Prudential Regulation Authority (PRA)
When cyber gets physical
Recent events such as the Wanna Cry ransomware attack and British Airways’ computer outage have helped to drive sales of cyber insurance, but there are concerns that a significant part of the risk is being overlooked
Insurers must focus on cyber risk accumulation exposure: PRA
Insurers must get a grip on their cyber risk management to fully understand their cyber exposure, the industry watchdog has said.
Legal Update: The problem with delegated authorities
Do delegated authorities represent a short-term solution that is creating long-term problems? Jeremy Irving, partner at DWF, discusses.
Brexit: The location game
With Brexit negotiations now launched, insurers are taking steps to secure their access to the European market. How many will follow Lloyd's to Belgium?
Solvency II: still dividing opinion in the insurance industry a year on
In light of Brexit, what will regulation look like in the future?
PRA plans fee for Solvency II internal model approval
The Prudential Regulation Authority has announced a proposal to introduce a fee for Solvency II full and partial internal model approvals.
Nelson: Regulatory burden hampers Solvency II
The regulatory burden imposed upon insurers by Solvency II hampers a fundamentally good regulatory framework, Lloyd’s chairman John Nelson has said.
PRA to review Solvency II reporting requirements
The Prudential Regulation Authority is to conduct a review of Solvency II reporting requirements, in an attempt to ease insurers' reporting burdens.
UK regulators must actively support market on Brexit: Aubert
The UK's regulators need to actively promote London as a key insurance market, the chairman of the London Market Group has said.
LMG seeks new EU cross-border deal for market
The London Market Group has called for a new trade deal between the UK and the European Union that will allow insurers to operate across borders.
Charles Manchester on brokers using unrated insurers
Brokers are regulated by the Financial Conduct Authority, so they don't really come into contact with the Prudential Regulation Authority, which is primarily concerned with the soundness of insurers, ensuring protection for policyholders.
FCA launches consultation on handbook changes
The Financial Conduct Authority has launched a consultation paper on the handbook changes needed to reflect the new insurance linked securities regime.
ABI calls for changes to ‘flawed’ Solvency II risk margin
Insurers have submitted a request to the regulator for changes over a “flawed” portion of Solvency II.
Blog: Insurers must prepare for disasters
Planning the response to large-scale catastrophes is a must for all general insurers.
FCA publishes supervision plans for Insurance Linked Securities
The Financial Conduct Authority has outlined its proposed approach to the authorisation and supervision of Insurance Special Purpose Vehicles, which will facilitate Insurance Linked Securities business.
London Market welcomes proposed ILS reform
The London Market has welcomed the publication by the government of draft regulations for Insurance-Linked Securities for consultation.
Updated: Solvency II has 'not been worth it', ex-PRA director admits
Solvency II has "not been worth it", the former insurance director at the Prudential Regulatory Authority has admitted.
Aegis London appoints new CFO and compliance director
Aegis London has appointed Hermien Smeets-Flier as chief financial officer and Graeme Tennyson as director of risk and compliance.
QBE's Richard Pryce on why the insurance industry must seek certainty on Brexit
We all planned for it but it’s fair to say that few among us believed we would actually have to execute our Brexit contingency strategies.
Where are all the full-stack insurance start-ups?
Capital requirements and regulations have been blamed for putting off new full-stack insurers from establishing in the UK but Brexit won't necessarily help start-ups.
French regulator to 'speed up' licensing for UK firms following Brexit vote
The French stock market watchdog will simplify licencing procedures for UK businesses considering relocating to France following the Brexit vote.
Market reacts to PRA consultation papers on Solvency II
The Prudential Regulation Authority has released a consultation paper with a draft supervisory statement on its expectations of insurers in significant loss events.
Nelson: Brexit is an opportunity to offload ‘burdensome’ regulation
Lloyd’s chairman John Nelson has called for the UK to abandon “overly burdensome” regulation following Brexit.
