Payment protection insurance (PPI)
The FSA sends signal of intent with broker fine and insurer bans
The Financial Services Authority (FSA) has fined a broker network director and banned three insurance professionals for a £2m fraud in its latest crackdown.
Brokers demand 'safe harbour' from PPI storm
The Financial Services Authority (FSA) has come under increasing pressure to force insurers to share the burden of compensation claims resulting from the widespread mis-selling of payment protection insurance (PPI).
FSCS has paid out over £200m in compensation
The Financial Services Compensation Scheme’s (FSCS) annual report and accounts for 2009/10 has revealed that more than £204m has been paid out in compensation to over 21,000 claimants.
Editor's comment: Regulator change risks instability
The announcement that the Financial Services Authority is to be disbanded and replaced with a combination of regulation from the Bank of England including a new Consumer Protection and Markets Authority brings opportunities and dangers.
News analysis - FSCS: Outrage as FSCS bills rise
Brokers have been hit by a dramatic rise in bills from the Financial Services Compensation Scheme, which has a sparked a huge controversy as brokers feel they are paying for the misdemeanours of others, writes Andrew Tjaardstra
FSA fines broker network director for PPI failings
The Financial Services Authority (FSA) has fined the director of a network for failing to properly supervise appointed representatives (AR) working on behalf of the firm.
Opinion: Editor's comment - July 2010
Have you received your letter, the one that informs you that your Financial Services Compensation Scheme (FSCS) bill has gone up a bit? "A bit?" I hear you cry. And cry you might for brokers are reporting increases of up to 800%.
L&G creditor product launch to bolster its top five ambitions
Legal & General (L&G) has stated its ambition to become a top five personal lines player as it unveiled plans for a new creditor product for brokers.
FSA extends PPI complaint window
The Financial Services Authority (FSA) has announced a temporary rule to give customers, who recently made a complaint about their payment protection insurance (PPI) policy, more time in which to refer their complaint to the Financial Ombudsman Service …
Schemes: British Insurance MPPI offering
Towergate-owned British Insurance has launched a new mortgage payment protection insurance policy.
Back in discussion: CC pushes for point-of-sale PPI ban
The Competition Commission (CC) is to return to the issue of payment protection insurance (PPI) and is once again pushing for a point-of-sale ban.
PPI complaints take FOS caseload to new level
The number of Financial Ombudsman Service (FOS) insurance disputes has increased by 38% largely due to a surge in complaints about payment protection insurance (PPI).
FOS insurance disputes up 38% due to PPI complaint surge
The Financial Ombudsman Service (FOS) resolved a record 166,321 disputes in 2009/10 – a 46% annual increase – resulting in compensation for consumers in 50% of cases.
Biba launches new PPI scheme
Biba has appointed Millennium Insurance, the distribution arm of Direct Group, as the provider of its new members scheme for protection insurance.
FSCS levies set: brokers stung by higher than expected £61m
The Financial Services Compensation Scheme (FSCS) has set the 2010/11 general levy at £148m with brokers being hit by more than £60m of that.
Interim FSCS levy scrapped but £61m PPI burden on brokers remains
The Financial Services Compensation Scheme (FSCS) has set the 2010/11 general levy at £148m.
PPI reimbursement could cost up to £3bn, warns report
The Financial Services Authority (FSA) consultation document on Payment Protection Insurance (PPI) mis-selling has costly and serious ramifications for the PPI industry, according to Defaqto.
FSA to consult further on PPI following "highly critical" industry response
The Financial Services Authority (FSA) is to embark on further consultation for its plans to reform the Payment Protection Insurance (PPI) market.
British Insurance unveils new MD as Burgess heads to US
Nel Mooy has been appointed as managing director of Towergate's independent unemployment, accident and sickness insurer, British Insurance.
'Obscene' levies squeeze broker finances
Brokers could be forced out of business as a result of huge financial demands in the shape of a £70m levy made by Financial Services Compensation Scheme (FSCS) and a significant increase in minimum Financial Services Authority (FSA) fees
Unemployment fell in last three months of 2009 but 2.8 million are 'underemployed'
Total unemployment was down 3,000 between October and December last year.
FSCS predicts rise in PPI claims
Rising payment protection insurance (PPI) and investment claims are key drivers of compensation costs for the rest of 2009/10 and into 2010/11, according to the Financial Services Compensation Scheme.
View from the Top: claims management and personal lines
Three leading insurance professionals discuss claims management and personal lines with PB's editor Andrew Tjaardstra