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Archive
ICO issues new detailed subject access requests guidance
Link(s): https://ico.org.uk/about-the-ico/news-and-events/news-and-blogs/2020/10/blog-simplifying-subject-access-requests-new-detailed-sars-guidance/ Context The ICO has published a blog introducing new right of access detailed guidance. The guidance was initially...
FCA Consultation Paper – CP20/21: Breathing space regulations: changes to our handbook
Link(s): https://www.fca.org.uk/publications/consultation-papers/cp20-21-breathing-space-regulations-changes-our-handbook Context The FCA has published a consultation paper relating to some minor changes to its Handbook in relation to some regulations on problem debt...
FCA announces support of financial services bill
Link(s): https://www.fca.org.uk/news/statements/fca-welcomes-financial-services-bill Context The FCA has announced its support of the Financial Services Bill which has been introduced in Parliament. This FCA has welcomed the Bill which it believes will help to...
FCA – Draft guidance published: Coronavirus and customers in financial difficulty: additional guidance for insurance and premium finance firms
Link(s): https://www.fca.org.uk/publication/guidance-consultation/coronavirus-customers-financial-difficulty-additional-guidance-firms.pdf Context The FCA has published draft proposals designed to protect customers who continue to face financial difficulties due...
FCA – Update on Business Interruption Insurance test case
Link(s): https://www.fca.org.uk/firms/business-interruption-insurance#latest-updates https://www.fca.org.uk/publication/corporate/bi-insurance-test-case-final-transcript-2-oct-hearing.pdf...
HM Treasury announces an open consultation and call for evidence in review of pool reinsurance
Link(s): https://www.gov.uk/government/consultations/hm-treasury-review-of-pool-reinsurance-ltd-2020-2021-call-for-evidence Context HM Treasury has published an open consultation and is seeking input in a call for evidence in respect of its relationship with Pool Re...
MGAA releases report titled: “Proceeding with caution: A survey of MGA and insurance carrier opinion on the state of the MGA sector”
Link(s): https://www.mgaa.co.uk/mga-report-2020/ Context The MGAA has released its report titled “Proceeding with caution: A survey of MGA and insurance carrier opinion on the state of the MGA sector”. The report looks at the state of the market and the MGA-insurer...
ABI – Insurers extend pledges of Covid support until December 2020
Link(s): https://www.abi.org.uk/news/news-articles/2020/10/insurers-extend-their-covid-support-to-help-many-of-the--uks-17-million-home-and-27-million-motor-insurance-customers/ Context The pledges made by members of the ABI to support both those working from home due...
FCA shares short video highlighting key points in relation to SM&CR for solo-regulated firms
Link(s): https://www.fca.org.uk/multimedia/fca-explains-certification-regime-and-conduct-rules Context The FCA has published a short multimedia presentation which includes some key points about the implementation of the Certification Regime and Conduct Rules for...
FCA issues update in relation to PS 20/3: signposting to travel insurance for consumers with medical conditions
Link(s): https://www.fca.org.uk/publications/policy-statements/ps20-3-signposting-travel-insurance-consumers-medical-conditions https://www.fca.org.uk/publication/policy/ps20-03.pdf Context The FCA has issued an update on its website in relation to Policy Statement PS...
FCA confirms that East West Insurance Company Limited has entered administration
Link(s): https://www.fca.org.uk/news/news-stories/east-west-insurance-company-limited-enters-administration Context The FCA has confirmed that insurance firm East West was placed into administration on 12 October 2020. Richard Barker and Simon Edel, both of Ernst...
FCA Speech: Regulation of consumer credit – during the pandemic and beyond
Link(s): https://www.fca.org.uk/news/speeches/fca-regulation-consumer-credit-during-pandemic-and-beyond Context The FCA has published a speech given by Nisha Arora, Director of Consumer and Retail Policy, about regulation of consumer credit, during the pandemic and...
FCA issues ‘Dear CEO’ letter – adequate client money arrangements (general insurance intermediaries)
Link(s): https://www.fca.org.uk/publication/correspondence/dear-ceo-portfolio-letter-giis.pdf Context The FCA has issued a 'Dear CEO' letter to general insurance intermediaries. The letter highlights that firms must continue to safeguard the client money it holds for...
Updates on the Business Interruption Insurance test case
Link(s): https://www.fca.org.uk/firms/business-interruption-insurance https://www.fca.org.uk/firms/business-interruption-insurance#revisions https://www.fca.org.uk/publication/corporate/bi-insurance-test-case-draft-transcript-2-oct-hearing.pdf. Context The past week...
ICO launches consultation on draft Statutory Guidance
Link(s): https://ico.org.uk/about-the-ico/news-and-events/news-and-blogs/2020/10/ico-launches-consultation-on-draft-statutory-guidance/ https://ico.org.uk/about-the-ico/ico-and-stakeholder-consultations/ico-consultation-on-the-draft-statutory-guidance/ Context The...
Society of Insurance Broking/CII urges brokers to review public liability insurance policies
Link(s): https://www.cii.co.uk/news-insight/media/press-releases/articles/brokers-urged-to-check-public-liability-insurance-policies/95431 Context The Society of Insurance Broking has urged brokers to conduct a review of public liability insurance policies to...