All FCA articles – Page 6
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News AnalysisIn Focus: Consumer Duty presents ‘huge opportunity’, but implementation has not been smooth
With the 31 July 2023 deadline fast approaching, can the general insurance sector properly grasp the opportunities new regulation offers?
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NewsFCA ‘nowhere to be seen’ as people of colour continue to pay more for motor insurance
’There is a truly worrying link between ethnicity and insurance costs,’ says chief executive
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NewsFCA appoints new enforcement directors as it looks to become ‘more assertive’
The new executive committee will bring a ‘highly complementary skillset,’ says chief executive
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NewsFCA sends Consumer Duty survey to cross-sector firms
The regulator is seeking views on its new regulatory framework prior to implementation in summer
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NewsInsurtech sector breathes sigh of relief following SVB UK HSBC rescue deal
The government is ‘working urgently’ to limit the potential fallout, says UK prime minister
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NewsBackchat March 2023
Insurance Times shares the best industry anecdotes from the last month, delving into the world of obscure high net worth art. What has the insurance industry been up to of late? You heard it here first…
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NewsBrokerFest 2023: Consumer Duty ‘not going anywhere’ but GI sector has head start on other financial services – FCA
’Quite a bit of the essence of Consumer Duty is already present in the insurance broker market,’ says regulator’s director of general insurance
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NewsBrokerFest 2023: FCA set to address fair value assessments and Consumer Duty at 2023 event
The one-day, London-based conference will kick-start with a detailed discussion on regulation
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News AnalysisIndustry welcomes FCA review of FSCS thresholds to mitigate ‘unintended unfairness’
In December 2022, the FCA outlined its planned review of the FSCS compensation funding model – trade body says this could prove to be ‘very positive’ for brokers
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News AnalysisIs it the end of the line for property insurance commissions on multioccupancy buildings?
The UK government has indicated its intention to ban managing agents and freeholders from taking commissions when arranging buildings insurance
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NewsVulnerable customers less likely to shop around for home and motor cover – Consumer Intelligence
Almost half (42%) of home insurance customers were revealed to be potentially vulnerable
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NewsManifesto 2023: Cost of regulation for brokers at an ‘all time high’
The average costs of regulation have skyrocketed by 40% since 2019, said the trade body
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NewsFCA highlights focus areas for Consumer Duty implementation
The multi-firm review from the regulator ‘should be of real concern to the industry’
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NewsFCA proposes updated guidance to support insurance customers in financial difficulty
The regulator is aiming to solidify its stated support for consumers struggling with the cost of living crisis, says executive director for consumers and competition
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News AnalysisLloyd’s of London expects 14.3% top line growth in 2023
Lloyd’s is forecasting peak inflation for the end of this year that will taper off next year, says chief of markets
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NewsFCA to clamp down on insurers avoiding fair value claim payments
The regulator has seen evidence that some claimants are being offered prices lower than their vehicle’s true market value following claims
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NewsFCA proposes new rules to intercept greenwashing
The regulator’s consultation on the proposed changes will be open until 25 January 2023
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NewsFCA exploring big tech firms’ potential to ‘disrupt established markets’
The regulator’s move follows the launch of Amazon’s home insurance store last week
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NewsFCA warns sector over ensuring value for consumers
The regulator has warned that customers’ mental and physical health may suffer when struggling to pay bills
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NewsFCA sets out potential reforms to multi-occupancy buildings insurance market
Biba has welcomed the findings of the report and said it appreciated the regulator’s engagement with its members while gathering information
