Insurers

Following rising concerns about the increase in insurance costs, and the launch of the UK Government’s motor insurance taskforce, the FCA has announced that it will review the premium finance market 

Multiple insurers this week have received a message from activist group Extinction Rebellion: “Make a pledge to get out of new oil, coal and gas – or face actions and protests.”

Following the recent FCA Thematic Review which heavily criticised the industry for failing to adequately take on board the demonstration of fair value, this article explores steps that distributors can take to ensure that they evidence their approach. 

A global survey by UserTesting, a provider of experience research, has revealed that whilst customers preferred to receive guidance from human insurance advisors, AI has potential to mitigate customer challenges and simplify processes, particularly during enrolment and provider selection.

According to research by UK premium finance company, Premium Credit, nearly three out of four personal lines insurance customers use some form of credit to pay for one or more policies, with half using credit to pay for car insurance.

Unethical behaviour can thrive within distribution chains in the insurance sector, particularly if the chains are complex. This article will explore the ways in which ethical risks may arise within the insurance distribution chain, and how this can be mitigated.

This article is the second of a two-part series exploring the FCA’s proposed new Consumer Credit Regulatory Return CR009 and will focus on what the enhanced reporting requirements proposals mean for credit broking firms and the data the FCA proposes to collect.

The Association of British Insurers’ (ABI) reveals its members contributed a record £18.5bn in tax to the UK’s public finances over the last financial year.

This article is the second of a two-part series. Last weeks’ article explored key findings from the FCA’ review in relation to firms’ self-assessments, annual reviews and their monitoring and oversight of ARs; this weeks’ article will explore the reviews findings in relation to firms’ approach to AR onboarding, termination and wind-down.

Get UKGI Insight In Your Inbox

Regular business news and commentary delivered direct to your inbox each week. Sign up here