The regulator has launched a consultation on the duty, which was first flagged in May this year, as it seeks to increase consumer protection and tackle harm.
The administrator will now allow the provider to process mid-term adjustments.
MCE Edwards says he is “ashamed of the profession” and warns that the decision could impact vulnerable customers.
After taking home this year’s Achievement Award at Broker Expo 2021, Sara Fardon, managing director Willis Networks, talks to Insurance Age about her career in insurance and the value of broker networks.
Andy Higginson will join the broker's retail business, working closely with Ardonagh Retail CEO Ian Donaldson, Atlanta CEO Emma Rawlinson, and chief commercial officer Craig Ball.
Keep up to date with the latest industry moves.
MCE criticised the regulator earlier this week after its Gibraltar-based insurance arm went into run-off.
Insurer says it has transformed the way it handles flood claims for both direct and broker business following a warning by the Environment Agency (EA) that the UK must “adapt or die” to climate change.
Jackie Elliott talks to Insurance Age about her new role as commercial director and gives insight into the state of the market and the company’s plans for the future.
MCE condemns GFSC for applying capital add-ons on its Gibraltar-based insurance company, which went into run-off on 5 November.
The insurer develops staff proposition by improving its maternity and adoption, paternal, and shared parental leave policies.
Consolidator says it completed £125m of investment in Q3 including its purchase of Usay Group in the UK, as it reports significant reduction in loss for the first nine months of the year.
The Gibraltar-based business went into run-off on 5 November, citing difficulties with Solvency II, while the UK-headquartered division of the company has signed a fresh capacity deal with Sabre.
Bower-Dyke tells Insurance Age about his plans for the new venture and discusses why he believes there was a gap in the market for quality advice.
Acrisure carried out a review of the broking sector, highlighting firms’ top priorities, challenges, and M&A appetite.
Ascend has set its sights on achieving £22-£25m in GWP over the next 24 months and flagged that a further three deals are in the pipeline.
Broker Expo’s panel discussion on the evolution of reputation management shed light on the issues that led to the BI test case and asked how brokers and insurers can improve their service.
Jackie Elliott will be joining the team as the broker marks its first year in business following 2020’s merger.
Sabre takes over as MCE states it stopped placing new business and renewals with its own Gibraltar-based insurance arm, MCE Insurance Company, on 5 November.
In an attempt to help firms better prepare for the Financial Conduct Authority's new product governance rules, trade associations representing the general insurance market have produced a fair value assessment template.
Check out the website's fresh section, Product Hub, for in-depth features and content spanning 11 product lines.
At the World Climate Summit, Howden stressed insurance was the key to unlocking the private capital needed to address the £14.8bn ($20bn) disaster relief shortfall.
Deal for Equity Health Solutions is PCH's second since becoming part of GRP in 2020.
The provider's profit before tax hit £103m, highlighting an increase in customer policies despite premium reductions across the sector.