Regulation
News
Biba 2025: Some firms will find FCA’s refocused approach ‘challenging’ to navigate
’That flexibility is beneficial, but there are challenges that come with it,’ says managing partner
News
Biba 2025: Trudgill welcomes FCA decision to simplify rules in keynote
’I know our members will look forward to this new era of regulation,’ says chief executive
News
Biba 2025: FCA reveals plans to strip back insurance rulebook
’We are stripping back our insurance rulebook by removing ineffective, outdated or duplicated regulation,’ says director
News Analysis
Opinion: FCA flexing trigger finger around section 166 driven enforcement
Consultancy’s freedom of information request reveals direct cost impact of section 166 reporting, providing further impetus for firms to get a handle on regulatory admin
IT Interview
Richard Breavington: Exposure, appetite and uptake – the changing strategy of insurers in the cyber market
Cyber specialist and RPC partner talks cyber insurance, ransomware and how insurers are changing their strategies to get the most from the market
News Analysis
In Focus: What do Trump’s tariffs mean for UK insurance claims?
’We believe that the introduction of tariffs will increase the cost of claims,’ says head of insurance
News Analysis
Briefing: Easing regulatory burden is no small feat as pressure mounts
Biba has ringfenced the direct and indirect cost of regulation – but how the moving parts of government, industry and regulators align to digest and deal with such information is still up for grabs
News
FOS reveals which insurers are seeing largest volume of complaints
‘Behind each case are customers waiting for an answer and we are committed to delivering fair, timely and effective resolutions for consumers and businesses alike,’ says chief executive
News
Biba reveals impact of regulation costs on insurance premiums
‘We strongly believe that the burden of regulation can be reduced and we are working closer than ever with the FCA on a number of opportunities to achieve change,’ says chief executive
News Analysis
In Focus: Is the Covid linked business interruption claims backlog still an issue for UKGI?
Five years on from the onset of the Covid-19 pandemic, Insurance Times asks insurance experts whether business interruption claims linked to the lockdowns are still causing challenges for insurers and what the scope of the potential backlog is
News
FCA revokes Glasgow-based broker’s permissions to operate after fair value reporting failure
The regulator has deemed the broker ‘not a fit and proper person to conduct regulated activities’ after ignoring fair value questionnaire request from 2022
News Analysis
The Big Question: What do the FCA’s proposal U-turns mean for UKGI?
Following the FCA’s March 2025 decision to abandon its proposed name and shame strategy and shelve new diversity and inclusion requirements, industry voices share their perspectives and discuss the possible ramifications of these decisions on the UK general insurance sector
News
Insurance premium tax windfall sets record high for Treasury
‘The full-year IPT receipts to March 2025 indicate another significant increase for the chancellor,’ says senior actuarial director
News Analysis
Nearly half of brokers consider the regulatory environment in the UK insurance market ‘too restrictive’
Smaller firms without dedicated compliance teams find current regulations the most burdensome, according to exclusive Insurance Times research
News Analysis
Five years of ombudsman data exposes insurance’s biggest complaints
A five-year review of ombudsman complaints data reveals motor insurance continues to dominate complaints volumes, while travel insurance has the highest upheld rate of the major UKGI business lines
News Analysis
In Focus: Was Gap insurance ‘unfairly targeted’ by the FCA?
’The way [the FCA has] gone about it, closing down an entire market, is unheard of,’ says managing director
News Analysis
Briefing: Consolidation shrinks UK broker volume – but paves way for new talent and insurtech entries
The number of retail brokers regulated by the FCA has reduced by 46% between 2006 and 2024 – this is leading to new trends and acquisition focuses across UKGI in 2025. However, more M&A is definitely on the cards…
News
London market bodies launch misconduct training programme after FCA request
’The workshops are designed to equip key stakeholders across the insurance sector with the knowledge, tools and strategies needed to enhance workplace culture, governance and compliance with FCA expectations,’ says chief executive
News
FCA unveils new five-year strategy to ‘support growth’ and ‘deepen trust’
’We are ambitious for the future and committed to enabling a fair and thriving financial services market for the good of consumers and the economy,’ says chief executive
News
FCA issues update on probe into second insurance market
’There are concerns that commissions used to sell these products may affect the outcomes consumers receive and the products’ value or design,’ says regulator
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