Regulation – Page 19
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Analysis
Briefing: Unwieldly regulatory compliance driving broker consolidation surge
‘The regulatory burden’ is causing consolidation at pace, but will ongoing government consultations help to give brokers the regulation respite they need to stand on their own two feet?
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Analysis
Briefing: Google faces the music over abusive conduct
Google must improve its conduct as scrutiny on its behaviour increases
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News
Manifesto 2022: Biba demands fairer compensation levy for GI brokers following member 'uproar'
Although Biba’s members are happy to contribute to a compensation scheme, the current arrangement feels ’more like bailing out rather than chipping in’, says trade body chief executive
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News
Manifesto 2022: Biba pushes for transparency and accountability at the FCA
The introduction of the new objective is designed to allow the insurance industry to ‘grow and prosper’, says economic secretary
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News
Insurance sector must ‘look calmly’ at the lessons learned from BI test case – John Glen
Economic secretary to the Treasury believes ‘brokers will play a crucial role in rebuilding consumer trust and developing clearly worded policies going forward’
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News
Manifesto 2022: Business interruption insurance needs more clarity – Biba
Biba members have said that a 12-month indemnity period is not long enough
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Analysis
Briefing: FCA is crushing the life out of brokers - it must be reined in
A major consultation is under way which could rein in the FCA
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News
Manifesto 2022: Biba urges Road Traffic Act amendment post-Brexit
Changing the Road Traffic Act could save UK motor insurance policyholders £50 each
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News
Motor injury claims reported to government body plummet in 2021 – ACSO
Despite the FCA introducing new pricing rules to protect consumers, the insurance industry reaping £3.3bn in profits is the ‘beneficiary’ from in the drop off in motor claims, says executive director
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News
FCA is ‘an impediment to the effective working of the market’
Biba’s chairman noted that the FCA appears to be implementing ‘regulation for the sake of regulation’, which is ‘affecting competition, productivity and innovation’ within the broking community
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News
FCA staff to vote on strike action in response to bonus cuts
Trade union alleges that FCA staff outside of London are due to be put on lower pay scales and that abolishing employee bonuses across the workforce will lead to pay cuts of up to 12%
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News
Manifesto 2022: E-scooters need compulsory public liability insurance
The trade body has also called for e-scooter insurance policies to be exempt from insurance premium tax
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News
Manifesto 2022: Biba urges UK government to slash IPT to 10% in next Budget
The trade body further believes that IPT relief should be offered for cladding-linked property insurance, telematics-based motor policies and cyber cover
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News
Biba launches ‘biggest’ manifesto for 2022
The 84-page document, themed around managing risk, contains 52 calls for action from the broker trade body across six detailed chapters
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Analysis
Hunting down the truth about trail hunting insurance
Although insurance does not cover illegal activities, such as fox hunting, verifying potential trail hunting-related claims could fall into a protection grey area
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News
FCA’s GI pricing reform wreaks havoc for consumers seeking cheaper premiums – GlobalData
The ‘largest threat to insurers’ following the pricing rule change ’is likely to be from pay-per-mile motor insurers’, says insurance analyst
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Analysis
House of Lords debates need for e-scooter safety regulations and compulsory insurance
Speakers in the House of Lords last week debated the safety of e-scooters on UK roads and whether more stringent regulation is needed amid claims that ’the pavements have become a jungle’
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News
Cocktail bar chain leads formation of BI action group against RSA and QIC Europe
UK restaurant and bar group’s ‘substantial’ claim highlights how hospitality businesses are having ‘to fight tooth and nail to obtain an indemnity’, says company director
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News
Brokers must be at the forefront of the fight against climate change – LIIBA
‘Fundamental change in culture at the FCA’ will also be vital to improve the competitiveness of the UK insurance market, says chief executive
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News
Property law regulator launches consultation on changes to professional indemnity insurance
The consultation will close on 25 February 2022