Regulation – Page 30
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FeaturesBrokers and LEI providers must ‘bridge the access to justice gap’ for personal injury claimants
Poor usability of the OIC portal and solicitors’ cherry-picking cases has left claimants in a vicious circle
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NewsAviva calls on government to make Online Safety Bill inclusive of spoofing scams
FCA data reported that £78m was stolen by clone firm investment scams between January and December 2020
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News AnalysisInsurer relief as court judgement ends massive claims threat
Consumers will now have to show that they have personally suffered damage or distress
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AnalysisBroker CEO Forum: ‘Unique hard market’ shows ‘fun and games’ in commercial lines
Although commercial rates are starting to ease, areas that are particularly affected by claims – such as cyber – could still see ‘strong increases’, noted delegates
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NewsGovernment’s post-Brexit financial services regulation proposals could see insurance sector ‘flourish’
The consultation on the future regulatory framework will close on 9 February next year
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NewsInsurance Task Force launches framework to improve disaster resilience
Lloyd’s chair says ‘the global insurance industry has a crucial role to play in addressing the needs of developing countries’
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NewsTrade bodies band together to create standardised product governance assessment form
Without cross-market guidance, the new rules had the potential to ‘snowball into an unmanageable administrative burden’ for insurance market participants, says LMA head of regulatory affairs
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Sponsored ContentSupporting brokers following the FCA’s 2022 fair value reform deadline – Close Brothers Premium Finance
Elliott Hayes, Close Brothers Premium Finance’s commercial sales director, explains how the premium finance provider is helping brokers ahead of the FCA’s final deadline for its general insurance pricing reform
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AnalysisBriefing: Brokers are desperate for a more public FCA - will it oblige?
The insurance industry is desperate for the FCA to become more public
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NewsFinancial services regulators flag 134 upcoming regulatory initiatives
Regulators acknowledge that although ‘the burden of the current regulatory pipeline’ is ‘significant’, it is also ‘appropriate’
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NewsRegulators join forces in publishing climate change adaptation reports
The FCA’s responsibilities include evolving its environmental, social and governance strategy
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NewsJohn Lewis pulls home insurance advert after FCA calls it ‘potentially misleading’
The retailer will be contacting all customers that bought the product while the advert aired to ensure there is no confusion
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NewsInsurers’ biggest threats are crime, regulation and technology – PWC
The research further revealed regulatory concerns about insurtechs’ safeguarding processes
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NewsSpike in FOS referrals reveals motor cover is most complained about insurance product – Insurance DataLab
Understanding the make up of complaints will be key in preparing for the regulator’s fair value spotlight, according to data service co-founder
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NewsFCA calls for Online Safety Bill extension in latest report
The regulator’s chief executive says the FCA is ’committed to being more innovative, assertive and adaptive’
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NewsSix insurance associations sign open letter to MP ahead of Autumn Budget
The letter argues that the funding proposed is ’extremely important’ in continuing the trend of the UK being a leader in insurance innovation
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NewsSharp decline in motor claims following MoJ release of OIC data
For the year as a whole, just under 300,000 motor claims were registered in 2021 compared to 350,000 between June and September the previous year
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NewsNew OIC data reveals only 1% of claims settled
The insurance industry largely welcomes the new Online Injury Claim portal, but it is still early days as the data reveals that 4,331 claimants are unrepresented
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AnalysisMichael Sicsic: FCA’s clamp down on price walking means industry needs to ‘get its act together’
Managing director says the complexity and difficulty of the FCA’s pricing rules may push smaller brokers to seek acquisitions from bigger firms
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NewsBrokerFest 2021: Regulation bar will be ‘a lot higher’ for brokers selling to SMEs
Industry experts predict more regulation to be incoming around insurance for SMEs as the regulator wants these firms to be treated ‘like personal lines customers’
