This article explores the implications of climate change for the UK insurance sector.
Insurance Brokers
FCA annual report reveals record rise in criminal charges
The recently published 2024 FCA annual report revealed the regulator brought a record number of criminal charges against individuals and more than doubled the number of firms it stripped of regulatory approval, supporting claims it aims to increase and expediate enforcement action.
FCA publishes an Upper Tribunal ruling, reinforcing commitment to gatekeeping senior roles under SM&CR
This article explores how a recent case highlights the FCA's enhanced gatekeeping role under the SM&CR, and how its ability to retain and utilise historical data supports its commitment to preventing individuals with questionable conduct upholding senior roles.
Building insurance complaints soar to 10-year high, according to FOS
FOS reveals a "concerning" rise in the number of complaints about home and business building insurance, as figures reach a 10-year high.
FCA calls on insurers and brokers to demonstrate fair value and good customer outcomes
Following a thematic review, the FCA has identified widespread shortcomings in general insurance and pure protection manufacturers’ and distributors’ product and oversight arrangements, noting it is “very disappointed” that many firms are failing to meet their regulatory obligations under PROD 4 and ensure and evidence that products offer fair value to customers.
Cutting out the Jargon – Avoiding Corporate Language in the Workplace and Beyond
In this article, we discuss how jargon can be a language barrier for individuals within the industry as well as ways for mitigating jargon from the workplace and communication with customers.
Majority of Consumers Experience Price Increases on Renewal
Research published by the Financial Services Consumer Panel reveals that the majority of consumers experience a price increase for their insurance renewal across products, but that 85% of consumers who negotiated renewal price secured a reduction.
UKGI completes a successful conference season
UKGI has completed a successful conference season exhibiting with BIBA, amii, Bravo Network Airmic and the MGAA.
Active Listening: The Key to Success for Insurance Agents
Active listening plays a crucial role for insurance agents. This article outlines the essence of active listening, which goes beyond just hearing and involves understanding the client’s true needs and motivations.