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Regulation

tribunal

Tribunal reverses £17.9m Compare the Market anti-competition fine

2022-08-09T09:25:00+01:00By Katie Scott

Tribunal panel rules that prior Competition and Markets Authority decision was based on ‘no reliable evidence’

allianz broker hub simon mcginn

Simon McGinn: Clarifying ‘challenging’ BI wordings could lead to ‘narrowing the cover’

2022-08-08T10:15:00+01:00By Katie Scott

Insurers must help brokers carve out more time to have ‘critical’ client conversations around what policies do and do not cover, says commercial lines chief executive

regulation

FCA confirms new rules on oversight of appointed representatives

2022-08-08T07:48:00+01:00By Yiannis Kotoulas

The imposition of the new requirements highlights a ‘structural weakness in the present regime’, says financial services partner

steps implementation extension deadline act now

Biba welcomes consumer duty implementation extension

2022-08-01T08:31:00+01:00By Yiannis Kotoulas

The trade body has also questioned a ‘lack of prescription’ within the new rules and invited firms to make use of its template fair value assessment solution

percentage hit, inflation

Admiral and Direct Line face double-whammy margin hit in 2022 – Bloomberg Intelligence

2022-08-01T07:12:00+01:00By Isobel Rafferty

Regulation implementation and inflation pushing up claims’ costs are among the causes

property commissions

Proposed Leasehold Reform bill a ‘red flag’ for industry over property insurance commission disclosures

2022-07-29T14:16:00+01:00By Yiannis Kotoulas

‘Millions of people’ could be insured ‘for a lot less’, says financial compliance firm principal

Whiplash reforms April 2021

Personal injury motor claims continue to decline, says government’s CRU data

2022-07-28T14:27:00+01:00By Yiannis Kotoulas

Nearly a quarter of a million claims have ‘disappeared’, according to executive director

financial regulation consumer duty

FCA publishes final rules for Consumer Duty regulation

2022-07-27T13:16:00+01:00By Yiannis Kotoulas

The regulator has extended its implementation timeline for its ‘step change’ Consumer Duty principle by three months, but company boards must agree their implementation strategies by October 2022

mind the gap

Briefing: FCA must focus next on customers’ expectation gap following dual pricing ban

2022-07-27T10:58:00+01:00By Katie Scott

Consumer group managing director calls expectation gap the ‘number one problem in insurance’, over and above ‘sideshow’ price walking that the FCA has been focused on

e-scooter vehicle trial zone

ACSO calls for mandatory insurance of e-scooters

2022-07-25T17:00:00+01:00By Yiannis Kotoulas

The association has laid out a 10-step plan for the effective and safe legalisation of the micromobility vehicles in the UK

blowing the whistle

Reported general insurance conduct rule breaches are ‘on the low side’ – Sicsic Advisory

2022-07-25T11:39:00+01:00By Isobel Rafferty

Many Lloyd’s and London market brokers have failed to return required annual rule breach reports

Financial markets

UK government publishes Financial Services and Markets Bill

2022-07-22T12:04:00+01:00By Yiannis Kotoulas

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

All Regulation

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