Financial Compensation Scheme (FSCS)
FSA appoints non-exec director for FSCS
The Financial Services Authority has appointed Paul Stockton as non-executive director to the Board of the Financial Services Compensation Scheme with effect from 1 December 2011.
Merged trade bodies to fight for
A campaign to secure a more cost-effective regulatory environment for thousands of brokers will form the basis of the “historic” merger between the British Insurance Brokers’ Association and the Institute of Insurance Brokers.
FSCS funding review ro recommence as brokers push for separation
Brokers could secure separation from insurers and bankers as early as April 2013, with the British Insurance Brokers’ Association focusing its efforts on the reopened Financial Services Compensation Scheme funding review.
Lloyd's & London market - Compliance burden: The cost of compliance
With the UK the most costly European country for regulation, could UK-domiciled Lloyd’s and London market brokers really become an endangered species?
Ecclesiastical shakes up property owners market with Crown Estate win - Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories including news that new entrant Ecclesiastical has shaken up the property owners market by winning a multi-billion pound portfolio belonging to The Crown Estate, as…
FSCS should be part of EU-wide body, says EIOPA
The EU should fund closer cooperation between the UK’s Financial Services Compensation Scheme and similar insurance guarantee schemes in all EU countries, the European Insurance and Occupational Pensions Authority has said.
FSCS funding back under the spotlight
The Financial Services Authority is restarting its review into the funding of the Financial Services Compensation Scheme.
British Insurance Awards 2011: Tough talk
In a hard-hitting opening address, Jonathan Swift reflected on a tough year - but urged the industry to celebrate its achievements and look forward to the coming year.
“Priority” review of FSCS rejected by government
The government has not committed to reviewing the funding of the Financial Services Compensation Scheme as a priority.
IIB calls for FSCS review after 900% levy increase
The Institute of Insurance Brokers has presented research to the All Party Parliamentary Group on Insurance and Financial Services showing that brokers with an income of £500 000, £1m or £5m have seen their Financial Services Compensation Scheme fees…
Jonathan Swift elected co-ordinator of insurance’s APPG
At the annual general meeting of the All Party Parliamentary Group on Insurance and Financial Services, Jonathan Swift the group editor in chief of Post and sister title Insurance Age, was elected as the APPGIFS’ co-ordinator.
FSCS announces board appointments
The Financial Services Authority has appointed Liz Barclay, Jayne Nickalls and David Weymouth as non-executive directors to the board of the Financial Services Compensation Scheme.
FSA refuses to back down over FSCS review timing
The Financial Services Authority has refused to commit to an April 2012 deadline for a review of the Financial Services Compensation Scheme, as it would be "counterproductive" to consult when changes to European insurance legislation are ongoing.
FSA refuses to commit to April 2012 FSCS review deadline
Speaking at a meeting held by the All Party Parliamentary Group on Insurance and Financial Services about the future and funding of the FSCS scheme on 14 June, Sheila Nicoll, director of conduct policy at the FSA told MP’s that changes in Europe and UK…
Biba presents petition on fees to MP
The British Insurance Brokers' Association has presented a petition of nearly 7000 member signatures to Jonathan Evans MP calling for the government to accelerate the Financial Services Authority’s review of the Financial Services Compensation Scheme…
FSA spends £763k on delayed FSCS review
The Financial Services Authority spent £763 000 on a review of the Financial Services Compensation Scheme that it later abandoned.
Biba 2011: Brokers back Biba and IIB as merger revealed
Moves by the British Insurance Brokers' Association and the Institute of Insurance Brokers to merge have been overwhelmingly backed by brokers.
Broker redomiciling: The case for migration
With the UK becoming an increasingly expensive place to do business, David Coupe questions whether more brokers will look to move abroad.
Biba 2011: CEO Galbraith outlines need for client money solution
In his opening address at the British Insurance Brokers' Association 2011 Conference in Manchester, CEO Eric Galbraith, called on HM Treasury and the new Financial Conduct Authority to work together towards delivering the right regulation for insurance…
Broking supplement: Interview – David Flux: The lie of the land
Lured off of a tractor and into the family business with the promise of an extra £4-a-week, David Flux has worked his way to the top of the firm. He talks to Amy Ellis about life in the niche motor market.
Firms face ruin after court ruling
The insurance industry has been warned some firms could face ruin after a legal challenge to the Financial Services Authority's measures to deal with payment protection insurance complaints was rejected.