European Commission (EC)
CEA warns of European tax proposals "moral hazard"
The European insurance federation CEA has accused the European Commission of failing to differentiate between different types of financial institutions in its plans for taxation of the financial sector.
EC sets out plan to raise billions through financial sector tax
The European Commission has set out its ideas for the future taxation of the financial sector.
LMA warns of over-regulation of Lloyd's
The Lloyd’s Market Association has warned the proposed regulatory system for the UK is being created around the banks which will make it over-engineered, unsuitable and unjustifiably costly for the general insurance industry.
Environmental liability: The carrot or the stick?
The idea of a new compulsory insurance class appears to represent opportunity to some and a major risk to market stability for others. Ralph Savage reports on how compulsory financial provision for environmental damage is viewed and whether it could ever…
Post Europe: Remedy sought for global compliance headache
International business must keep compliant with shifting insurance regulations and tax regimes across the world, and on the back of research by Ferma Peter den Dekker asks if a single database could help reduce cost bases within impairing competition.
Tories slam EU sex insurance decision as "madness"
The Conservative Party has slammed the EU's Advocate General decision that to take the sex of a person into consideration for insurance purposes was against a person’s fundamental rights.
BIS 2010: Baugh claims UK insurance industry lacks cohesive voice
The UK insurance industry may fail to get its voice heard at home and on an international stage because it is too “fractured”.
Interview - Chris Humphries: Surmounting the UK skills challenge
The UK is falling behind on the production of high-skilled jobs, while the value of some degree courses is plummeting. Lynn Rouse talks to UKCES chief executive Chris Humphries about how best to reverse these trends.
European super regulator rules passed
Rules passed today which create three new European Supervisory Authorities and a European Systemic Risk Board keep national regulators at the fore whilst ensuring a common rule book to prevent future economic crises, Kay Swinburne MEP, European…
European super regulator rules passed
Rules passed today which create three new European Supervisory Authorities and a European Systemic Risk Board keep national regulators at the fore whilst ensuring a common rule book to prevent future economic crises, Kay Swinburne MEP, European…
Post Europe Interview – Tara Kneafsey
Latvia’s insurance market is young and has been hit hard by the global recession, Tara Kneafsey, CEO of RSA Latvia, Balta, talks to Stephanie Denton about how the market has been able to innovate and how holding rates will be crucial to future survival.
Conservatives welcome creation of Euro super-regulator
The Conservatives have welcomed an agreement between the European Parliament and the Council of Ministers over the creation of three new European Supervisory Authorities and a European Systemic Risk Board.
European super regulator could be in place by 2011 pending 7 September vote
EU authorities are to get tough new powers to settle disputes among national financial supervisors and to ban risky financial products and activities, in a revamp of EU financial supervision plans agreed on Thursday.
3700 staff on tenterhooks as RBSI unveils closures
Rivals of Royal Bank of Scotland Insurance have outlined plans to recruit staff affected by the banking giant's decision to close more than half of its offices.
Insurance industry warned it could face more EC enforcement actions
The insurance industry has been told that it could face more enforcement actions from Brussels.
EC opens antitrust investigation into insurance
The European Commission has opened formal proceedings to investigate whether certain provisions accompanying claim-sharing and joint-reinsurance agreements in the marine insurance sector might infringe European Union antitrust rules.
RBS to shed 640 Direct Line jobs
Royal Bank of Scotland is set to cut more than 600 Glasgow-based Direct Line staff, the BBC reports.
Legal update - litigation funding: Containing the genie
The role of private litigation funding has become a live issue, with collective redress systems being proposed throughout Europe. Robert Hammesfahr explains why fears of abuse and soaring costs may be unfounded.
CEA calls on industry to participate in QIS 5
The CEA has urged insurers “both large and small” to take part in the European Commission’s fifth Solvency II quantitative impact study.
Moody's affirms Aegon rating
Moody's Investors Service affirmed the A3 senior debt and Baa2 subordinated debt ratings of Aegon and the A1 insurance financial strength ratings of Aegon's US life insurance operating companies.
Aegon Government bailout given EC approval
The European Commission has approved, under EU state aid rules applicable to the financial sector in the current crisis, the recapitalisation of the Dutch insurance company Aegon.
View from the top: Singing from same sheet
Despite being an industry that is not short of executives with opinion, and whose job is to take a view on risk, insurance collectively is a 'shrinking violet' — with no body or mechanism whose job it is to speak out on behalf of the industry.
ABI supports MoJ data protection review
The Association of British Insurers has backed a Ministry of Justice review of the Data Protection Act.
KPMG unsurprised by US omission in Solvency II project
KPMG has welcomed Ceiops draft advice (Consultation Paper 81), published yesterday, on which jurisdictions’ regulatory regimes are to be considered within the first wave of Solvency II equivalence assessments.