Regulation – Page 22
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News AnalysisBriefing: Regulation pulling the sector this way and that
Are the two largest pieces of regulation for the insurance industry today pulling in opposite directions?
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NewsFCA imposes restrictions on four insurance firms amid AR crackdown
’Thanks to our tougher rules and new reporting requirements, we have been able to take increased action,’ says director of insurance
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NewsOver half of UK adults considered vulnerable under Consumer Duty – Watermelon
’By understanding customers better, financial service providers are best positioned to help all their customers,’ says chief strategy officer
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NewsNew service for insurers to be launched ahead of Consumer Duty regulation
The service will give insurers a ‘data-driven view of their performance against a backdrop of consumer outcomes’, says head of consumer strategy
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NewsRefreshed GTA needs to take account of changes in motor claims market – CHO
It came as discussions between the credit hire industry and insurers on the scope of a revised GTA reach an important stage
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News AnalysisBriefing: Has Lloyd’s really banned underwriters from insuring state-backed cyber attacks?
Attribution, degree of damage and the insured’s ability to bounce back are all challenges that cyber insurers must continue to wrestle with
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NewsThe key lesson learnt as OIC portal reaches two-year milestone
’One thing we have learned is that reforms of this complexity need in future to be implemented only when processes have been properly stress-tested,’ says executive director
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NewsCustomers confused by financial communications ahead of Consumer Duty – Definition Group
’Financial organisations must conduct research to better understand the context in which their customers make financial decisions,’ says head of research
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NewsInsurers urged to understand market position ahead of Consumer Duty regulation
Head of strategy says many insurers ’lack insight’ on market position
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NewsConsumer Duty creating ‘further doubt’ amongst professionals offering GI
’There is an increasing need to offer a holistic service to customers,’ says head of HR and compliance
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News AnalysisSimon Collings: Market in transition as underwriters become more aggressive
The insurance sector is seeing signs that point towards ‘a market in transition’, says managing director
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BIBAFCA urged to act over ‘unacceptably high’ regulatory burden on brokers
’The FCA and government must look again at how the regulatory costs can be reduced,’ says chief executive
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News AnalysisBriefing: Industry looks set to quickly answer Treasury’s call
It is unlikely that insurers and brokers will miss their chance to have their say, says Jon Guy
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NewsPeople ‘in dark about benefits’ of legal expenses insurance
Legal expenses insurance is ‘vital’ for access to justice, according to report
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IT InterviewChris Haggart: Networks have ‘prominent’ role to play in supporting insurance intermediaries
’There are a huge amount of competing pressures and it’s important to have a partner who can support you through that,’ says chief executive
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NewsFCA Consumer Duty clampdown triggers surge in product benchmarking
‘Our data shows providers have been busy making sure that their products are fit for the consumers they’re being sold to’, says head of insight and consulting
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NewsBiba urges sharing of property commission ban to be brought forward
Chief executive says move will create a ’level playing field and avoid an early movers penalty’
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NewsGove ‘outraged’ as FCA reveals increase in broker leasehold remuneration
’Leaseholders are being badly let down,’ says Levelling Up, Housing and Communities secretary
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NewsFCA sets out new protections for leaseholders in multi-occupancy leasehold buildings insurance market
‘We won’t hesitate to taker further action if brokers don’t comply with our rules,’ says regulator
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News AnalysisBriefing: FCA must accelerate its authorisation process for new brokers
While the regulator must complete careful audits of new firms, the time periods being reported must improve
