Regulation
FCA authorisation service slips back in Q4
The Financial Conduct Authority’s authorisation service in broker-related categories went backwards in the final quarter of the 2024/25 financial year.
Biba seeks insurer meetings after publishing disclosure advice
The British Insurance Brokers’ Association has launched cross industry guidance that it hopes will reduce misunderstandings over what should have been disclosed when cover was taken out - which in some cases will cause a claim to be repudiated or reduced.
Biba unveils new 5.2% regulation costs metric
The British Insurance Brokers’ Association has revealed for the first time the impact of regulation costs on insurance premiums paid by clients, setting the proportion at 5.2%.
No new FCA skilled persons investigations into insurance in final quarter
The Financial Conduct Authority did not commission any skilled person reports in the insurance sector between January and March, leaving the running total for the 2024/25 financial year at 10.
The FCA’s new five-year plan – what does it actually mean for brokers?
Following the recent publication of its new five-year plan, Insurance Age canvassed opinion from regulatory experts and market commentators on what brokers might expect from the the Financial Conduct Authority between now and 2030.
FCA ends Scottish broker’s trading permissions after dual pricing attestation and response failures
The Financial Conduct Authority has cancelled L R Kennedy Insurance Services’ permission to carry out regulated activities with immediate effect.
What ramifications could an FCA ‘whistleblower’ case have for the broking sector?
As an employment tribunal considers the case of a Financial Conduct Authority whistleblower claiming unfair dismissal; Karen Jackson, solicitor and founder-CEO of didlaw, unpicks the possible implications for insurance broking staff thinking of making…
Rathi reappointed FCA CEO
The Treasury has announced the reappointment of Nikhil Rathi as chief executive of the Financial Conduct Authority for a second term.
FCA to consult on 2025/6 fees as it plans 2.2% hike for brokers
The Financial Conduct Authority has revealed it is proposing to raise broker fees by 2.2% as it outlined plans for its 2025-2026 work programme today.
NIC rises and Payrolling of Benefits - challenges and opportunities for insurance brokers
In the final part of a series on the fallout from the 2024 Budget, PKF Littlejohn’s Liam Condron looks at the rise in employer National Insurance Contributions and introduction of the Mandatory Payrolling of Benefits regime, and analyses what these…
Blog: When will broker regulation be proportionate?
With regulation always on the tips of the insurance industry’s tongues when it comes to challenges in the market, Rosie Simms asks how much the FCA needs to do, or pull back from, to have a proportionate recipe for growth?
Scrapping minimum training hours – Q&A with Crescens George, CEO of Wiser Academy
Last month, the Financial Conduct Authority proposed scrapping the specified minimum hours of training and development required for insurance employees.
CII responds to FCA’s proposal to scrap minimum insurance training hours
The Chartered Insurance Institute has no plans to alter its Continuous Professional Development expectations for members in light of the Financial Conduct Authority’s proposal to end the specified minimum hours of training and development required for…
FOS expects motor insurance complaints to stay high in 2025/26
The Financial Ombudsman Service has flagged it expects complaints about motor insurance to remain high in 2025/26 due to the higher cost of, and supply challenges around, parts and labour.
Confidence on growth stays stable as regulation remains to the fore
Around nine in ten leaders continue to feel upbeat about growth prospects for the second quarter of 2025, according to the latest findings in the KPMG UK Financial Services Sentiment survey.
Experts hail proportionate regulation in FCA five-year strategy
The Financial Conduct Authority’s strategic plan for 2025-2030 is “expansive and broad”, but the initial impression is positive, “particularly on the noises the FCA has made around proportionate regulation”, according to Jill Hambley, managing director…
FCA to cut “clunky interactions” as it drives digitisation
The Financial Conduct Authority is focused on cutting “clunky interactions”, with a key move being the digitisation of forms, according to Sheree Howard, FCA executive director of authorisations.
FCA to consult on removing minimum training and development hours in insurance
The Financial Conduct Authority will open a consultation this summer including on the definition of SME used in the insurance market as part of its ongoing review of Consumer Duty rules.
FCA launches five-year strategy promising smarter, more efficient and effective regulation
The Financial Conduct Authority has launched its five-year strategy revealing the four priorities for 2025 to 2030.
Which? calls out ongoing “hefty” premium finance charges
Consumer champions Which? have branded premium finance rates currently being charged by many insurers as “difficult to justify”, especially with car insurance where it found a third of rates are above 25%.
FOI reveals smaller broker involvement in FCA’s first Consumer Duty board reports review
The Financial Conduct Authority included 34 firms from the insurance sector in its review of the first annual Consumer Duty board reports, a Freedom of Information request from Insurance Age has revealed.