Protection
FCA pressures insurers over adviser commission levels
The Financial Conduct Authority (FCA) has told insurers they should be examining the amount of commission paid as part of the distribution process when complying with the incoming Consumer Duty. The issue...
Read moreFOS 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 more‘I’ll remember that call for the rest of my life’ – why advisers need to be equipped for harrowing calls
The protection industry must do more to help brokers effectively tackle harrowing calls where customers talk about ending their own lives, according to Alan Knowles, managing director at Cura Financial Services. Knowles...
Read moreConsumer Duty and marriage figures show importance of setting up cohabitee protection properly – Timpson
Incoming regulation and a steep decline in marriages mean it has never been more important for advisers to ensure protection policies are properly set up for cohabitee partners, according to consultant Johnny...
Read moreAegon pays out £139m in protection benefits
Aegon paid out £139m across all protection benefits last year, according to individual protection claims data for 2021. The data reveals the provider helped more than 1,600 families and businesses in 2021,...
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...
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