Blog: Is insurance under-fined?
John Byrne of regulation experts Corlytics controversially argues that brokers could see worse from the regulator and says the market should learn from the “painful lessons” in banking.
Up until now, the insurance sector has arguably been under fined. In today’s increasingly complex regulatory environment, each regulated sector is expected to learn the lessons of the broader financial services community.
The insurance world has not had to bear the full glare of the regulators. But that is changing and One Call’s recent fine has shifted the high price of getting it wrong to centre stage.
There are lessons to be learned from other financial sector. Have you been paying
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on People
Zurich appoints youngest ever regional head
Georgina Davis has been appointed head of regional market for the Midlands, South West and Wales at Zurich, succeeding Stephen Davis who is leaving for a new role at another business.
People Moves: 19 – 23 May 2025
Keep up to date with the latest personnel moves in insurance.
IFB warns on sharp rise in ghost brokers
The Insurance Fraud Bureau has launched a national campaign with the Association of British Insurers and City of London Police to raise awareness of the dangers of ghost broking with the fraud growing by over 50% in two years.
People Moves: 12 – 16 May 2025
Follow the latest personnel moves in insurance.
Biba 2025: Gallagher’s Samantha Lowry named Young Broker of the Year
The British Insurance Brokers’ Association has named Samantha Lowry, commercial team leader, of Gallagher, as its young broker of the year 2025.
Acrisure UK boss happy with deal pipeline as he dismisses “myth” of diminishing targets
The boss of Acrisure’s UK retail business has rebuffed suggestions it has missed the boat in terms of having the best pick of suitable broking acquisitions – and pointed to its ownership structure and “myth” about size of potential target base as factors in its favour.
Biba 2025 Countdown: Pen Underwriting’s Sarah Breslin
With just a day to go until the Biba conference Sarah Breslin, managing director for commercial UK & Ireland at Pen Underwriting, is promising a big, bold and colourful stand from the MGA, with a hint of Minecraft as she relishes the chance to talk about all Pen can offer and do business.
Meet the MGA: Shape Underwriting
Mandy Hunt, managing director of Shape Underwriting, explains the logic behind rebranding the Clear MGA business; outlines its holistic approach to acquisitions; and pinpoints the importance of recruiting staff who understand collaboration, integrity and honesty.