Insurance news
46 stories on insurance, newest first. Every story is dated and cites its sources.
- June 2026
FCA updates ICOBS 5.3 guidance on advised insurance sales
The Financial Conduct Authority has added new handbook guidance on advised insurance sales, covering suitability across packaged policies and pure protection contracts, effective from 26 June 2026.
- May 2026
Government publishes FOS review consultation outcome with package of proposed reforms
The government has published the outcome of its review of the Financial Ombudsman Service, proposing a 10-year complaint time limit, an adapted Fair and Reasonable test and new FCA referral duties.
Government publishes FOS consultation response and final reform plans
The government has confirmed final plans to reform the Financial Ombudsman Service, including a 10-year complaint time limit and a narrower Fair and Reasonable test, and will not make it an FCA subsidiary.
- December 2025
Motor Insurance Taskforce final report published without action on low-income households
The Motor Insurance Taskforce has published its final report, and Fair By Design says it leaves low-income households facing the highest car insurance charges without action on targeted discounts.
Administrators to stop all Premier Insurance policies
Administrators of the failed Gibraltar-based insurer Premier Insurance plan to stop all remaining policies on 1 December 2025, leaving thousands of mainly motor customers needing new cover.
- November 2025
Welsh Government issues resultant proposals on flood insurance in Wales
The Wales Flood and Coastal Erosion Committee has published seven resultant proposals on flood insurance in Wales, covering uninsured properties, Flood Re eligibility and support for those outside the scheme.
- October 2025
Consultation on the review of the Financial Ombudsman Service closes
The government's consultation on reforming the Financial Ombudsman Service, including a proposed 10-year absolute time limit for complaints, closed on 8 October 2025.
Consumer Scotland responds to HM Treasury consultation on the review of the Financial Ombudsman Service
Consumer Scotland has told HM Treasury it opposes a 10 year absolute time limit for Financial Ombudsman Service complaints, a merger of the ombudsman with the FCA, and new FCA referrals.
- July 2025
Virgin Money removes Covid vaccination exclusion from travel policy
Virgin Money has removed a clause that excluded cover for unvaccinated travellers hospitalised with Covid abroad, after Which? flagged the exclusion in a comparison of three travel insurers.
- May 2025
Which? finds most home insurance policies cover gardens but with low limits and exclusions
Which? analysed 75 home insurance policies and found 91% cover garden contents, but only one would pay out for storm damage to fences, gates and hedges.
- April 2025
Which? finds potentially unfair storm and flood definitions in home insurance policies
Which? analysis of 133 home insurance policy documents from 67 firms found 32% contained a potentially unfair definition of flood and 20% a potentially unfair definition of storm.
- February 2025
Consultation closed on permitted insurance fees
A government consultation on permitted insurance fees for landlords, freeholders and property managing agents in England and Wales closed at 11:59pm on 24 February 2025, with a response published later.
Flood Re reports 20,000 Welsh properties ceded to the scheme
About 20,000 properties in Wales had been ceded to Flood Re in recent months as of February 2025, with 900 claims made in Wales to date, a Welsh consultation report says.
- January 2025
Which? finds only 10 of 76 car insurance policies include breakdown cover as standard
Which? analysis of 76 car insurance policies published on 30 January 2025 found only 10 include breakdown cover as standard, with just two offering a complete package.
Insurers paid record £585m for weather damage in 2024
Insurers paid a record £585m in 2024 for weather-related damage to homes and possessions, according to Association of British Insurers data cited by Which?, with a further £322m paid in the first half of 2025.
- December 2024
Ombudsman guidance on motor valuations and write-offs updated
The Financial Ombudsman Service has updated its guidance on motor valuations and write-offs, saying it will now typically consider adverts when assessing what a written-off vehicle was worth.
Consultation launched on permitted insurance fees for landlords, freeholders and property managing agents
The UK and Welsh governments have set out plans to replace opaque buildings insurance commissions paid by leaseholders with a permitted insurance fee, under powers in the Leasehold and Freehold Reform Act 2024.
- November 2024
FCA review finds long delays in life insurance payouts
The Financial Conduct Authority's review of 15 life insurers covering more than 75% of the market found significant delays and inconsistencies in bereavement claims handling, with term insurance claims taking 53 to 122 days.
Storms Bert and Conall flood more than 680 properties in England
Storms Bert and Conall flooded more than 680 properties in England in November 2024, as analysis of home insurance policies shows most storm claims were rejected in the same year.
- October 2024
Fair By Design responds to consultation on eliminating poverty premiums
Fair By Design has published its response to Ofgem's consultation on the consumer vulnerability strategy, setting out measures it wants from the regulator and government to cut poverty premiums.
Which? finds budget home insurance policies often lack key cover features
Which? analysis of 75 home insurance policies found 12 budget products generally scored poorly, with gaps including missing accidental damage cover, low trace and access limits and higher excesses.
- September 2024
UK Government establishes Floods Resilience Taskforce
The UK government set up a Floods Resilience Taskforce in September 2024 to oversee national and local flood resilience, with a flood insurance taskgroup among three established.
- August 2024
More travellers with medical conditions not declaring them when buying travel insurance
A third of travellers with pre-existing medical conditions say they will not declare all of them when buying travel insurance this summer, up from a quarter in the spring, according to research from insurer AllClear.
ABI reports motor premiums fell for the first time in two years
The Association of British Insurers reported that average comprehensive motor premiums fell to £622 in the second quarter of 2024, the first quarterly decline in two years.
- July 2024
New analysis shows low-income drivers pay up to 48% more for car insurance
University of Bristol analysis for Fair By Design finds drivers in the most deprived areas pay 29 to 48 per cent more for car insurance, with monthly payment and area ethnicity also raising quoted premiums.
- June 2024
Publication of a 12 point plan to end the poverty premium
Fair By Design published a 12 point plan to end the poverty premium on 13 June 2024, launched as its 2024 general election manifesto and covering payments among other areas.
Hargreaves Lansdown report finds 57% of homeowners lack enough life cover
Hargreaves Lansdown figures reported by Which? show 57% of homeowners have too little life cover, with an average shortfall of £89,800 for households with dependents.
- May 2024
Insurance policyholders report biggest rise in problems
The proportion of insurance policyholders who reported a problem rose to 16 per cent in May 2024 from 12 per cent in 2022, the largest increase of any product area, driven mainly by policies costing more than expected.
Motor insurance switching rate rises to 61%
The FCA's Financial Lives 2024 survey found motor insurance had the highest switching rate of any product in the last three years, at 61%, up nine percentage points from 52% in 2022.
- April 2024
FOS award limits increase from 1 April 2024
The Financial Ombudsman Service award limits rose on 1 April 2024 to £430,000 for complaints about acts or omissions from 1 April 2019, and £195,000 for earlier ones.