Regulation
Regulation of loss adjusters in the spotlight again
The European Insurance and Occupational Pensions Authority has advised that regulation of those fulfilling the "claims" aspects of insurance contracts would be part of Insurance Mediation Directive 2.
Ombudsman blames rise in motor insurance policy complaints on recession
The 26% increase in motor insurance complaints from consumers in the past financial year is "likely to reflect the tougher economic times", according to the Financial Ombudsman Service.
Ombudsman reports 51% increase in PPI complaints
Complaints to the Financial Ombudsman Service about payment protection insurance increased year on year by 51%, and accounted for 60% of all new cases in 2011/2012.
Law firm calls for tighter laws on metal theft
A City law firm has called on the government to resurrect the Metal Theft (Prevention) Bill and tackle the scrap dealers head-on.
What is contained within Penny's Little Black Book?
Having been wined and dined by the great and the good of the insurance industry for over 12 years, one has decided to team up with the CII to collect the best bits from my weekly column and bring them to you in the shape of this little black book.
EU considering impact on trade of Iranian oil insurance ban
Britain and France are studying a proposed European Union ban on insuring tankers carrying Iranian oil to see how severe an impact it would have on trade with non-EU countries, Reuters reported.
Guernsey Finance deputy CEO to take on head role
Fiona Le Poidevin has been promoted to chief executive with effect from 30 June.
Microinsurance not an adjunct to microfinance, says Indian regulator
Microfinance institutions have come under fire from the head of India's insurance regulator for high service charges on the sale of microinsurance products.
Insurers oust banks as major hybrid capital players
Insurers have supplanted banks as major players in the hybrid capital section of the European bond market as a result of regulatory uncertainty, according to Financial News.
Competition with caveats for Burma's insurance sector
The beginnings of competition are to be seen in Burma's insurance industry, as private companies are allowed to offer insurance products for the first time.
Top 10 news stories
The top 10 most popular articles published on insuranceinsight.com over the past seven days.
Solvency II detractors told to end futile griping
European insurers should stop complaining about the impending regulatory overhaul as they have had ample time to make preparations, according to Old Mutual finance director Phillip Broadley.
Extraterritorial regulation prevents firms entering foreign jurisdictions
Extraterritorial regulation is preventing financial firms from entering overseas jurisdictions, according to a recent survey.
Solvency II not just about capital requirements, says Bernardino
Solvency II should be seen as more than a "check the box" regulatory exercise that determines capital requirements, according to Eiopa president Gabriel Bernardino.
IRDA will pave way for Lloyd's to enter India
India's government is planning to push through the insurance reforms bill that is set to retain the foreign direct investment cap in the sector at 26%, but will allow "modifications" to enable Lloyd's of London to enter the Indian market.
Redomiciling still an option for dissatisfied Prudential
Prudential may still relocate outside the European Union as its lobbying campaign to alter Solvency II rules has failed to make a breakthrough thus far, according to Reuters.
Belarus targets regulatory overhaul of insurance market
A major overhaul of the Belarus insurance industry is being planned in an effort to close the gap between Belarus and its European neighbours, according to online news agency Xprimm.
China publishes draft proposals on agricultural insurance
China has issued draft proposals for regulating agricultural insurance to solicit public opinion on the measures designed to promote the sound development of the farming sector, according to a circular published by the Legislative Affairs Office of the…
Top 10 news stories
The top 10 most popular articles published on insuranceinsight.com over the past seven days.
Uncertainty over Solvency II start date affects firms' preparations
Over 75% of insurance companies believe Solvency II implementation will be delayed beyond the intended start date of 1 January 2014, according to research by UK firm Barnett Waddingham.
Insurers expect further Solvency II delays
More than three quarters of insurance companies believe that the Solvency II implementation date will be delayed beyond 1 January 2014, according to research conducted by actuary Barnett Waddingham.
UAE wins solvency reprieve
United Arab Emirates' insurance companies have won a three-year reprieve on solvency issues.
EIOPA says regulators must overrule Solvency II confidentiality agreements
The European Insurance and Occupational Pensions Authority has ripped up confidentiality agreements between insurers and third-party Solvency II consultants selling validation models.
AMICE report charts rise of European mutuals
Mutual and cooperative insurers now have a 26% share of the European insurance market, according to a report by the Association of Mutual Insurers and Insurance Cooperatives in Europe.