Individual Protection
ABI sets minimum targets for members signed up to D&I initiatives
The Association of British Insurers (ABI) has set a minimum target for the number of its members signed up to various diversity at work initiatives. The move is part of a multi-year...
Read moreAssessor sees ‘big shift’ in FOS complaints needing further work
There has been a "big shift" in cases where the Financial Ombudsman Service's (FOS) independent assessor has had to make recommendations or issued learning points to the regulator following complaints about its...
Read moreWorkplace benefits costs and sickness absence rise at FOS
Sickness absences and the cost of workplace benefits both rose at the Financial Ombudsman Service (FOS) in the last financial year – however overall employee costs dropped by £16m. Sickness absence was...
Read moreFOS hit only two of six key outcome targets but slashes case backlog
The Financial Ombudsman Service (FOS) hit just two of its key outcome targets over the last financial year, however it did reduce its caseload substantially from 163,000 to around 110,000 at the...
Read moreFCA not expecting judicial review of Consumer Duty
The Financial Conduct Authority (FCA) has said it does not expect a judicial review of its Consumer Duty after a question posed at its annual public meeting last month suggested the regime...
Read moreNFP enters Irish PMI market with broker acquisition
Benefits consultant NFP has expanded its health insurance offering into Ireland with the acquisition of Dublin-based health and life insurance adviser Tailored Finance Limited. The move marks NFP's first healthcare-focused acquisition in...
Read moreAdvisers must warn cohabitees about risk of losing death claim payments – Gilbert
Advisers and insurers must warn their cohabiting customers about the "potentially ruinous" risk of beneficial payments going to other people after the government rejected reforms to cohabitee rights. Ruth Gilbert, partner at...
Read moreSupporting vulnerable customers is about data consent – Gething
To fulfil Consumer Duty regulatory requirements, firms in the financial services sector will need to hold data about the vulnerability of their customers. And to use this data effectively, firms will need...
Read moreFOS rules out charging CMCs in funding overhaul
The Financial Ombudsman Service (FOS) is to further consult on changes to its funding formula next month, but has ruled out charging claims management companies (CMCs) and other professional representatives or charging...
Read moreAutumn Statement 2022: Freezing employer NIC thresholds raises £25bn in tax
Employers will pay an additional £25bn in National Insurance Contributions (NICs) over the next five years, chancellor Jeremy hunt has announced. Hunt confirmed the threshold at which employers begin paying Class 1...
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