Compliance & Regulation

Insurers and financial services providers use price comparison websites because they are a relatively cost-effective way of acquiring customers, Moneysupermarket chief executive Peter Duffy has argued. However, Financial Services Consumer Panel member...

Financial education, making protection a ‘national priority,’ and keeping on with Keeping Britain Working should be prioritised by the UK’s new prime minister. The long held goal of tax incentives to encourage...

UK regulators are looking to replicate measures typically in place around the world in their approach to captive insurance for employee benefits, according to trade body Grid. The body was also reasonably...

As few as 40 organisations out of a possible maximum of 850 will use the new UK captive regime, according to estimates from the Financial Conduct Authority (FCA) and Prudential Regulation Authority...

The general insurance sector can learn from their protection peers’ example with progress made on claims disclosure. But protection providers should go even further by publishing the average time taken to pay...

Employee benefits such as group life and health insurance schemes will only be permitted on a reinsurance basis under the UK’s new captive insurance regime with another primary insurer being required. Meanwhile,...

The Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have proposed that captives be excluded from Consumer Duty requirements. The proposal features in the bodies’ consultation on a tailored and...

The Financial Conduct Authority (FCA) has challenged firms to improve how they oversee third parties delivering products and services on their behalf. The call comes as the regulator identified a number of...

Advisers operating in the health and protection insurance industries will not now be charged with funding the regulator’s advice guidance boundary review (AGBR). Fee rates for advisers will also be trimmed slightly...

The Chartered Insurance Institute (CII) has launched a cross-sector vulnerability data sharing taskforce to help reduce the number of repeat disclosures required of vulnerable customers across the distribution chain. It brings together...