California is preparing to join the widening investigation of the US insurance business.
“We have opened the first pages of what will be a long and very sordid book,” said California insurance commissioner John Garamendi.
The probe began a week ago when New York attorney general Elliot Spitzer sued broker Marsh & McLennan.
Mr Spitzer alleges that Marsh […]
He told a meeting in London of foreign investors and executives from financial institutions that India’s new governing coalition would sort out problems with its communist supporters through a process of dialogue.
Communist parties are the biggest ally of India’s new Congress-led coalition government.
“Left parties are extending valuable support to us, so it is not […]
Insurance firms have been warned by the Financial Services Authority (FSA) to improve the way they “cold-call” potential customers.
After looking at the way 43 firms sold insurance policies over the phone, the FSA concluded that customers were in danger of being treated unfairly.
The FSA said the standard of sales involving cold calling was “poor”.
However, the […]
The Financial Services Authority (FSA) is to hold a six-week exercise to test the resilience of the UK’s financial institutions to an avian flu pandemic.
Starting on 13 October, some 60 banks, insurance firms and other financial businesses will take part.
The exercise will look at a number of factors including how firms could cope with a […]
A South Yorkshire council is launching a campaign to weed out fraudulent compensation claims which it says are costing taxpayers more than 1m a year.
Rotherham Borough Council has set up a 24-hour phone line which can be used to report suspected bogus claims.
Claims for trips on pavements doubled to 320 in 2003/4 since 1999/2000.
Philip […]
Finance Minister Lord Rooker has attempted to defend the latest rates rises in Northern Ireland.
Rates bills have gone up by an average of 12% and local politicians have said the increases are unreasonable.
Callers to several BBC programmes have been highly critical of the increases. However, Lord Rooker said the government had no option.
“It is […]
Hector Sants has been appointed chief executive of the Financial Services Authority (FSA), the City regulator.
Mr Sants, previously a director at the FSA, replaces previous chief executive John Tiner on 20 July.
As chief executive Mr Sants will be the public face of the FSA, responsible for protecting consumers and increasing knowledge of finance.
The FSA has […]
BBC Radio 4’s Money Box has been named Financial Programme of the Year at a prestigious ceremony in London.
Money Box Presenter Paul Lewis collected the award at the Association of British Insurers (ABI) event on Wednesday.
Other nominees in the Financial Programme or Broadcaster of the Year category were the BBC’s Andrew Verity and Declan Curry.
The […]
Welcome to . This is your first post. Edit or delete it, then start blogging!