Compliance & Regulation
IPAW 2024: FCA requiring advisers to recognise vulnerable circumstances – Richards
Consumer Duty rules require advisers to recognise not just vulnerable customers, but potential circumstances that could put clients in a vulnerable position such as a divorce or inheriting a large sum of...
Read moreAI use pushing insurance fraud, say claims handlers
Artificial intelligence (AI) is being used to drive insurance fraud as the number of dodgy claims is on the rise, according to a survey of claims handlers. One in five (19%) of...
Read moreIPT cut should contribute to Labour’s drive ‘from sickness to prevention’ – Broadstone
Labour's drive "from sickness to prevention" should include a cut to insurance premium tax (IPT) to meet surging demand for "timely and preventative" complementary healthcare provided by the private sector. This is...
Read more‘AI-enabled hyper-personalisation’ could make people ‘uninsurable’ – FCA
FCA chief executive Nikhil Rathi has warned that using artificial intelligence (AI) for insurance could leave some customers uninsurable or potentially result in discrimination. Rathi (pictured) agreed that AI could benefit many...
Read moreProtection sector needs to be upfront on limits of IP cover for stress claims – Knowles
Insurers and advisers need to be clearer on the limits of income protection (IP) in covering customers when they fall out of work due to stress. This is according to Alan Knowles,...
Read morePrimis removes protection AR and is liable for up to £3.4m commission clawback
Primis network has served notice on one of its protection-only appointed representative (AR) firms leaving it potentially on the hook for £3.4m in commission clawback. The network, which is part of the...
Read moreUK needs to transform NHS to a ‘proactive’ health creation service – IPPR
A cross-party commission made up of health experts and MPs, has proposed transforming the NHS from a "reactive" 20th century health system to a "proactive" 21st century health creation service. The proposal...
Read morePDG targets insurers over IP mental health claims and unveils adviser guide
The Protection Distributors Group (PDG) has criticised insurers for their handling of mental health claims on income protection (IP) products and appealed for them to improve several areas. The trade body said...
Read moreHow advisers are playing a vital role in making individuals see the value of critical illness cover – analysis
This summer saw a change in government but many of the prevailing trends affecting the nations finances remain, including the ongoing cost of living crisis and a slow mortgage market. Due to...
Read moreFCA protection probe a pre-emptive strike with much to like – Müdd
I cannot be alone in being a little surprised by the FCAs publication of MS24: Market Study into the Distribution of Pure Protection Products to Retail Consumers, following on so closely, from...
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Network compliance heads and insurers told ‘just do it’ on single life policies
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Perci Health hires Katie Crook-Davies as director of strategic accounts
