Group Risk
FOS commits to not applying Consumer Duty retrospectively
The Financial Ombudsman Service (FOS) has reassured firms that it will not apply the incoming Consumer Duty rules retrospectively. This is according to Simon Rawle, ombudsman leader at the FOS who was...
Read moreFears about Consumer Duty implementation speed have been ‘well heard’ – FCA
The Financial Conduct Authority (FCA) has said concerns raised by the industry about the speed of implementation of its incoming Consumer Duty have been “well heard”. While the regulator acknowledged many communications...
Read moreFCA argues Consumer Duty goes ‘significantly beyond TCF’ and warns insurance market ‘don’t put your feet up’
The Financial Conduct Authority (FCA) has defended its flagship Consumer Duty policy as going ‘significantly beyond’ Treating Customers Fairly (TCF) as it aims to create a culture shift within the industry. The...
Read moreVitality: Higher physical activity increases cancer survival chances
The level of a cancer sufferer's physical activity can have a direct, positive impact on their survival chances, according to data from Vitality. The insurer’s South African parent company Discovery analysed 88,000...
Read moreHealth and protection advisers escape FSCS levy hit as pool fund dropped
Advisers operating in the health and protection insurance and mortgage sectors have escaped the prospect of picking up the massive costs of failures in other parts of the financial services industry. In...
Read moreRegulators developing metrics to monitor burden on industry
Regulators from across the spectrum have agreed to develop metrics to measure the regulatory burden on the financial services industry. The move comes after leaders and senior representatives from the Financial Conduct...
Read moreOneglobal Broking appoints Colombia and Ecuador country manager
Oneglobal Broking has appointed Luis Miguel Galvis as country manager for Colombia and Ecuador. Galvis was previously head of financial lines and surety at Howden Re in Colombia. Prior to this, he...
Read moreL&G partnership aims to measure productivity impact of employee wellbeing
Legal & General has entered into an exclusive partnership with Fruitful Insights to gauge the costs associated with impaired wellbeing and productivity and the factors underpinning these losses. Based on this intelligence, intermediaries...
Read moreProtection payouts hit record high as Covid claims double – ABI
Protection claims payouts hit a new record in 2021, according to data from the Association of British Insurers (ABI) and Group Risk Development (Grid). The data reveals £6.8bn was paid out in...
Read moreFCA slams crypto sector, says FSCS should not cover losses and urges government to learn from pension freedoms failure
The Financial Conduct Authority (FCA) has said it does not believe the financial services industry should have to take on the costs of failures from firms promoting cryptocurrencies and assets. It also...
Read moreHAVE YOU READ?
MOST POPULAR
-
Aviva expands ChatGPT app for life insurance customers
-
PMI providers covering complication-cutting weight loss treatment ahead of surgery would ‘clean up’ – Schofield
-
One of my biggest fears is the sector rowing back on inclusivity and we lose progress – Steve Collinson, Zurich
-
Guardian adds critical illness and combined life value options
-
PMI-funded hospital admissions hit another record high – PHIN
