premium-finance
How the FCA could address premium finance failings
Marc Maxfield, risk and regulation expert at PA Consulting, explains what steps the regulator could take to reduce profiteering from premium finance plus how insurers should prepare for the watchdog's probe now.
How to meet the FCA’s expectations
Insurers need to be able to articulate the way they make money if they want to satisfy the Financial Conduct Authority, according to Michael Sicsic, founder and managing partner of Sicsic Advisory.
CII’s Connell tackles fair pricing for premium finance
Trade Voice: Dr Matthew Connell, director of policy and public affairs at the Chartered Insurance Institute, says there are many ways of justifying whether a price is reasonable or not.
Which? reveals insurer premium finance APRs
Research conducted by Which? has found that several motor and home insurers are charging what the consumer watchdog called “excessively high levels of interest on monthly payments.”
Insurance experts propose using IPT to combat premium discrimination
Insurance industry professionals have proposed that the government use insurance premium tax to address the “poverty premium” and “ethnicity penalty” in motor insurance.
Biba follows ABI in addressing premium finance
Less than a month after the Association of British Insurers published guidance for members providing premium finance to customers, the British Insurance Brokers’ Association has followed suit.
Insurance Post Power List 2024’s Top 10 Podcast
To find out who made it into the Top 10 of Insurance Post’s Power List for 2024, make sure you listen to the latest Insurance Post Podcast.
Matt Brewis, FCA
Matt Brewis, the Financial Conduct Authority’s head of insurance, is a man on a mission in 2024, which is why he has climbed to third place on this year’s Insurance Post Power List.
Biba’s Trudgill on working with the regulator
Trade Voice: Graeme Trudgill, CEO of the British Insurance Brokers’ Association, outlines how overtures between the trade body and the Financial Conduct Authority might ease brokers' uncertainty around regulation.
ABI sets out principles to address motor premium finance
Members of the Association of British Insurers have agreed to follow five principles to manage the amount customers pay when they pay their premiums monthly rather than annually.
What to expect from the regulator in 2024
Post Podcast: Insurers should brace themselves for the Financial Conduct Authority kicking the tires of how well providers and brokers are adhering to Consumer Duty requirements in 2024.
Bloomberg warns Admiral and DLG could suffer from FCA premium finance action
Admiral and Direct Line’s profits could be threatened if the Financial Conduct Authority clamps down on companies charging customers for paying motor insurance premiums monthly, Bloomberg Intelligence has warned.
FCA to clamp down on premium finance outliers in 2024
Briefing: The Financial Conduct Authority’s head of insurance Matt Brewis has labelled premium finance a “poor product”, and warned the regulator has “talked about it enough,” hinting at potential action surrounding the practice in the next 12 months.
Diary of an Insurer: Markel’s Nick Rugg
Nick Rugg, head of fintech and investment management insurance at Markel International, trains for a half marathon, sings karaoke and encourages younger team members to really understand what underwriters are looking for.
Tower Brook acquires Premium Credit; ABI reports motor premiums have fallen 5% in Q1; Aston Lark buys UK Global; and Seventeen snaps up broker
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Sharon Bishop named Premfina UK and Ireland CEO
Premfina has hired Sharon Bishop as CEO for the UK and Ireland.
Second Close Brothers management reshuffle in under a year as Paul Trail leaves
Close Brothers Premium Finance has re-organised its senior management team again following managing director Paul Trail's decision to step down.
FCA extends payment deferral guidance timeframe
The Financial Conduct Authority has kept the temporary measures to help insurance customers hit by the Covid-19 crisis in place until the end of October.
Close Brothers reshuffle sees Sharon Bishop step down as premium finance CEO
Sharon Bishop has stepped down as Close Brothers premium finance CEO, as the company announced changes to its leadership team.
Blog: Premium finance opportunities in a post-pandemic era
In the aftermath of Covid-19, Owen Thomas, Premium Credit’s chief sales officer reflects, on some key changes to the insurance industry and the increasing role insurance premium finance will play.
Briefing: Gefion hopes to go out with a whimper as brokers predict a bang
News that Danish unrated insurer Gefion had entered run-off and solvent liquidation left us and others in the industry feeling somewhat underwhelmed.