The Financial Services Compensation Scheme has dropped plans to charge general insurance brokers £5.3m in 2023/24 as it cut the contribution to nil.
The Financial Conduct Authority has revealed the average days taken in 2022-23 to process five key authorisations that affect brokers were within its target timeframes, but there is further to go to hit the statutory requirement for 100% of cases.
In roundtables hosted by Zurich and the APPG for Insurance and Financial Services, brokers flagged their concerns about the regulatory and compliance burden created by the Financial Conduct Authority and claimed it is affecting the financial resilience of the sector.
More than six million people cut or cancelled insurance cover in the six months to January 2023 to save money in the cost-of-living crisis, the Financial Conduct Authority has calculated.
Seven days on from Steve White dropping the biggest Biba Conference bombshell since Boris Johnson announced he was running for the Tory leadership, Jonathan Swift considers who might be among the early front runners to replace White as the trade body’s…
RSA survey pinpoints broker challenge of clients amending or cancelling insurance in light of economic uncertainty
More than three quarters of brokers have seen clients change policies in the past six months as they prepare for further economic uncertainty, according to research by RSA.
Clients cutting back cover is the greatest challenge brokers face right now, according to a survey taken at the Biba Conference 2023.
The British Insurance Brokers’ Association conference will return to Manchester in 2024 for a ninth consecutive year, it has been confirmed.
Former non-executive director of AFL Insurance Brokers, Alec Finch, was awarded the Francis Perkins Award, and Capsule Insurance Services’ Liam Green took home the Young Broker of the Year prize.
Attendees at the British Insurance Brokers’ Association conference in Manchester voted for a period of stability with no regulatory or legislative changes as their top desire in a poll at the event yesterday.
The British Insurance Brokers’ Association has launched a new guide to help brokers explain to customers the dangers of cutting back on cover during these tough times.
Financial Conduct Authority director of general insurance Matt Brewis believes insurance firms are applying a ‘tick box’ approach to fair value assessments.
The Financial Conduct Authority has been urged to reduced the “unacceptably high” regulatory burden faced by insurance brokers.
Steve White, CEO of the British Insurance Brokers’ Association, told the audience of the trade body’s annual conference that he will retire this autumn.
The British Insurance Brokers’ Association has unveiled publications on environmental, social and governance for its members.
In the weeks leading up to the British Insurance Brokers’ Association conference, I had a number of ‘state of market’ meetings with brokers
The British Insurance Brokers’ Association is searching for a new high-net-worth schemes provider, and will be ‘seeking tenders from alternative providers’ in light of Allianz planning to put Home & Legacy into run-off.
The British Insurance Brokers’ Association has renewed its professional indemnity accredited broker contract with Lockton for a further three years.
Regulatory and risk consultancy Sicsic Advisory has become an associate of the British Insurance Brokers’ Association.
Insurance Age met up with the leaders of Biba, the MGAA and Liiba for the Broker Diversity Push campaign to expand on the support and practical assistance being provided to members and widen the discussion on this crucial topic.
The British Insurance Brokers’ Association urged the Government to bring forward legislation to ban the sharing of commission with property managing agents, freeholders and landlords to create a ‘level playing field and avoid an early mover penalty’.
Government minister Michael Gove has given the British Insurance Brokers’ Association one month to drum up an action plan to address ‘completely unacceptable’ practices in the buildings’ insurance market.
LexisNexis Risk Solutions has become the 43rd associate of the British Insurance Brokers’ Association.
The British Insurance Brokers’ Association backed changes the Financial Conduct Authority wants to improve transparency for leaseholders, while also defending broker earnings.