Regulation
FCA does not want to be a price regulator, says Sheldon Mills
Sheldon Mills, executive director – consumers and competition at the Financial Conduct Authority, has stressed to brokers that the watchdog does not want to be a price regulator.
Biba urges FCA to step in as Lloyds moves to close undesignated client money accounts
The British Insurance Brokers’ Association has contacted the Financial Conduct Authority asking the regulator to intervene over Lloyds Bank’s move to close undesignated client money accounts for some members, Insurance Age can reveal.
Regulation round-up: An end to form over substance?
Biba’s David Sparkes considers recent developments at the Financial Conduct Authority
FCA staff go on strike with two more walkouts planned
Members of Unite have gone on strike at the Financial Conduct Authority today in a move the union said was the first industrial action taken since the regulator was created.
Analysis: Network knowledge is key to opening the door to new start-ups
The network sector is in upbeat mood confident of growing with existing and new members as well as being keen to help new start-ups come into the insurance market, the leaders tell Emmanuel Kenning
The Irish broker market: Consolidation and compliance
David Worsfold visits the Emerald Isle to learn more about how the broker market is developing and asks if the next wave of consolidation will be an Irish one
Blog: Bona fide sub contractors – a hard sell?
Martino D’Aliesio, lead underwriter – casualty at Ensurance, on the key questions for brokers to guide their construction clients through the complex bona fide sub contractors area.
FCA unveils enhanced oversight programme for newly authorised firms
The Financial Conduct Authority has revealed an expansion of its Early and High Growth Oversight offering with a commitment of providing closer support for 300 newly authorised businesses by the end of 2023.
Aviva reveals scale of broker recruitment ‘headache’ threatening growth
Almost all brokers – 98% – currently have job vacancies with more than half (53%) reporting a vacancy that had been open for four months or more, according to research by Aviva.
Amanda Blanc to co-chair Treasury’s climate transition plan taskforce
Aviva boss Amanda Blanc has been named as the co-chair of the government’s UK Transition Plan Taskforce along with John Glen, economic secretary to the Treasury.
New Stubben Edge network appoints first AR
Stubben Edge has signed up The Verity Centre as its first appointed representative partner.
Car insurance prices up 4% in Q1
A 4% rise in average comprehensive car insurance premiums in the first quarter of the year has pushed the annual rate to a 2% increase, according to research by Confused and WTW.
Motor insurance premiums levelled off in February
The cost of car insurance has risen by 4.3% since the start of the year, Consumer Intelligence has calculated.
FCA staff vote to strike
Unite the union representing staff at the Financial Conduct Authority (FCA), announced yesterday (12 April) that staff at the regulator had voted in favour of industrial action.
FCA warns on broker clone
Colin Halliday, managing director of Trade and Commercial Broking Services, has praised the work of the Financial Conduct Authority and Ten Insurance after being targeted by a clone website.
Blog: Sanctions screening and responsibilities of UK insurance brokers
It’s critical for brokers to understand and manage sanctions screening and anti-money laundering compliance to avoid possible penalties, including fines, reputational damage and potential imprisonment for senior decision makers, says Paul Tasker CEO of…
Lords Committee calls for “a broader reassessment of regulatory culture”
The Industry and Regulators Committee has outlined concerns about proportionate regulation in the London Market in a letter written to the Economic Secretary to the Treasury, John Glen MP.
FCA warns of Direct Line clone
Regulator flags Direct Line Sustainability to customers.
Regulatory changes set to bite
Former FCA insider, Michael Sicsic, highlights that developments from the watchdog will hit home in 2022.
Experts respond to “disturbing” motor insurance ethnicity penalty report
Insurers face challenging questions but the Association of British Insurers insists “insurers never use ethnicity as a factor” to price cover.
Q&A: Mike Keating – MGAA CEO
Ahead of the Meet the MGA event which takes place on 30 March in Birmingham, Mike Keating explains the value of MGAs to the broker space.
ICO cracks down on firms’ nuisance ‘appliance insurance’ calls
Five companies were collectively fined £405,000 by the Information Commissioner's Office for over 755,000 unsolicited marketing calls.
Hiscox chair calls for more consistency and less bureaucracy in regulation
Non-executive chairman Robert Childs has called on regulators to be more flexible, offer more consistency, and prioritise a competitive edge.
Analysis: FCA bares its teeth on residential property insurance
Martin Friel explores the likelihood of intervention by the watchdog as premiums go up in a market that has “not worked well” for more than a decade.