Regulation
New Act to bring 'peace of mind' for consumers
The Consumer Insurance Act will give “added peace of mind” to customers who will “not be declined if they unknowingly fail to disclose information to their insurer” when buying insurance products, according to the Association of British Insurers.
Insurance Insight Q+A: Frederik Wulff
As the head of Markel-owned Anglo Underwriting, Frederik Wulff is well placed to comment on liability trends. He tells Francesca Nyman about the pitfalls of medical malpractice business, the changing regulatory environment, and new opportunities in…
‘Worrying trend’ for over-regulation making UK market less competitive
Rising regulatory costs are becoming a financial burden the UK’s insurance market can ill afford in the face of international competition, Lloyd’s finance director Luke Savage has warned.
Leader: Beyond a joke
“It is understood European decision makers are poised to broaden the scope of the Gender Directive – which has also impacted the setting of premiums in the life and annuities markets – to cover cats and dogs.”
View from the Top: Crucial differences
Technology firms that fail to grasp the differences between PI and E&O insurance put themselves at risk, says David Legassick.
Tevez trial prompts MIB outcry on uninsured drivers
Carlos Tevez' trial for driving while disqualified and without insurance has prompted the Motor Insurers' Bureau chief executive to call on footballers to set a better example to young drivers.
Post magazine – 4 April 2013
The latest edition of Post magazine is now available to subscribers as a digital and interactive e-book.
Top 5 European news stories
The top 5 stories from www.insuranceinsight.com over the past seven days.
EU-US dialogue project agrees five-year plan
The Steering Committee of the EU-U.S. Insurance Dialogue Project has agreed on a high level work plan from 2013 to 2017.
New regulator reveals 12-strong board
The 12 new members of the Financial Conduct Authority board have been named ahead of the new twin-peak regulatory system taking over from the Financial Services Authority on 1 April.
FCA business model met with trepidation in insurance industry
Fears have been voiced by the insurance industry that the new regulators will intrude too much into the commercial sphere and that having two bodies will cause inefficiency.
Leader: Once, twice, third time’s a charm?
The idea of regulation is not new for the insurance industry. In November 1998, a government statement concluded that statutory regulation was not suitable for the general insurance market.
View from the Top: Get behind Steve
Congratulations to Steve White on his appointment to the role of chief executive at the British Insurance Brokers Association.
Industry divided over Eiopa's Solvency II guidelines
Industry players have been divided in their response to the draft Solvency II guidelines released by the European Insurance and Occupational Pensions Authority.
Eiopa chairman defends Solvency II guidelines
The chairman of the European Insurance and Occupational Pensions authority has defended its draft Solvency II guidelines as “an important step in the right direction that will help national authorities”.
Early implementation of SII elements 'burdensome' for UK firms
The European Insurance and Occupational Pensions Authority has published four consultation papers containing guidelines on the elements of Solvency II that it wants national supervisors implemented by national supervisors from 1 January 2014 on a "comply…
Post magazine – 28 March 2013
The latest edition of Post magazine is now available to subscribers as a digital and interactive e-book.
Savage upbeat on motor market outlook
Lloyd's finance director said the UK motor insurance market is "over the worst of the soft cycle" and has expressed confidence that upcoming government reforms will further improve the sector's outlook.
Eiopa begins consultation on Solvency II guidlines
The European Insurance and Occupational Pensions Authority today launched public a consultation on guidelines for Solvency II preparation.
Future Group to sell GI stake
Future Group today entered into a non-binding agreement to merge L&T General Insurance with Future Generali India Insurance, according to reports in the local media.
E&Y welcomes long term financing consultation
Ernst & Young has joined Insurance Europe in welcoming the green paper on long-term investment issued by the European Commission yesterday.
SRA issues PI referral fees ban guidelines
The Solicitors Regulation Authority has issued guidance and support for those in need of advice ahead of the introduction of the referral fees ban in personal injury cases.
Top five European news stories
The top five European stories from www.insurancensight.com over the past seven days.
Government panel recommends unified Indian regulator
An Indian government panel wants a unified financial regulator.