The Financial Conduct Authority (FCA) has raised concerns about the fair treatment of clients in delegated authority arrangements, with some insurers failing to display adequate conduct risk and outsourcing controls
The Prudential Regulation Authority (PRA) has warned that many UK insurance companies still have a "considerable amount of work" to do in preparation for the implementation of Solvency II on 1 January 2016.
The Financial Conduct Authority (FCA) has discovered "numerous examples" of poor practice in the handling of claims for small and medium-sized enterprises (SMEs), including delays in initial loss adjuster visits of up to three weeks.
Underwriters of all lines of business should include cyber exposure in their policies and price for it accordingly, said Stephen Wares, cyber risk practice leader at Marsh.
