The Bank of England’s forthcoming climate stress tests of the UK financial services sector have been designed to provide a view of “the size of the adjustment that is needed”, regulators told an industry summit on Thursday.
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…
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…
Whiplash rules have edged closer to their 31 May commencement, as Parliamentary Under-Secretary of State for Justice Alex Chalk said the government and regulator will hold insurers' "feet to the fire" on consumer savings if necessary.
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.
The government has announced “self-driving” vehicles could be used on the UK roads this year, as insurers and vehicle experts warned that misclassification of automated lane keeping systems could lead to "misuse" of the technology with potentially tragic…
Parliamentary under-secretary for the Ministry of Justice, Lord Wolfson has said it is “better late than never” as whiplash regulations passed through the House of Lords with changes to small claims track limit plans.
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 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.
Post tracks test case related Covid-19 business interruption claims payouts according to Financial Conduct Authority figures.
Scotland's redress Bill was passed by the Scottish parliament in March and sets out a fresh way for residential care abuse survivors to access compensation. But attempts to involve insurers and encourage organisations to contribute have left it with a…
‘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…
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…
Stephanie Smith, chief operating officer at Allianz Insurance, assesses how the focus on operational resilience has taken old school business continuity planning and added helpful and important extras.
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.
A coalition of brokers working with Hiscox was just two weeks away from solving the problem of Covid-19 business interruption claims but the court case cut the legs off the solution, Ardonagh CEO David Ross has claimed.
The Northern Irish Department of Justice intends to push its minus 1.75% personal injury discount rate change through by the end of May.
In February the Supreme Court ruled that Uber drivers are considered to be workers rather than self-employed, with potentially serious implications for insurance, says Stuart Toal, Allianz casualty account manager, technical.
The Financial Conduct Authority is set to grant firms until the end of 2021 to implement some of its pricing practices reforms.