The trade body outlines ‘six priority initiatives’ through which the insurance industry’s ‘competitiveness agenda can start to be established and measured’
The secretary of state is also ‘keen to review’ the insurance industry’s role in contributing to ‘high premiums’ for leaseholders
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
A ruling in this case could represent a ‘new test case’ for business interruption claims
Firms looking to complete acquisitions could face waits of over two months for regulator approval
The regulator’s executive director of consumers and competition emphasised that brokers must not recommend a product based on their own remuneration, although ‘high prices may sometimes be appropriate’
Despite some alignment in thinking, Biba’s chair still believes the regulator needs to take ‘a long, hard look at its own responsibilities and approach to our low risk sector’
Achieving balance between the regulator’s 4,500 staff and the 55,000 firms its regulates is a challenge, notes the executive director
Quick-fire technology developments mean the government is at risk of ’regulating the previous innovation, rather than the next’
The regulator is collecting data from the insurance industry to help inform ‘potential interventions’, says executive director for consumers and competition
Inquiry calls for ‘broader reassessment of regulatory culture’ as current London market oversight is described as ‘inflexible’ and ‘unnecessarily complex’ by committee chair
This means consumers are enjoying the lowest average costs for nearly seven years