Regulation
Brokers warned of rise in fraud after FSA bans broker
Brokers have been warned to ensure that proper internal controls are in place to tackle a rise in simple but potentially business-threatening fraud.
Insurance Age blog: fighting the threat of regulation
Well we've chalked off yet another Broker Expo and again it attracted a record number of brokers - over 750 made the journey to Coventry this year.
Broker Expo: Referral fee ban will be the 'next scandal'
The proposed ban on referral fees will be a good thing, but has the potential to damage public perception of the insurance industry, according to a panel discussion at the 2011 Broker Expo, hosted by Insurance Age.
Broker Expo: Delegates warned that tougher FSA is already here
Brokers have been warned that the Financial Services Authority’s (FSA) long-promised new intrusive approach is already here and that it is not “pussyfooting around anymore”.
Editor’s letter - November 2011
“Having one trade body will only help convince those in power this is a serious industry, united in its desire for fair representation”
Sentiment Survey Autumn 2011
The latest Sentiment Survey indicates that dual pricing is still a concern for brokers and commercial is lagging behind personal lines in terms of rising premiums
Market moves: welcome home
October saw a lot of business development action with insurers chasing brokers and brokers chasing clients in the static UK economy. While there were numerous appointments across the board, as seems to have been the case throughout 2012, Scotland and the…
Biba and IIB merger goes ahead
Trade bodies promise stronger representation as merger is finally completed
Reportage: LEI’s future in the balance
Legal expenses insurance faces an uncertain future but commercial could provide a lucrative new market, reports Louise Meeson
Brokers demand big changes in FSCS review
Trade body prepares to lobby FSA to get brokers a better deal in review of compensation scheme
Disturbing lack of faith
The centuries old principle of uberrima fides, or acting in good faith, has disappeared in non-business insurance, and the industry only has itself to blame, writes Tony Cornell
Lawyers warn of loophole in referral fee ban
Global law firm Kennedys has warned there is a significant loophole in the government’s proposed ban on referral fees.
FSA scrutinises banks' bundling of insurance products
The Financial Services Authority (FSA) has made a host of proposals to change the way that insurance is sold when bundled into bank accounts.
Ombudsman reports sharp drop in PPI complaints
The Financial Ombudsman Service (FOS) has revealed a 66% drop in payment protection insurance (PPI) complaints in its quarterly complaints report.
FSA warns aggregators not to breach permissions
The Financial Services Authority (FSA) has expressed concerns that comparison sites are helping to arrange and advise on sales without the correct permissions.
Djanogly stripped of CMC powers
The justice minister, Jonathan Djanogly, has been stripped of his responsibility to regulate claims management companies after it was revealed he and his family could profit from changes to legal aid he was proposing.
OFT: consumers can improve professional services sector
The Office of Fair Trading (OFT) has made recommendations designed to improve the professional services market and driving consumer choice.
Personal injury lawyer welcomes referral fee ban
A personal injury solicitor has broken ranks with his peers to welcome Government moves to ban referral fees in insurance cases.
Banking changes may hinder lending to SMEs
The implementation of the Basel 3 regulatory framework will dramatically hinder retail bank lending to SMEs, according to the European Savings Banks Group (ESBG).
Even FSA staff in the dark over regulatory changes
Staff at the Financial Services Authority (FSA) are being left in the dark over the imminent changes to the regulatory system.
'Tesco law' arrives today
The new Legal Services Act comes into force today, allowing insurance companies to take a majority stake in law firms.
Wilmslow PPI claims to be accepted by FSCS
Wilmslow Financial Services, a broker specialising in payment protection insurance (PPI), has officially been declared in default.
IIB 'delighted' with FSCS funding review decision
The Institute of Insurance Brokers (IIB) has welcomed news that the Financial Services Authority (FSA) is to restart its funding review of the Financial Services Compensation Scheme (FSCS).
Biba backs FSCS funding review
The British Insurance Brokers’ Association (Biba) has given its full backing to the Financial Services Authority (FSA) following its announcement that it is restarting its funding review of the Financial Services Compensation Scheme (FSCS).