Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 21 MAY 2008

Thinc Of A Number …

Browne Jacobson LLP
Browne Jacobson LLP
Contributor
Browne Jacobson LLP

Browne Jacobson LLP

We’re Browne Jacobson. The law firm for positive impact across business and society. Social and...

View firm profile
Explore more from Browne Jacobson LLP

IFA group, Thinc, was last week landed with a whopping £900,000 fine from the FSA for a raft of sub-prime mortgage advisory failures.

United KingdomInsurance
Nik Carle
Nik Carle

Nik Carle reviews the FSA's unforgiving investigation against Thinc Group Ltd and finds that this case will serve as a blueprint for professional indemnity ('PI') claims-making in this sector.

IFA group, Thinc, was last week landed with a whopping £900,000 fine from the FSA for a raft of sub-prime mortgage advisory failures.

The size of the penalty shows just how serious the FSA is about clamping down on shoddy practice in this sector.

The FSA's Director of Enforcement, Margaret Cole, said that its response here showed the Regulator's eagerness:

"to impose higher fines for serious failings in the retail market and that poor record-keeping is a serious failure even where, as in this case, the FSA has not determined that the firm mis-sold sub-prime mortgages and there have been few complaints."

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Strait Of Hormuz: Current Situation And Implications For Marine Insurance

The Strait of Hormuz has become a critical flashpoint for global maritime trade following the outbreak of hostilities involving Iran in 2026. With approximately one-fifth of global oil trade passing through this vital waterway, commercial shipping now operates under unprecedented security threats including missile attacks, drone strikes, and mine risks. Marine insurance premiums have skyrocketed from 0.125% to as high as 10% of vessel values, fundamentally altering the economics of Gulf trade and forcing th
United KingdomInsurance
Lester Aldridge LLP
Lester Aldridge LLP
Article

A Tailored Regime: PRA And FCA Consult On UK Insurance Captives

The UK's Financial Conduct Authority and Prudential Regulation Authority have unveiled Stage 1 of a new tailored regulatory framework for insurance captives, designed to be proportionate, competitive, and reflective of captives' lower risk profiles. With consultations closing in October 2026 and implementation targeted for mid-2027, the regime promises streamlined authorisation, bespoke capital requirements, and simplified supervision—but will it be enough to compete with established offshore jurisdic
United KingdomInsurance
HFW
HFW
Article

Six Minutes From Crisis To Covered: How Artificial Intelligence Is Transforming Pet Insurance Claims

Swedish Insurtech Lassie has launched in the UK with a revolutionary pet insurance model that combines AI-powered claims processing, gamified health rewards, and personalized pet care guidance through a single app. The platform promises to settle claims in just six minutes and offers a prevention-first approach that could fundamentally reshape the traditional pet insurance market. With over 20 million UK pets currently uninsured, Lassie's innovative approach may finally bridge the gap between pet owners and
United KingdomInsurance
Browne Jacobson LLP
Browne Jacobson LLP
Article

Insuring Offshore Wind Growth Amid Rising Risks, Defects And Claims

The offshore wind industry faces unprecedented insurance challenges as it scales rapidly to meet global energy demands. With subsea cable failures, design defects, and evolving technologies creating complex coverage issues, insurers and wind farm operators must navigate LEG exclusions, series loss clauses, and contingent business interruption claims. How can the insurance market balance risk limitation with the viability of this critical renewable energy sector?
United KingdomInsurance
HFW
HFW
Article

Can Insurers Avoid Covering Defence Costs Under A D&O Policy Before Fraud Is Proved?

In a landmark ruling, the English Commercial Court has determined that insurers must continue advancing defence costs under D&O policies even when fraud allegations are pending, provided a non-avoidance clause is present. The decision addresses whether such clauses violate public policy and establishes that insurers cannot withhold coverage until fraud is either admitted or proven by final court decision.
United KingdomInsurance
Mishcon de Reya LLP
Mishcon de Reya LLP
Article

Disclosure Risks For Insurers As A Non-party To English Arbitration Or Court Proceedings

When can insurers' claims handlers' correspondence and documents be disclosed in English arbitration or court proceedings? This article examines the boundaries of Legal Professional Privilege and explores the circumstances under which materials produced by P&I Club and H&M claims handlers may be subject to disclosure obligations, even when the insurer is not a party to the proceedings.
United KingdomInsurance
HFW
HFW
Article

FCA Pure Protection Market Study: Fair Value Findings - What Firms Need To Do

The FCA has published its final report on the distribution of pure protection products, examining firms' fair value assessments under the Consumer Duty and PROD 4. The regulator found significant gaps in how insurers and intermediaries evidence their fair value conclusions, particularly around commission structures and guaranteed acceptance over 50s products, signaling that supervisory action will follow for firms with weak frameworks.
United KingdomInsurance
TLT
TLT
Article

The UK Cyber Security And Resilience Bill: What You Need To Know

The UK Government has introduced the Cyber Security and Resilience Bill to address critical gaps in existing cyber security regulations, expanding coverage to data centres, managed service providers, and critical suppliers while granting regulators enhanced enforcement powers. With tightened incident reporting deadlines, turnover-based penalties up to £17 million, and mandatory supply chain resilience measures, organisations across essential services sectors must assess their readiness for compliance
United KingdomTechnology
Browne Jacobson LLP
Browne Jacobson LLP
Article

Thirlwall Inquiry Report: Key Findings And What They Mean For NHS Patient Safety

After three years of evidence and testimony, Lady Justice Thirlwall has delivered a landmark report examining how Lucy Letby was able to murder seven babies and attempt to murder six others at the Countess of Chester Hospital. The findings reveal systemic failures in NHS governance, patient safety protocols, and leadership accountability that extend far beyond a single institution. NHS trusts now face fundamental questions about how they prioritize patient safety over reputation, respond to clinical warning
United KingdomFood, Drugs, Healthcare, Life Sciences
Browne Jacobson LLP
Browne Jacobson LLP
Article

Advertising In ChatGPT: What Retailers Need To Know

OpenAI's integration of advertisements into ChatGPT marks a significant shift in how retailers can reach consumers through conversational AI. As this emerging channel offers contextual relevance at moments of genuine purchasing intent, retailers must navigate complex advertising regulations, data protection requirements, and sector-specific rules to ensure compliance while capitalizing on this novel marketing opportunity.
United KingdomMedia, Telecoms, IT, Entertainment
Browne Jacobson LLP
Browne Jacobson LLP
Article

Cyber Resilience Act: New Vulnerability Reporting Requirements Now In Force

The EU Cyber Resilience Act introduces mandatory reporting obligations for manufacturers of digital products, requiring them to notify authorities within 24 hours of discovering actively exploited vulnerabilities or severe security incidents. This regulation establishes strict timelines for early warnings, detailed vulnerability notifications, and final reports, fundamentally changing how manufacturers must respond to cybersecurity threats.
IrelandTechnology
Browne Jacobson LLP
Browne Jacobson LLP
Article

Six Minutes From Crisis To Covered: How Artificial Intelligence Is Transforming Pet Insurance Claims

Swedish Insurtech Lassie has launched in the UK with a revolutionary pet insurance model that combines AI-powered claims processing, gamified health rewards, and personalized pet care guidance through a single app. The platform promises to settle claims in just six minutes and offers a prevention-first approach that could fundamentally reshape the traditional pet insurance market. With over 20 million UK pets currently uninsured, Lassie's innovative approach may finally bridge the gap between pet owners and
United KingdomInsurance
Browne Jacobson LLP
Browne Jacobson LLP
Article

Unboxing The New EU Packaging Regulation

The EU Packaging Regulation introduces sweeping reforms to packaging and packaging waste legislation across all Member States, establishing requirements for the entire lifecycle of packaging from labelling to environmental sustainability. With ambitious targets to reduce packaging waste per capita by 15% by 2040 and mandatory recyclability standards taking effect from 2030, businesses involved in product packaging face significant compliance obligations that will fundamentally reshape how they design, manuf
European UnionEnvironment
Browne Jacobson LLP
Browne Jacobson LLP
Article

Key Legal And Policy Changes For Schools In 2026/27

As schools navigate the immediate pressures of 2025/26, several major legal and policy changes are already taking shape that will fundamentally reshape how schools operate from 2026/27 onwards. From the most significant employment law reforms in a generation to new AI regulations and the introduction of MAT-level Ofsted inspections, early preparation will be essential for school leaders who want to stay ahead of these transformative changes.
United KingdomEmployment and HR
Browne Jacobson LLP
Browne Jacobson LLP