All FCA articles
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NewsAfter Stonegate: Unpicking Covid-19 BI aggregation potential
Why reinsurers should look to recent Covid-related judgments on the direct side in an effort to resolve uncertainty
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NewsUK regulations have ‘suffocated’ London’s competitive edge
The news comes as Prime Minister Liz Truss is set to announce sweeping reforms to the financial services industry
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NewsLiz Truss moots FCA and PRA merger
The frontrunner to be next UK prime minister has pledged a shake up of the City of London regulators
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NewsLloyd’s receives approval for second PCC
The second London Bridge PCC (LB2) will offer a number of extensions in the coverages it can write
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NewsFCA hits JLT Specialty with £7.8m bribery fine
Insufficient controls meant that ‘money flowed into the pockets of corrupt officials’, says regulator’s director
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NewsFCA urges firms to beef up cybersecurity amid Ukraine tensions
Businesses must take a more active ‘defence-in-depth’ approach to combat ransomware reprisal attacks
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NewsFCA chair plans to step down in spring 2022
Chair of the FCA and Payment Systems Regulator Charles Randell wrote to chancellor of the exchequer Rishi Sunak on Friday (15 October 2021), notifying him of his plans to step down from his leadership positions in spring 2022.
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NewsKPMG warns of ‘uneven playing field’ ahead of regulator’s product governance rules
Global network for professional firms, KPMG has warned that there could be an “uneven playing field” in insurance ahead of the introduction of the FCA’s product governance rules on 1 October.
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NewsFCA updates GI pricing rules following stakeholder feedback
The FCA has issued an update to its incoming pricing practice changes for the motor and home insurance markets, based on feedback from stakeholders.
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NewsFCA to allow rolling applications for regulatory sandbox
The FCA will now be allowing rolling applications for its regulatory sandbox.
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NewsBriefing: Fair value ‘fault line’ underpins FCA’s GI pricing proposals
The FCA may have ‘unleashed the concept’ around fair value, but now firms have to interpret this and embed it within their business practices, which isn’t an overnight job
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NewsFCA publishes policy statement confirming price walking remedies
Law firm partner says the new rules to tackle price walking give the ‘FCA teeth to enforce the requirements against those companies who have been less willing to change’
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NewsNew premium finance rules – what does it mean for the industry?
The FCA’s new rules for premium finance aim to do away with high interest being charged for customers that want to spread the cost of their insurance premiums over a few months.
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NewsBriefing: We are all now worried about the FCA
Brokers are losing faith in the FCA amid rising fees and levies against a backdrop of carrier failures
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NewsFCA extends pricing remedy implementation until end of 2021
The regulator has confirmed the amended timetable to ensure firms can ‘plan their change programmes effectively’, however the CII believes ‘this may not be enough time for firms to get all practices in place’
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NewsInsurers paid out £472m in interim and final BI claim payouts following test case – FCA
The regulator calculated that 10,207 BI policyholders out of the 21,140 who have had claims accepted have received at least an interim payment
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NewsMore than a fifth of adults trust insurance firms less because of Covid-19
To rectify the negativity surrounding the business interruption test case and the resulting impact on trust in the sector, ‘there is clearly work to be done at an industry level’ says Sicsic Advisory MD
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NewsFCA fair pricing report will ‘reduce profitability’ for insurers – Fitch Ratings
Furthermore, the home insurance market will be more affected than motor insurance as around ‘80% of premiums comes from renewal business’
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NewsBriefing: Has the drive for transparency come too late to repair reputational damage?
Discussions around greater transparency in policy wordings and clarifying coverage have become a top priority following the FCA’s business interruption test case – is this a ‘better late than never’ scenario or has the hit to the sector’s reputation crippled any chance of forging customer trust?
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NewsPay business insurance claims or face enforcement, UK watchdog says
Insurers face enforcement action if they don’t pay up as soon as possible on business insurance claims following a landmark court ruling, Britain’s Financial Conduct Authority said on Friday.