Regulation
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NewsFCA 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
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News AnalysisThe 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
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NewsInsurance 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
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News AnalysisNearly 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
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News AnalysisFive 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
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News AnalysisIn 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
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News AnalysisBriefing: 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…
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NewsLondon 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
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NewsFCA 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
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NewsFCA 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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News AnalysisBriefing: The UK’s unique opportunity to create a world-first ‘insurer of state’
Insurtech leader argues that risk management could become ’a proactive and strategic arm of government’ with the right model
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News AnalysisHow UK brokers are adapting to a tougher compliance landscape
The cost of regulation in the UK has never been higher, so how are brokers navigating a more arduous landscape?
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NewsInsurers still charging ‘excessive’ interest to pay monthly, Which? warns
’For millions to face excessive charges due to their circumstances is unfair – and exactly the kind of issue the FCA should address,’ says director
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NewsChancellor meets FCA as ‘radical plan to cut red tape’ announced
’Appropriate regulation of our financial services is essential to a well-functioning system, but it must also be proportionate if it’s going to encourage the innovation, investment and growth our customers and economy need,’ says ABI director
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NewsBrokers want FCA to regulate MGAs separately from insurers and brokers
’A dedicated regulatory framework would not only recognise our unique role, but also reinforce the credibility and trust brokers place in working with MGAs,’ says director
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News AnalysisMarket responds as FCA shelves ‘name and shame’ and D&I proposals
The updates were revealed in a letter sent to the Treasury Select Committee
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NewsFCA and PRA confirm ‘no plans’ to take regulatory D&I proposals further
The FCA and PRA initially consulted on proposed rules and expectations around diversity and inclusion for regulated firms in September 2023
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NewsFCA abandons plan to ‘name and shame’ more companies it investigates
’Considerable concerns remain about our proposal to change the way we publicise investigations into regulated firms,’ says chief executive
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NewsFCA suspends broker’s permission to carry out regulated activities
The broker ’failed to pay periodic fees and levies owed to the authority as required under the handbook’, says regulator
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NewsFCA signals potential ‘industry-wide redress scheme’ for motor finance commissions
’Under a redress scheme, firms would be responsible for determining whether customers have lost out due to the firm’s failing,’ says regulator
