International Underwriting Association (IUA)
IUA to poll members on EU membership as 2016 agenda is unveiled
Market modernisation projects and an increase in the international services offered to the London company market are among the top priorities for the International Underwriting Association in 2016.
Conventional cyber policies giving patchy cover, IUA finds
Coverage of cyber risks in conventional classes of insurance can be variable, meaning cover is not provided for cyber losses in situations where it might be expected, according to a report from the International Underwriting Association.
IUA sets up D&O group for company market underwriters
The International Underwriting Association has established a London company market group for directors' and officers' underwriters.
London companies back central placing process
The London company market has backed plans for a new electronic placement service, with the International Underwriting Association signing a statement of support for the project.
Reserving certainty a fillip for insurers in Enterprise Bill amendment
A proposed amendment to the Enterprise Bill under consideration by the House of Lords is being championed as giving insurers more certainty around reserving for damages relating to late claim payments.
International Underwriting Association partners with Singapore Reinsurers' Association
The International Underwriting Association of London is to partner with the Singapore Reinsurers' Association to enhance their membership offerings.
London company market premium totals almost £23bn in 2014
The London company market chalked up an overall premium total of £22.943bn last year, a report by the International Underwriting Association has shown.
IUA hires Mullan to oversee modernisation projects
The International Underwriting Association has appointed Caroline Mullan as a project management consultant to help with implementing London market modernisation projects.
Revised rehab code addresses loophole after ‘challenging' consultation
Those involved in putting the updated rehabilitation code together have conceded it was a "challenging" process to satisfy all parties ahead of the code becoming operational in December.
Updated rehab code to become operational from December
An updated version of the rehabilitation code has been published that includes a section for lower-value claims and a separate guide for rehab case managers and people who commission them.
Cost and availability of NEDs in question amid regulatory pressures
The increasing level of responsibility associated with being a non-executive director could serve to diminish the number of available candidates and drive up the cost of recruitment, according to the International Underwriting Association.
Europe: The impossible comparison of UK regulatory costs with the rest of the EU
Confirmation this June that the Financial Conduct Authority will be increasing fees for insurers and brokers by 8.5% for 2015/2016 has inevitably raised many eyebrows. A particular bugbear is that UK regulatory costs are perceived to be much steeper than…
Coordinated approach to drone regulation registers on IUA radar
A coordinated approach to the regulation of aviation drones is essential for the technology to thrive, the International Underwriting Association has claimed, amid rapidly expanding interest in the use of small unmanned aircraft systems.
IUA warns insurers over imminent tax changes
The International Underwriting Association has warned that the insurance industry will be affected by a global reform of tax systems.
IUA announces newly elected market committee chairs
The International Underwriting Association has announced three newly elected chairs to lead its market committees including the appointment of Inter Hanover's Paul Rich as chair of the delegated authority underwriting group.
LMA and IUA release Insurance Act guide
The Lloyd's Market Association and the International Underwriting Association have published a guide to the Insurance Act 2015 to help readers understand any potential challenges under the new law.
Regulatory spotlight leads to IUA delegated authority group
A London company market committee run by the International Underwriting Association is being established to discuss delegated underwriting authorities.
Conflict with Medco mooted as revised rehab code awaits summer launch
Draft proposals for the revised rehabilitation code have sparked calls for a “distinct pathway” to be established for low value whiplash claims so as not to conflict with the fledgling Medco scheme.
International Underwriting Association announces opposition to fees increase
The International Underwriting Association has voiced its disappointment with the proposed increase in regulatory fees imposed on UK general insurers.
Godwin and Ingrouille join IUA board
AIG property casualty's UK chief operating officer Geoff Godwin and Nigel Ingrouille, UK branch manager for Swiss Re International, have been appointed to the board of the International Underwriting Association.
Case managers guide to be published alongside rehab code this summer
Proposed changes instigated as part of a revised rehabilitation code will include a separate process for lower-value injuries and the introduction of an accompanying guide for case managers.
IUA brands Scottish plans to recover asbestos costs 'an abuse of process'
The Scottish government’s proposal to recover medical costs for treating asbestos diseases is unequitable, could prove unlawful and would drive up the cost of liability insurance, according to the International Underwriting Association.
Market Moves - 2 April 2015
Who has moved where this week.
IUA and LMA prepare guidance on Insurance Act changes
The International Underwriting Association and Lloyd’s Market Authority are working with legal specialists to prepare guidance on the impact of the incoming Insurance Act on their members.