Banks and insurers should prepare for 'short term' PPI claim rush ahead of 2018 cut-off, says expert

Consumers who believe that they were mis-sold payment protection insurance (PPI) would have until 2018 to claim compensation from their bank or building society under plans put forward by the Financial Conduct Authority (FCA).

European Parliament gives go-ahead on Insurance Distribution Directive

The European Parliament has voted to tighten the rules on information and advice provided by insurance sales staff.

FCA seeks drawdown charging information from pension providers

Regulators have sent a further request for information about the costs to consumers of taking advantage of new, more flexible methods of accessing their pension savings; this time in relation to drawdown products.

US to seek 'prudential' assurances from EU as part of reinsurance deal

The US Treasury and US Trade Representative (USTR) will be seeking "recognition of certain prudential measures" from the EU as part of negotiations for a covered agreement on insurance, according to an announcement.

FCA looks into impact of big data on consumers and competition in retail insurance market

The Financial Conduct Authority (FCA) has launched an initiative aimed at deepening its own understanding of how insurers are using big data and how that use might evolve over the next five years.

More transparency about the 'right to object to processing of personal data' through opt outs is needed in big data projects, says privacy watchdog

Businesses should provide people with an 'opt out' right to object to the processing of their personal data when they make an assessment that consent is not necessary as part of a big data project, an EU privacy watchdog has said.

Flood Re 'on track' for April 2016 opening after major reinsurance deal

Flood insurance scheme Flood Re is "on track" to accept its first policy in April 2016 after securing its first £1.29 billion worth of reinsurance cover, it has announced.

First deadline approaches under new Senior Insurance Managers Regime

FOCUS: The way in which senior management at insurance firms are authorised and regulated is changing. With 'near-final' rules and guidance now published by the regulators, firms should be putting final measures in place to begin implementation in the New Year.

Environmental insurance: allocating risks between insurers

FOCUS: Commercial insurers should work together to ensure that their corporate customers can respond to claims related to environmental damage quickly while preserving their own rights to apportion liability.