The FCA’s ongoing work in relation to Appointed Representatives (ARs)
Since the implementation of the new Appointed Representatives regime the FCA has carried out work to assess how well Principal firms oversee and monitor their ARs. Since then the FCA has continued to engage with Principal firms, for example, by carrying out…
FCA Insurance Product Governance ‘Dear CEO’ Letter February 2024
On 23rd February 2024, Matt Brewis, Director, Insurance at the FCA, wrote to insurance manufacturers setting out the FCA’s key observations and concerns about their product oversight and governance arrangements, and whether firms are meeting their…
EU minimum PII limits to be increased in October 2024
Brokers Ireland recently announced, following a review by EIOPA of the Harmonised Index of Consumer Prices (HICP) and a December 2023 European Commission Regulation amendment, that the minimum rate of Professional Indemnity Insurance (PII) that insurance…
Which? urges action on home and motor insurance instalment rates
In publishing the details of research it has conducted into the cost of insurance instalment facilities in the home and motor insurance markets, Which? is urging the FCA to publish a league table of the ‘best and worst’ providers (purely from an APR…
The FCA reviews firms’ treatment of customers in vulnerable circumstances
On 15 March 2024 the FCA announced that it would be conducting a review into firms’ treatment of customers in vulnerable circumstances. The FCA is now writing to firms, conducting the review. In line with its 2021 commitment, it continues the work in this…