Financial Compensation Scheme (FSCS)
FSCS may hold insurers liable for PPI fines
The Financial Services Compensation Scheme (FSCS) has confirmed that it could pursue recoveries from insurers who permitted failed credit brokers to act as their agents.
Biba issues response to Treasury consultation
The British Insurance Brokers’ Association (Biba) has responded to the HM Treasury consultation: A new approach to regulation – building a stronger system, and called for proportionate, appropriate and cost-effective regulation for brokers.
Biba launches FSCS petition to prompt Treasury review
The British Insurance Brokers’ Association (Biba) has launched a petition of its members on the Financial Services Compensation Scheme (FSCS) to be tabled in the House of Commons by an MP.
FSCS GI levy rises but not as much as feared
The Financial Services Compensation Scheme (FSCS) has set the 2011/12 levy on general insurance (GI) intermediaries at £69.5m.
Reportage: Facing up to networks
With networks increasing in popularity, Emmanuel Kenning recounts their development and looks to the future of this crucial market sector.
How to... prepare for an interview
Once you’ve secured that all important interview, remembering the motto ‘failing to prepare is preparing to fail’ will hold you in good stead. However how do you do it well and what are your interviewers likely to be looking for?
Your opinion matters in our market sentiment survey
The twice yearly survey, sponsored by Groupama, is now open for your input.
Insurance Age blog: FSCS - what would Darwin say?
It seems that there isn't a day goes by without someone mentioning the FSCS and its dreaded levies. And quite right too as it has put many brokers under unnecessary, added pressure.
PPI bill could hit £4bn
Jonathan Evans MP has raised the prospect that the overall liability for payment protection insurance (PPI) mis-selling could reach £4bn.
FSCS claws back some cash from failed PPI firm
The Financial Services Compensation Scheme (FSCS) has declared Welcome Financial Services (WFS) in default.
Regulation: Abiding by the rules
As the list of financial regulators grows so, it appears, does the size of their rule books. Branko Bjelobaba hopes a review of the FSA
News analysis - regulation: increasingly oppressive FSCS costs could hamper recruitmentConcern that jobs may be lost as brokers struggle to foot rising bill
The recent increase of over 50% in the Financial Services Compensation Scheme (FSCS) levy for brokers has raised fears that it could cause redundancies in the industry.
Power hour - future of broking round table London: Talking heads
The biggest names in the industry come together to debate the key issues facing brokers at the moment, from regulation and rates to consolidation and distribution. Martin Friel reports.
Insurance Age blog: FSCS - time to go to war?
So I ask, is it time for a court case? Has diplomacy failed and is it time to wield the big stick with a class action?
Biba rallies brokers to lobby Parliament on FSCS fees
The British Insurance Brokers’ Association (Biba) has contacted members urging them to write to their Member of Parliament regarding the escalating cost of the Financial Services Compensation Scheme (FSCS).
New broker regulator gets backing from FSCS
The Financial Services Compensation Scheme (FSCS) has put its weight behind the decision to make the body accountable to both the new Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA).
Biba demands action from regulator on FSCS
Eric Galbraith, chief executive of the British Insurance Brokers’ Association (Biba), has called on the Financial Services Authority (FSA) to accelerate its fundamental review of the Financial Services Compensation Scheme (FSCS).
PPI complaints surge again
The Financial Ombudsman Service (FOS) has revealed that payment protection insurance (PPI) complaints rose to 24,955 for the period October to December last year, up 17% from the previous three months.
Biba hits out at FSCS levy rise
The British Insurance Brokers’ Association (Biba) has hit out at this year's over 50% increase in the Financial Services Compensation Scheme (FSCS) levy.
Brokers hit by further FSCS levy rise of over 50%
The Financial Services Compensation Scheme (FSCS) has announced that the general insurance mediation sub-class will have to contribute £93.5m in 2011/12 a 57% increase over last year’s levy (2010/11: £59.6m).
Editor's comment - February 2011
As you are no doubt aware from this month's cover story, brokers are facing another year of heavy, heavy levies from the Financial Services Compensation Scheme (FSCS).
No let-up in FSCS levy burden for next two years
Brokers have been warned that the heavy cost of the levy imposed by the Financial Services Compensation Scheme (FSCS) in 2010 could become the norm for the next two years.