Why the US should follow the UK's lead on solvent-scheme legislation
Jim Schacht, managing director of Navigant Consulting's insurance and reinsurance practice, argues that for the good of the industry, the US should take note of the UK's approach and revamp its Byzantine insolvency legislation as soon as possible
In the UK, an insurance or reinsurance company wishing to wind up its business - regardless of its financial condition - is able to utilise a 'scheme' system, which allows for a procedure where a
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Regulation
Regulator aims to make it easier for insurers to invest
The Prudential Regulation Authority is proposing to make it easier for insurers to invest within their matching adjustment portfolios, according to CEO Sam Woods.
AI system launched to overhaul claims settlements
Stephen Kavanagh, who has spent more than 25 years developing technology to transform financial service business processes, has created a system that overhauls how insurance losses are assessed and settlements reached.
Five steps to non-performative culture change
Trade Voice: Dr Matthew Connell, director of policy and public affairs at the Chartered Insurance Institute, urges organisations to move past performative lip service with five steps to cultivate genuinely ethical cultures.
Sign up for webinar on managing the growing regulatory burden
A recent survey highlighted the increasing strain the insurance market is under.
Four biggest challenges facing insurers in 2025 revealed
To get you ready for the next 12 months, Insurance Post uncovers four things you need to know about what 2025 holds in store for the industry, according to analysts.
Why more insurers should support vulnerability database
Martyn Mathews, managing director of SSP Broker, urges insurers to support the Vulnerability Registration Service, which enables consumers to confirm they are vulnerable allowing providers to ensure they are treated appropriately.
Impact of foreboding on the forecourt on insurance
Jeremy Irving, partner at Browne Jacobson, unpicks the potential impact of a Court of Appeal ruling on commission disclosure for the general insurance industry.
Regulator delays general insurance stress test
The Prudential Regulation Authority has postponed the dynamic general insurance stress test launch as switching from Solvency II to Solvency UK reporting requirements mean providers have enough on their plate in 2025.