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ALA Insurance calls for FCA clarity
- 25/09/2023
- Posted by: Alan Feldberg
- Category: News
ALA Insurance has called a fair value warning to GAP insurance providers issued by the FCA ‘irresponsible’ as the data does not differentiate between online brokers and dealerships. The FCA claimed it had evidence that some GAP products do not offer fair value, citing its own data which revealed only six per [...] -
FCA announces insurance crackdown
- 21/09/2023
- Posted by: Alan Feldberg
- Category: News
The Financial Conduct Authority has told motor insurers they are falling short of new Consumer Duty regulations and warned them to improve services within three months or face penalties. In a letter to insurers, it has asked them to check if their policies are offering value for money after identifying cases where [...] -
Dealers urged to prepare for Consumer Duty
- 15/06/2023
- Posted by: Alan Feldberg
- Category: News
Dealers are being advised to reassess the customer journeys and deal processes within document management and DMS platforms ahead of the introduction of the new Consumer Duty regulations on 31 July 2023. The warning comes from automotive technology company Mad Devs, which supports dealers across the UK with its [...] -
Price hikes continue for motor insurance
- 15/02/2023
- Posted by: Alan Feldberg
- Category: News
Average motor insurance premiums rose by eight per cent in the fourth quarter of last year, driven by rising costs in energy and materials as well as continued part delays. According to the Association of British Insurers' latest Motor Insurance Premium Tracker, average premiums increased to £470, which is seven [...] -
Soaring premiums to continue rising
- 31/01/2023
- Posted by: Alan Feldberg
- Category: News
Car insurance premiums saw the biggest annual rise in six years in 2022. According to the Confused.com Car Insurance Price Index in association with WTW, average comprehensive premiums rose by 19% last year to an average price of £629. The sharp rise was capped by a seven per cent increase in the last three [...] -
Motor premiums creeping up
- 08/08/2022
- Posted by: Alan Feldberg
- Category: News
The average price of motor insurance rose in the second quarter, according to data published by the ABI. Its Motor Insurance Premium Tracker found that the average policy has increased to £419. This represents a marginal increase of £5 on the previous quarter, but remains £11 lower than the same time in [...] -
Fresh compliance warning to dealers
- 08/12/2021
- Posted by: Alan Feldberg
- Category: News
Dealers have been warned to keep compliant finance and consumer records ahead of the introduction next year of new rules from The Financial Conduct Authority. The new rules will see the introduction of a new Consumer Duty by the Financial Conduct Authority, which will be backed by a data-led approach for [...] -
Dealerweb sees September surge in orders
- 11/10/2021
- Posted by: Alan Feldberg
- Category: News
Dealerweb has reported a 37% increase in September orders against the same month in 2020. The used market slowed for the third consecutive month with a nine per cent decline in enquiries and a four per cent fall in orders, while the average sold price of a used vehicle increased to £23,400 from £19,356 in [...] -
FCA recalls 900,000 vehicles worldwide
- 02/11/2015
- Posted by: Simon Wait
- Category: News
Fiat Chrysler Automobiles has said it will recall nearly 900,000 vehicles around the world to fix issues related to airbag deployment and anti-lock braking systems. The firm said it was recalling 284,089 model-year 2003 Jeep Liberty and 2004 Jeep Grand Cherokees SUVs in the United States to replace some components [...] -
PPI payout deadline considered
- 02/10/2015
- Posted by: Simon Wait
- Category: News
The UK’s financial regulator, Financial Conduct Authority (FCA) is considering a deadline for claims over mis-sold payment protection insurance (PPI). It expects that PPI customers would have until some time in early 2018, meaning lenders and consumers still have more thna 2 years to make claims and settle [...]
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