Consumer group Which? has called for the Financial Conduct Authority (FCA) to step in following its recent report, which revealed that pay-monthly customers were still facing higher insurance costs.
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FCA publishes review report about Principal firms’ oversight of ARs accusing many of taking a “tick-box approach” to compliance with new rules
The FCA has published a review report noting that, whilst Principals’ oversight of ARs has improved, some firms are taking a “tick-box approach” to compliance with the rules and relying on basic information, such as website checks or self-declarations from their ARs, to demonstrate effective oversight.
The Impact of Climate Change on the UK Insurance Sector: A Broker’s Perspective
This article explores the implications of climate change for the UK insurance sector.
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.
UKGI Compliance Welcomes Think Compliance
UKGI Ltd is delighted to announce that it has completed on the purchase of Think Compliance's book of regional clients, effective from the 2nd September 2024.
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.