Financial Conduct Authority (FCA)
FCA bolsters authorisations teams in effort to speed up approval process
The Financial Conduct Authority has added 95 staff in an effort to speed up its authorisations process against a backdrop of possible strike action.
Partners&’s Phil Barton calls for a new commitment to giving quality advice
In the aftermath of the Supreme Court’s business interruption ruling, brokers must now ditch the transactional practices of the past for an advice-led approach to rebuild the marketplace’s reputation, argues Phil Barton, CEO of Partners&.
Brokers defend record amid insurance probe into 'failing' market for flats and tower blocks
Amid regulatory scrutiny brokers have accepted there are insurance challenges for flats but sought to defend their role when approached by Post.
Hunt begins for next FCA chair
HM Treasury has appointed Richard Lloyd as interim chair of the Financial Conduct Authority, with effect from 1 June 2022, as the search for Charles Randell’s successor begins.
Editor's comment: Celebration or commiseration
We are a family that is big on marking the passing of time – birthday, anniversaries and well just any excuse to get together really – good job too with no less than six family birthdays in January alone.
Analysis: Weighing up the FCA’s consumer duty rules
Compliance experts address what the FCA’s new consumer duty proposals will mean for the insurance sector, whether the industry is ahead of the curve and if the changes will be value for money
FCA staff vote yes to strike action if no deal reached with Rathi
Financial Conduct Authority staff who are members of Unite have voted to support strike action in an initial ballot with the union warning CEO Nikhil Rathi not to wage "war" and that "the ball is in FCA’s court now".
DLG CEO Penny James appointed chair of FCA practitioner panel
Penny James, Direct Line Group CEO, has been named chair of the Financial Conduct Authority’s practitioner panel.
FCA issues fair value warning amid government's flats insurance review order
The Financial Conduct Authority has written Dear CEO letters to insurers and brokers, putting pricing models, product fair value and commission in the spotlight after the government ordered a review into the "failing" insurance market for leaseholders.
Michael Gove orders review into ‘failing’ insurance market for leaseholders
The government has called on the Financial Conduct Authority to start a probe into the “crippling costs” of insurance premiums for residents of blocks of flats as it hit out at the current unacceptable situation.
Insurance in the vanguard on consumer duty, says FCA’s Matt Brewis
The Financial Conduct Authority sees insurance as ahead of the game on consumer duty after the work on pricing and value in recent years, the regulator’s director of insurance and conduct specialists Matt Brewis has indicated.
FCA lacks ‘precision’ and regulators need greater accountability, inquiry hears
London Market trade body representatives have told a Lords’ inquiry that the regulator’s ‘one size fits all’ approach to insurance must change and more accountability is needed.
Biba takes aim at weight of regulation and broker FSCS costs
The British Insurance Brokers’ Association has put regulatory and Financial Services Compensation Scheme reform in the crosshairs as it called for a cut in insurance premium tax in its manifesto.
FCA faces staff vote on strike action
Financial Conduct Authority staff are voting on whether to take industrial action at the regulator.
Analysis: Covid BI disputes rage on a year after Supreme Court judgment
The final bill for coronavirus-related business interruption claims could yet run much higher than the £1.3bn paid out so far depending on how issues left unanswered are resolved in the months – and possibly years – ahead.
Inquiry launched into commercial insurance and reinsurance market
The Lords' Industry and Regulators Committee has launched an inquiry into commercial insurance and reinsurance regulation.
PRA flags climate change and silent cyber in Dear CEO letter to insurers
The Prudential Regulation Authority has warned insurers on the need to consider silent cyber exposures and that progress on embedding supervisory expectations on climate change has not been consistent across all firms.
Analysis: Loss adjusters’ BI avalanche experience – from portals to what comes next
Loss adjusters have praised the use of technology to meet Covid-19 related business interruption claims and called for more enhancements as the market adapts its systems and approaches.
Markerstudy to keep BGLI brands, staff and management after £400m deal
BGL Insurance is a “complementary fit” with Markerstudy’s existing distribution business and provides cross-selling opportunities as the firm grows to close to six million customers, according to group underwriting director Gary Humphreys.
BGL’s Peter Thompson on the blended experience the customer of 2022 wants
Intuitive, market-leading tech, coupled with a customer services team who understand the products inside out and have the right listening and empathy skills are key to providing the best customer experience this year and beyond, says Peter Thompson, CEO…
Preview: What will 2022 bring for the insurance market?
Post spoke to market experts to get their predictions for what 2022 will look like.
Review of the Year 2021 – Claims and legal
Post spoke to loss adjusters and lawyers to get their thoughts on the highs and lows of 2021.
Vox Pop: Regulation 20 years on from the FSA coming to power – part two
The Financial Services Authority came into force on 1 December 2001. In this anniversary month, in the second of a two-part vox-pop series, Post asks compliance experts for their thoughts on topics including the accountability of the Financial Conduct…
Vox Pop: Regulation 20 years on from the FSA coming to power – part one
The Financial Services Authority came into force on 1 December 2001. In this anniversary month, in the first of a two-part vox-pop series, Post asks compliance experts for their thoughts on how seismic a change the launch was and the current scope of…