Regulation – Page 18
-
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
-
NewsInsurers must work together to improve consumer trust if they are to avoid outside regulation – ACSO
Insurers demonstrating that they can collaborate effectively on claims would mitigate the need for potential government involvement, says executive director
-
NewsJustice Committee requests evidence on impact of whiplash reform
The parliamentary committee wants to investigate the impact of governmental reforms
-
NewsIsle of Man Financial Services Authority set to launch new innovation hub
The regulator thought the hub would be a ’nice way to formalise the relationship’ with insurtechs on the Isle of Man
-
NewsPRA to consult on new rules to support struggling insurers
The regulator’s aim is to clarify the support available to insurers when they hit financial difficulty
-
IT InterviewSimon Pickering: Technology must put the ‘customer and broker first’
The Isle of Man’s insurtech accelerator programme aims ’to protect and sustain’ insurance on the island, says head of insurance and pensions
-
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
-
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
-
NewsBiba submits request to HM Treasury ahead of Spring Budget 2023
The trade body has flagged key topic areas for the government, such as flooding, apprenticeships and the Financial Services and Markets Bill
-
News Analysis‘Insurers will have to rely on brokers’ if post-Brexit tax changes come to fruition
Brokers could see changes to their admin workload and trading operations as a result of Brexit
-
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
-
NewsFCA highlights focus areas for Consumer Duty implementation
The multi-firm review from the regulator ‘should be of real concern to the industry’
-
NewsBrokers are ‘absolutely fundamental’ to risk management innovation - Andrew Griffith
The new economic secretary applauded brokers for ‘helping the sanctions to try and bring pressure to bear on Russia as it has pursued its illegal war in Ukraine’
-
NewsManifesto 2023: IPT rate should be frozen
The financial burden on insurance buyers has grown significantly according to Biba, and IPT has reached a record high
-
NewsManifesto 2023: Biba calls for compulsory public liability insurance for e-scooters
The broker body has also taken aim at regulation surrounding automated vehicles
-
NewsManifesto 2023: Insurance sector needs time to prepare for ‘significant impact’ of Martyn’s Law - Biba
The broker trade body may compile a scheme to help its members action the new duty’s requirements
-
NewsBiba launches 2023 manifesto with focus on risk management and stability
Executive director confirms that ‘stability is a key message’ that the trade association wants to bring ‘forward this year’, with focuses on regulation, financial resilience and enabling economic growth
-
News AnalysisHow is the industry faring ahead of the FCA’s Consumer Duty implementation?
Insurance DataLab provides exclusive analysis of the Financial Ombudsman Service’s most recent complaints data to see how prepared the industry is for the FCA’s Consumer Duty this July
-
NewsFCA’s Consumer Duty provides relief for professional indemnity insurance brokers
The new rules can be used to ensure insurers ‘do not engage in sludge practices such as drawing out the time taken to pay a claim unnecessarily’, says policy and public affairs director
-
NewsMoJ launches consultation on dual discount rates for personal injury claims
It is essential that this ’does not turn into a cost saving exercise that benefits the balance sheet of compensators’, says executive director
