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Premium Credit Limited confirms no changes to premium finance disclosures
Premium Credit Ltd (PCL) has written to insurance brokers saying that, following taking King’s Counsel advice, it will not be imposing any changes to existing customer journeys, and firms should not expect any changes from PCL’s perspective either. This…
FCA publishes updates to its Financial Crime Guide
The FCA has published a Policy Statement introducing changes to its Financial Crime Guide. Handbook Notice 124, sets out the specific sections in the Guide which have been updated. In summary, the updates to the Financial Crime Guide relate to sanctions,…
FCA calls for life insurers to improve bereavement claims handling times
As outlined in its Life insurance portfolio letter: insurance market priorities 2023-2025 from September 2023, the FCA has carried out work to understand how life insurers’ service delivery compares with their intended standards in relation specifically to…
FOS publishes Consultation response and writes to FCA
FOS has published its responses to its Consultations charging Claims Management Companies (CMCs) and other Professional Representatives (PRs), and has written to the FCA with the outcome accordingly. FOS published its second consultation paper in May 2024 on…
HM Treasury publishes the Chancellor’s Mansion House speech
HM Treasury has published the details and a summary of the new Chancellor’s first Mansion House speech. The main focus of the speech is to enhance the UK’s international competitiveness by making it “a global powerhouse for financial services” with a package…
Non-admitted insurers: overseas insurers and UK regulation.
In June this year, the compliance team at the British Insurance Brokers’ Association (BIBA) was approached by the FCA to raise awareness of the Regulator’s concerns in relation to non-admitted insurers. BIBA subsequently published a guide for its members…
