchester Lowdown
With 2015’s Biba Conference taking place in Manchester, Post asked industry movers and shakers in the region to give us the lowdown on the city and their thoughts on the industry over the past year
CILA reaps benefits of Asia tour with three alliances
The Chartered Institute of Loss Adjusters has formed three important alliances after two of its most senior members visited Asia.
Moorhouse issues apology over FCA findings
Moorhouse Group says it "deeply regrets" the findings of a Financial Conduct Authority investigation that resulted in a £159,300 fine for the company and has apologised to customers.