Financial Services Authority (FSA)
Lloyd's to be dual-regulated by PRA and FCA under new financial regime
The Government today outlined its view that Lloyd’s and Lloyd’s managing agents should be dual-regulated firms with the Prudential Regulatory Authority responsible for prudential regulation (including the activities of ensuring the adequacy of members’…
Government admits insurance firms pose less "systemic" risk
In outlining its plans for the replacement of the Financial Services Authority today the Government has given the strongest sign yet that it will differentiate between the insurance industry and other higher risk sectors.
More details published on regulatory regime
A new approach to financial regulation: building a stronger system provides further detail on the government’s proposals to reform the framework of financial regulation in the UK.
Government rebrands broker regulator before launch
The government is to rename the Consumer Protection and Markets Authority as the Financial Conduct Authority and give it the power to ban products or limit their distribution for up to 12 months.
The professionalism push: Video interview with Sandy Scott, CII
Sandy Scott, chief executive of the Chartered Insurance Institute talks to Jonathan Swift about the challenges and opportunities facing the general insurance industry in its quest to embrace professionalism.
FSA boss assuages fears over insurance regulation
Financial Services Authority chief executive Hector Sants has assured the UK insurance market the new regulatory landscape will see insurance retain a separate identity from the banking sector.
Scott: GI becoming 'recognisable profession'
The chief executive of the Chartered Insurance Institute is confident that the general insurance industry is making strides that will help it differentiate itself under the incoming regulatory regime.
Learning from life: Could Solvency II bring life and general insurance closer together?
When the First Life Assurance Directive was passed in 1979, it spelled the end for new composite insurers. Steven McEwan explains why the advent of Solvency II may bring life and general insurance back in contact again.
Legal expenses - ATE ruling: Playing at being an insurer
Has the recent judgment in Sibthorpe and Morris v London Borough of Southwark put another nail in the coffin of after-the-event insurance? Paul Asplin looks at the result of the case.
Motor Claims 2011: Delegates hit out over motor repair fraud practices
Roundtable delegates from Chubb, Co-operative Insurance and Groupama joined forces to slam fraudulent practices from major insurers in motor repair cases.
Legal expenses: The end of after-the-event insurance?
The Jackson Report could see the end of after-the-event insurance. Veronica Cowan canvasses the views of those in the industry to find out if the market would still be viable.
Biba accuses regulator of ignoring broker concerns over fees
British Insurance Brokers’ Association chief executive Eric Galbraith has called on the Financial Services Authority to accelerate its review of the Financial Services Compensation Scheme.
Medical intermediaries condemn 57% rise in FSCS fees
The Association of Medical Insurance Intermediaries has condemned the proposed 57% increase in this year’s Financial Services Compensation Scheme levy as "unfair, excessive and totally inappropriate".
Ruling opens door for non-FSA approved indemnifiers
Legal expenses insurers have warned that a recent ruling could pave the way for solicitors without Financial Services Authority approval to offer indemnity against defendants' legal costs.
Biba calls for intermediary split after shock FSCS hike
Insurance brokers have reacted angrily to Financial Services Compensation Scheme proposals to increase their fees to more than £90m for 2011/2012.
Insurer scoffs at ABI gender ruling warning – Insurance News Now – 10 February 2011
Post news editor Mairi MacDonald outlines this week’s major general insurance stories, including the refusal of specialist female insurer Shelia’s Wheels to accept the Association of British Insurers’ suggestion that it could potentially have to re…
Lockton warns firms over data breaches
A new Lockton White-paper has warned organisations that do not notify data breaches they are “living on borrowed time”.
ELTO attracts 90% of insurer market
More than 90% of employers’ liability insurers have voluntarily signed up to the Employers’ Liability Tracing Office service.
Combined under sales moratorium following FSA inquiry
Combined Insurance has been faced with a sales moratorium since October 2010 following a Financial Services Authority inquiry into its sales practices.
Treasury committee calls for right not rushed regulation
The Treasury Committee has today published its report on the government's proposals for financial regulation, calling for more time to get it right.
Ex-LSE deputy CEO appointed boss of new regulator CPMA
The Government has announced that Martin Wheatley will become chief executive designate of the Consumer Protection and Markets Authority. He will be formally appointed to the post of chief executive once the new body has been established at the end of…
Nationals call for FSA talks as Towergate seals £200m deal
Chief executives from some of the UK's largest brokers have called for a meeting with the Financial Services Authority to discuss concerns over the increasing level of intervention in compliance issues by the regulator.
In series - Geography & Solvency II: Accurate data is key to Solvency II requirements
The need for more accurate data and improved infrastructure is occupying insurers' Solvency II teams. However, Sam Barrett finds that UK firms are well prepared when it comes to accuracy of information.
FSA seeks more 'intrusive' resilience benchmarking
Brokers have backed publication of a consultation document by the Financial Services Authority, Bank of England and HM Treasury that considers options for a financial sector resilience benchmarking programme.