Regulators · United Kingdom
The United Kingdom Framework.
Twin peaks supervision, a raised standard for retail outcomes, detailed conduct rules on claims handling, and a new oversight regime aimed squarely at third-party suppliers to the financial sector.
Kempron does not operate in the United Kingdom. The UK framework is unusually explicit about supplier risk and about claims conduct.
The Bodies
Who Supervises What
Financial Conduct Authority
Conduct regulator for financial services, including general insurance. Its Insurance: Conduct of Business sourcebook (ICOBS) contains the rules on claims handling, including the requirement to handle claims promptly and fairly and not to reject a claim unreasonably.
The Consumer Duty raises the standard for outcomes delivered to retail customers and bears directly on claims. It came into force for new and existing products open to sale or renewal on 31 July 2023, and for closed products on 31 July 2024. (FCA Policy Statement PS22/9, 2022.)
Prudential Regulation Authority, Bank of England
Prudential supervisor of insurers under the twin-peaks structure established by the Financial Services Act 2012. Solvency UK is the post-EU successor to the Solvency II regime.
Critical Third Parties Oversight
The Financial Services and Markets Act 2023 created a regime allowing HM Treasury to designate certain third-party service providers to the financial sector as critical, bringing them within direct regulatory oversight. The Bank of England, PRA and FCA published final rules in November 2024, effective from 1 January 2025, which apply only where HM Treasury has made a designation order.
Financial Ombudsman Service
Independent external dispute resolution for consumers and small businesses, after a firm's own complaints process. Its decisions bind the firm where accepted by the complainant.
Information Commissioner's Office
Supervises the UK General Data Protection Regulation and the Data Protection Act 2018.
Motor And Counter-Fraud Bodies
The Motor Insurers' Bureau operates the Motor Insurance Database and compensates victims of uninsured and untraced drivers. The Insurance Fraud Bureau is an industry body coordinating cross-insurer investigation of organised fraud. The Insurance Fraud Enforcement Department is a specialist police unit within the City of London Police, funded by the insurance industry.
Market data for the United Kingdom is set out on the UK market page.
On Accuracy. These pages name real bodies and real instruments. They are summaries for orientation, not legal advice, and not a substitute for the instruments themselves. Regulators and supervised firms who find an error here are invited to write to info@kempron.io; it will be corrected.
Jurisdictions that could not be sourced to this standard are not listed.