Regulation – Page 7
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NewsDifferences in how FOS and insurers treat coverage disputes causing industry ‘irritation’
The compensation service prefers to review cases through a non-disclosure lens, rather than consider average clauses, says law firm partner
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NewsNews High Five: Catch up on the biggest stories this week
Insurance Times rounds up the biggest stories from this week (29 July to 2 August 2024)
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IT InterviewPaul Howley: From account executive to startup broker
’I have a family to look after as well, therefore it was difficult to just start from scratch,’ says managing director
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NewsFirms ‘still have work to do’ to improve service a year on from Consumer Duty
’Consumer Duty really should be a win for both businesses who want to work more efficiently and effectively,’ says chief operating officer
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News AnalysisBriefing: As the FCA looks to simplify its rules, what does this mean for Consumer Duty?
’This call for input will help to ensure our regulation remains effective, streamlined and comprehensible, maximising the duty’s benefits,’ says regulator
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NewsFCA launches review to streamline rulebook after Consumer Duty
’We now want to seize the opportunity of the duty and the move to a clear outcomes-based approach to streamline our rulebook,’ says chief executive
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News‘Pricing is under pressure’ for cyber cover as SME demand grows – Swiss Re
Reinsurer’s UK and Ireland chief executive believes a public-private partnership focused on cyber cover would be ‘beneficial’ for insurance industry – especially to mitigate possible risk aggregation
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NewsMost vulnerable customers see no service improvement since Consumer Duty
’It’s particularly concerning that vulnerable customers have not seen an improvement,’ says chief executive
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News AnalysisBriefing: What are the Labour party’s plans for insurance?
A new party leader is occupying Number 10 and change is afoot in the UK as the new prime minister reviews regulation and shares streamlining plans
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NewsClass action lawsuit launched over ‘national scandal’ of hidden insurance commissions for leasehold buildings
’The plight of leaseholders and their unconscionable and unlawful treatment by some freeholders is nothing short of a national scandal,’ says leading solicitor
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News AnalysisLabour’s AI strategy – and its potential impact on insurance
’The balance between fostering responsible AI development and hindering innovation is critical’ when it comes to new regulation, says chief technology officer
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NewsInsurance Times wins Story of the Year at Biba’s Journalist and Media Awards: Read it here
The story covered the UK government’s indication that it would to ban managing agents and freeholders from taking commissions when arranging buildings insurance
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News AnalysisOpinion: Has brand stacking replaced the loyalty penalty?
Research foundation feels some insurers are ‘committing the sin of omission’ when promoting tiered products
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NewsHigh Five: Catch up on the biggest stories this week
Insurance Times rounds up the biggest stories from this week
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NewsEx-broker loses seat in general election
He was among many Conservatives to lose their seats this year
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NewsAs Labour wins general election, what has it said about insurance?
’Change begins now,’ says new prime minister
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News AnalysisBriefing: Ifed adopts a partnership approach to moped crash for cash scams
Detective inspector Marek Coghill of the City of London Police’s Insurance Fraud Enforcement Department outlines how the unit is seeking to disrupt moped linked staged collisions
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News AnalysisDoes premium finance need fixing?
Are premium finance products fighting underinsurance or providing ‘pain’ for ‘customers who are the least financially resilient’? Insurance Times takes a closer look…
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NewsIndustry’s ‘pursuit of a perfect price’ penalising certain groups in society – Fairer Finance
’If insurers want people to trust them, then we need to have some clarity about what’s going into their [pricing] models and how that’s being used,’ says managing director
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News‘Many firms need to make improvements’ as FCA publishes Consumer Duty outcomes review
Few firms had been able to provide clear evidence of where monitoring outcomes had led directly to action around improving these outcomes
