Life insurance exit fees for long-standing customers need further review, says regulator

The Financial Conduct Authority (FCA) is to further review charges paid by long-standing customers of six life insurance providers in order to ensure that those customers are being treated "fairly".

Hong Kong must embrace fintech or risk losing its status as a major global financial services hub, says expert

Hong Kong must embrace the revolution in financial technology or risk losing its status as one of foremost centres for financial services in the world, an expert has said.

FCA to pilot comparable insurance claim 'scorecards'

The UK's Financial Conduct Authority (FCA) is to publish data on insurers' claim acceptance rates and average payouts, as part of a "pilot" aimed at making it easier for consumers to compare products and firms.

UK regulator will be 'sceptical' of insurers' attempts to reduce capital requirements

Regulators will be monitoring insurers' applications to alter the amount of capital they must hold under the new regulatory regime to ensure that they are not "gaming" the process in order to reduce the requirements, one of the UK's top regulators has said.

Chinese insurance market now world's third largest, says regulator

China's insurance market became the third largest in the world last year, driven by five years of growth, the country's main insurance regulator has reported.

'Steps of court' settlement was not negligent, court rules

A barrister and firm of solicitors did not act negligently when they advised a client to settle her road traffic accident (RTA) claim after her main witness failed to attend court, the High Court has ruled.

Flood Re secures ?2.1 billion reinsurance programme

Flood Re, the flood insurance scheme set up by the UK government and industry to offer cheaper insurance to homeowners at risk of flooding, has reached reinsurance deals worth ?2.1 billion with 38 insurance companies.