The FCA has halted regulated business at Manchester-based life insurance distributor Compared Life Ltd (FRN 815068).

The FCA plans to cut back insurance red-tape to give the industry simpler, more straightforward rules, it said.

The Financial Conduct Authority is to review soaring insurance premiums for home and motor insurance and the practice in some markets of paying for insurance in instalments.

There were 238,000 hospital admissions funded by private medical insurance (PMI) in the first quarter of this year, a rise of 6% year-on-year, according to new data.

More than one in five adults (22%) who took unplanned leave in 2023 due to injury were not paid during their absence, a major new study has uncovered.