While acknowledging the complexity around Covid-19 business interruption claims, an FCA representative has said he believes payments could have been made quicker following the January test case judgment.
The Financial Services Compensation Scheme has issued final levies for 2021/22 of £73.8m for brokers and £189.8m for insurers, down significantly on initial estimates but still up on this year’s bills.
John Glen MP, Economic Secretary to the Treasury, tackled insurance premium tax, broker Financial Services Compensation Scheme levies, cladding, Brexit and more in his keynote address to the British Insurance Brokers’ Association’s 2021 conference…
Ahead of the British Insurance Brokers’ Association hosting its annual conference online for the first time ever, Post caught up with CEO Steve White to discuss what virtual attendees will see and hear about, the trade body’s ongoing lobbying and his…
The takeover by Intact and Tryg has cleared all the regulatory hurdles and should complete at the end of May, RSA confirmed as it posted a combined operating ratio of 86% for the first quarter of 2021.
A freedom of information request by Post to the Financial Conduct Authority has revealed the watchdog is taking an average of 129 days to make a decision on authorising firms applying for permission to trade as general insurance brokers selling non…
When it comes to working with a third-party administrator for property claims, how far should an insurer go? Whether it is taking on service from start to finish or only focusing on key elements such as the repairer network or emergency call out facility…
Handl Group chief commercial officer Chris Chatterton considers the effect of whiplash reforms on legal expenses insurance.
Experts have warned of the potential for fines and regulatory permissions being removed as the Financial Conduct Authority contacted 2800 firms about their directory persons information after the deadline for submissions passed on 31 March.
Tony Tarquini, director of insurance EMEA for Pegasystems, considers the IT hurdles that insurers face in getting ready for pricing practises reforms – and why he believes they need to be ready to make rapid changes in the future.
The Financial Conduct Authority has published its latest fees update, with a consultation set to run into May.
The Financial Conduct Authority is looking to recover £7.5m of external legal costs through a business interruption insurance special fee levied on insurers.
Abacai has an 'opportunity to drive' insurtech consolidation but will not pay over the odds, says co-founder Hay
Private equity-backed digital insurance venture Abacai will not be a “consolidator for consolidation’s sake”, although it is inevitable that there will be activity in the insurtech space, one of its co-founders has told Insurance Post TV.
Blog: Loss adjusters and loss assessors face enhanced professional indemnity risk after BI test case verdict
Professional indemnity claims against loss adjusters are rare, and against loss assessors they are even rarer, but there is a cauldron brewing following the business interruption test case, Trafalgar Risk Management head of marketing Bill Lumley cautions.
The Financial Conduct Authority has launched its fees consultation and hit out at appointed representative drivers of harm, as it publicly censured Alsford Page & Gems for AR oversight breaches relating to the sale of extended warranty insurance.
Nausicaa Delfas will serve as interim CEO and chief ombudsman of the Financial Ombudsman Service, taking over from Caroline Wayman.
Claire Dawson, partner at specialist employment law firm BDBF, considers how employers are using non-disclosure agreements – and what insurance employees should do if they have been harassed or discriminated against at work.
Post tracks test case related Covid-19 business interruption claims payouts according to Financial Conduct Authority figures.
‘Reporting gap’ warning as less than 1% of intermediaries reported conduct breaches under first year of SMCR rules
Last year just 15 insurance brokers or intermediaries reported conduct rule breaches under the Senior Managers & Certification Regime, a freedom of information request has revealed.
With no post-Brexit equivalence or passporting regime available to UK brokers, they have had to explore other avenues to continue to trade across the European Union. David Worsfold explores the options open to intermediaries and the benefits they can…
Lawyers appointed as Tokio Marine Kiln faces BI group action lawsuit spearheaded by Marco Pierre White business
Tokio Marine Kiln is facing a group action lawsuit from businesses in the hospitality sector, including Marco Pierre White's Black and White Hospitality, that claim their policies provide cover for losses suffered during last spring’s Covid-19 lockdown.
As the anniversary of the first national lockdown where Prime Minster Boris Johnson told us to “stay at home” on 23 March 2020 came around Post spoke to host of insurance workers – the home-schooling parent, the mental health expert, the medical…
Compliance consultants have highlighted the dangers for brokers of buying professional indemnity insurance with Covid-19 exclusions, warning that the Financial Conduct Authority can suspend permissions if firms do not get the right cover
The World Economic Forum identified biodiversity loss as one of its top five global risks earlier this year. Airmic deputy CEO and technical director Julia Graham argues that taking action is in businesses' interests as well as the planet's.