Insurance Brokers

The FCA’s consultation into general insurance pricing practices has now closed. Based on feedback received, the regulator will extend the implementation period should new rules be introduced.

The FCA’s consultation on General Insurance Pricing Practices has closed. Kirk Ford looks ahead to the next steps and what this may mean for insurance brokers.

The Supreme Court has ruled in the Covid-19 Business Interruption test case.  The decision provides definitive guidance on the operation of business interruption insurance policies. What does this mean for insurance brokers?

In December, the Financial Ombudsman Service (FOS) published its public consultation on its proposed plans and budget for 2021/22. The consultation highlights the challenges the FOS has experienced and how Covid-19 has impacted its work and plans for the next two years.

The FCA is launching a short consultation on guidance to help policyholders, insurance intermediaries and insurers judge how the presence of Covid-19, in a particular area, can be proved. The guidance will be launched as quickly as possible once the Supreme Court has made its binding judgement in the regulator’s business interruption insurance test case.

The impact of the Covid-19 pandemic has been wide reaching and, in many cases, has had a material impact on the value of the insurance products taken out by customers. By now, firms are expected to have carried out an assessment into product value.

Even though the FCA have extended the SM&CR deadline, it is clear that firms should use the extension to ensure they can meet all the required elements. Find out how RWA can help guide firms through this changing regulatory landscape.

RegData is the FCA’s new platform for the reporting of regulatory data, replacing Gabriel. What do firms need to do to be ready for the move? 

As the Covid-19 pandemic continues to test firms’ operational and financial resilience, Bruce Fayle and Grant Scott explore the need for an ‘iron clad’ approach to client money processes.

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