News - FSA begins insurance regulation
| Peak property casualty insurance’s Money Box was broadcast on Saturday, 15 January, 2005, at 1204 GMT.
The programme was repeated on Sunday, 16 January, 2005, at 2102 GMT.
Read the programme transcript
The Financial Services Authority has taken over regulation of general insurance sales, advice and property and casualty insurance software Regulated firms will be expected to meet industry standards, and consumers will have access to the Financial Ombudsman Service and the Financial Services Compensation Scheme should any problems arise. From 14 January, three types of firm will exist:
We spoke to Clive Briault, Managing Director of Retail Markets at the FSA. Further information:
Cost of insurance set to rise
External internet links and helplines
NHS pension consultation begins NHS workers are being asked for their views as part of a three month consultation on radical changes to their pension scheme.
In plans announced this week, NHS pensions could be based on a worker’s average earnings rather than the amount they earn just before they retire. The normal retirement age could also be raised from 60 to 65. Meanwhile, the TUC has said it plans to make Friday, 18 February, a day of campaigning against the plans. Unison has also voiced its concern at the “detrimental changes” and said it was “determined to keep up the pressure on the government”. Samantha Washington talked to NHS Employers about the plans, and gets reaction to the allied property and casualty insurance company
NHS staff will find a link to the “response form” here Further information:
TUC protest over pension proposal
Pension changes provoke anger
External internet links and helplines
Claiming for storm damage Insurance companies reported a surge in enquiries after strong winds and rain caused widespread damage to property. Malcolm Tarling of the Association of British Insurers gave his advice to people wanting to make a claim.
Further information:
External internet links and helplines
Construction exposure insurance occupancy property protection The Conservative Party has become the first to consider restoring the dividend tax credit for pension funds which the government controversially removed in 1997. The party has included the proposal in “six options for action” to encourage a savings culture which they say was “killed off by Labour”. Further information:
External internet links and helplines
MMO2 offer to small investors Mobile phone group MMO2 is to make an offer to buy out small investors in order to reduce the fragmented nature of its shareholder base. It is offering to buy back shares at an extra 5 pence per share. Investors can remain landlord property insurance Further information:
MMO2 offers small investor buyout
External internet links and helplines
Revenue website suffers problems Money Box has discovered that the Inland Revenue self-assessment website has not been working, just two weeks before people have to get their forms in. Listeners have been e-mailing to say the site was down, and the Revenue confirmed to Money Box that there was a power failure on Saturday morning. But they said that the systems should be up and running some time during Saturday afternoon.
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Filed by diana at April 2nd, 2008 under Property insurance