All FCA articles – Page 4
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News AnalysisCould the debanking scandal cross over into insurance?
The FCA said that it ’would not consider it appropriate to cancel a policy purely on the basis of a policyholder’s views’
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NewsDirect Line Group agrees to business review after overcharging customers in FCA first
’DLG will carry out a review to identify all instances where a customer has been overcharged,’ says FCA
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News AnalysisTechTalk: ‘Licensing process is a maze’ for insurtechs tied up in complex regulation
For insurtechs applying for a carrier licence for example could hold options but due to complicated and lengthy approval periods it may not be suitable for all, which means Gibraltar remains popular
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NewsConsumer Duty still causing ‘headaches’ as regulation comes into force
However, head of consumer strategy says there can be ’really good benefits’ in the long-term
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NewsFCA publishes regulatory approach to AI and big tech
’Any regulation must be proportionate enough to foster beneficial innovation,’ says chief executive
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News AnalysisBriefing: FCA surprised at high commission levels for multi-occupancy buildings insurance
It seems the ship has well and truly sailed on the sector effectively self-regulating on this issue
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NewsFCA issues stern warning as it clamps down on home and motor insurers
’We found too many examples of customers not receiving the service they’re entitled to,’ says executive director
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NewsInsurers to take part in Bank of England’s new system-wide exploratory scenario exercise
’We regularly run scenario exercises with a variety of firms, which support our efforts to protect and enhance the stability of the UK financial system,’ says deputy governor
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NewsMillions of consumers cutting insurance cover amid cost of living pressures
The financial services industry has a ‘vital role to play in supporting people during these challenges times’, says regulator
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News AnalysisTechTalk: UK ‘lagging behind’ with R&D tax relief in AI ‘Wild West’
Clawing back R&D tax relief can be crucial for insurtechs and startup brokers but compliance around it needs improving if the sector is to take advantage of the potential of AI
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News AnalysisUnpacking the controversial issue of an ‘ethnicity penalty’ in car insurance premiums
Insurance Times speaks to industry experts following Citizens Advice revealing that POC are paying more for car insurance than their white counterparts
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NewsFCA sets out new protections for leaseholders in multi-occupancy leasehold buildings insurance market
‘We won’t hesitate to taker further action if brokers don’t comply with our rules,’ says regulator
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NewsHeavy Consumer Duty investment among FCA priorities for coming year
In its business plan, the regulator says it will invest £5.3m in Consumer Duty to ensure it is ’embedded effectively’
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News AnalysisIn Focus: Consumer Duty presents ‘huge opportunity’, but implementation has not been smooth
With the 31 July 2023 deadline fast approaching, can the general insurance sector properly grasp the opportunities new regulation offers?
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NewsFCA ‘nowhere to be seen’ as people of colour continue to pay more for motor insurance
’There is a truly worrying link between ethnicity and insurance costs,’ says chief executive
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NewsFCA appoints new enforcement directors as it looks to become ‘more assertive’
The new executive committee will bring a ‘highly complementary skillset,’ says chief executive
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NewsFCA sends Consumer Duty survey to cross-sector firms
The regulator is seeking views on its new regulatory framework prior to implementation in summer
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NewsInsurtech sector breathes sigh of relief following SVB UK HSBC rescue deal
The government is ‘working urgently’ to limit the potential fallout, says UK prime minister
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NewsBackchat March 2023
Insurance Times shares the best industry anecdotes from the last month, delving into the world of obscure high net worth art. What has the insurance industry been up to of late? You heard it here first…
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NewsBrokerFest 2023: Consumer Duty ‘not going anywhere’ but GI sector has head start on other financial services – FCA
’Quite a bit of the essence of Consumer Duty is already present in the insurance broker market,’ says regulator’s director of general insurance
