Regulation – Page 22
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NewsUK government publishes Financial Services and Markets Bill
The tabled bill represents ‘the beginning of the development of a new UK regulatory regime’, paves the way for Solvency II reform and furnishes the FCA with new regulatory powers
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NewsElectric vehicle increase strikes fear into motor industry and its supply chains
Insurers need to ‘fundamentally change how they price, underwrite, insure and service’ electric vehicles, says credit hire firm managing director
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NewsCryptocurrency crisis leading to insurance policy wording amendments
Volatility in a market in its infancy is creating calls for regulation, says FCA chief executive
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NewsNewest OIC performance data show continued decline in claims
The portal is also ‘failing’ to provide access to justice as average settlement times are increasing, according to ACSO executive director
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Sponsored ContentRate increases must be expected as inflation bites – Pearson Ham
Stephen Kennedy, director of insurance pricing at Pearson Ham, explains recent pricing movements in the motor and home insurance markets
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NewsMotor premiums see 7.8% increase during first five months of 2022 – Consumer Intelligence
Telematics products, meanwhile, have fallen in popularity as insurers plot their new pricing strategies
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NewsFCA’s new chair revealed
The new hire will ‘bring much needed pragmatism to the FCA board from his experience of running a major regulator’, says law firm partner
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NewsTwo-day FCA staff strike postponed as further talks get under way
The regulator says it is looking ’forward to an open conversation’ with employees about union representation
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NewsBrokers call for mandatory qualification requirements – CII
The CII’s president backs brokers’ call to action because it would ‘improve the image and professionalism of the sector hugely’
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AnalysisThe Big Question July/August 2022: How can insurers better support brokers with compliance?
Insurance Times asks industry leaders how insurers can better support brokers amid the FCA’s influx of new regulation
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NewsTravel insurance signposting review delayed by FCA
The regulator said that the impact of the Covid-19 pandemic would ‘undermine’ its ability to draw firm conclusions
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NewsPCWs have ‘moral responsibility to support fair value’, but they must take ‘huge risk’ to stand out
Insurers have also had a slow start in undertaking fair value assessments, which will have a knock-on effect on brokers’ workloads, says compliance expert
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NewsBrokers must look to their business models to combat costs of regulation
Compliance expert explains that ‘a lot of brokers don’t understand the value of their time’
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AnalysisIn Focus: The OIC portal one year on – success or failure?
Three experts share their perspective on how the Official Injury Claim portal is performing as the system passes its first birthday
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NewsWhiplash reforms have ‘dampened a rise in claims’ – MoJ’s David Parkin
Plus, the Official Injury Claim portal has not been ‘swamped by CMCs’ as predicted, says deputy director
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NewsFCA urges insurance intermediaries to address ‘significant risks of potential harm’
The regulator said it has continued to observe ’ineffective governance and control arrangements’ from insurance intermediaries
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NewsLMG identifies six metrics designed to secure London market’s global competitiveness
The trade body outlines ‘six priority initiatives’ through which the insurance industry’s ‘competitiveness agenda can start to be established and measured’
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NewsGove welcomes FCA findings on buildings insurance market
The secretary of state is also ‘keen to review’ the insurance industry’s role in contributing to ‘high premiums’ for leaseholders
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NewsBrokers are ‘safe haven’ for M&A capital
Amid record amounts of M&A, independent brokers can showcase their status to build customers, while consolidation potentially makes room for broking startups – if they can pass regulatory muster
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NewsTop Premier League clubs to pursue BI claim against major insurers
A ruling in this case could represent a ‘new test case’ for business interruption claims
