Compliance & Regulation
IP Solvency II changes mean ‘fattening margins’ for larger insurers – National Friendly
Customers will only benefit when extending matching adjustments (MA) to allow in-payment income protection (IP) liabilities under new Solvency UK rules is made accessible to smaller insurers, "spurring price competition rather than...
Read moreBSI develops code of practice for NHS and private healthcare providers
The British Standards Institution (BSI) has developed a code of practice for the NHS and private healthcare providers of all sizes. The BSI said the code of practice, the first ever international...
Read moreFCA not looking to ban either commission or brokers – Mills
The Financial Conduct Authority (FCA) can take many forms of action against brokers that do not charge fair commissions - but the banning of commissions or brokers is off the table, according...
Read moreGovernment commits to £30m fund to speed up adoption of tech in NHS
Government is committing to a new £30m fund to speed up the adoption of technology in the NHS which could include new tools to detect cancer sooner. But the Society of Radiographers...
Read moreLeaving intended beneficiary no right to claim ‘like selling a car without a steering wheel’
Leaving the intended beneficiary of a life insurance policy no right to claim is like selling a car without a steering wheel. This is according Ruth Gilbert, partner at Insuring Change, (pictured...
Read moreFCA terminal illness review criticises slow claims, poor communication, end of term exclusions, use of CMOs and 12-month prognosis
The Financial Conduct Authority (FCA) has raised serious concerns about several elements of how insurers are addressing terminal illness benefits attached to life insurance policies. The regulator strongly criticised insurers for the...
Read moreFCA chief blames firms’ ‘caution’ for not advising enough people and wants debate over AI insurance impact
Financial Conduct Authority (FCA) CEO Nikhil Rathi has blamed the “caution” of firms for not providing “good and affordable” financial advice to enough customers. He also highlighted that there needs to be...
Read moreSeizing IPMI growth opportunities as short-term products, virgin schemes and executive benefits rise – analysis
It's not just high profile footballers choosing to leave for Saudi Arabia; international private medical insurance (IPMI) advisers too have noticed a large uptake of workers moving to the Kingdom. While IPMI...
Read moreSanté Partners unveils AR academy to extend CPD for Consumer Duty
Santé Partners has launched an Academy of Excellence aimed at knowledge sharing between its appointed representatives and increasing their hours of continuing professional development (CPD) to meet Consumer Duty. This is according...
Read moreInsurance ARs halve in decade as FCA targets PII and ‘weak recruitment’ oversight
The number of appointed representative (AR) firms operating in the insurance sector has halved in the last decade, with a sharp drop in the last two years. The Financial Conduct Authority (FCA)...
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