Regulation
UK Supreme Court rules on asbestos trigger
The UK Supreme Court has put an end to years of uncertainty regarding asbestos payouts, ruling that the trigger date for mesothelioma claims is the date of exposure.
European Parliament wants EU-wide sanctions for cyber crime
Cyber attacks on IT systems will face criminal-law sanctions, according to a report by the Civil Liberties, Justice and Home Affairs Committee of the European Parliament released today.
Insurers and brokers sign up to CII internship good practice guide
The Chartered Insurance Institute has launched its first good practice guide for internships in the general insurance and financial services professions.
Lloyd's Solvency II July date will prevent FSA "application gaps"
Lloyd's has hit back at claims it is "struggling" to prepare its Solvency II internal model submission for the Financial Services Authority, stating the new July date ensures "no gaps in the applications".
Omnibus II faces three month delay
The plenary vote on the enabling legislation for Solvency II has been delayed by three months.
Philippines Insurance Commissioner promotes benefits of microinsurance
The Philippines Insurance Commissioner has urged members of the public to buy microinsurance to prepare for the future.
Insurance Insight – top 10 stories
The 10 most read stories from www.insuranceinsight.eu over the past seven days.
ISE 2012: Europe should prepare for the worst
European insurers should prepare for the worst but hope for the best according to Chris Smith, global Europe director for RSA.
ISE 2012: EIOPA sees ‘new spirit’ after Solvency II vote
There is a new spirit and momentum to Solvency II following this week’s vote according to the European Insurance and Occupational Pensions Authority.
ISE 2012: UK regulator’s emphasis on board role in risk management could attract “wrong” sort of execs
Following the bank crisis the Financial Services Authority in the UK has focused more closely on the board’s role in risk management in a move which could be bad for non-executive directors according to a legal expert.
IRDA scrutinises bank stakes in Indian insurers
Equity tie-ups between Indian insurers and their bancassurance partners are coming under scrutiny from India’s insurance regulator.
Ex-NY insurance superintendent calls for Solvency II equivalency
The former New York superintendent of insurance has warned that the transatlantic market could be destabilised if the Solvency II equivalency issue is not resolved.
Chinese government tightens insurance supervision
Administrators at Chinese state-owned insurance companies have been brought under higher-level supervision owing to the promotion of senior industry figures.
Insurance Europe disappointed by ECON's approval of long-term guarantees
Insurance Europe, formerly the CEA, welcomed the approval of the provisions in relation to non-life and health insurance by the European Parliament’s economic and monetary affairs committee today, saying it hoped to see them included in the final Omnibus…
Solvency II changes ignore industry concerns, E&Y says
The European Parliament’s Economic and Monetary Affairs Committee’s agreed Solvency II amendments disregards industry proposals, according to Ernst & Young.
Analysts praise ECON vote on Solvency II
Industry experts have praised the European Parliament Economic and Monetary Affairs Committee decision to back a series of Solvency II amendments.
Analysts praise ECON vote on Solvency II
Industry experts have praised the European Parliament Economic and Monetary Affairs Committee decision to back a series of Solvency II amendments.
Insurers in Philippines fight proposed capital hike
Insurers in the Philippines have locked horns with the country's Department of Finance over proposals to increase the capital requirements for insurers to P1bn (€17m) by 2016.
Guernsey and Malta sign double tax agreement
Guernsey has signed a comprehensive Double Taxation Agreement with Malta, the third tax agreement for the captive favourite, after deals with the UK and Jersey.
CEO of UK regulator to step down in June
Hector Sants, chief executive of the UK Financial Services Authority, has announced his intention to leave the organisation at the end of June 2012.
European insurers win ground in Solvency II debate
European Union insurers could be spared the full impact of solvency rules owing to a last-minute agreement on Thursday between senior lawmakers.
Asian states lobby EU in hope of Iran oil sanctions U-turn
European Union foreign ministers are expected to consider how the bloc's Iranian oil embargo will affect insurers at a meeting in Brussels next week, under mounting pressure from Asian states to change their stance.
Insurers still wary despite Solvency II deal ahead of vote next week
The European Parliament's two biggest parties have tentatively agreed to include measures related to Solvency II legislation that could save the industry billions and avoid a long delay to the rules' implementation, according to reports.
Solvency II unlikely to spark wave of relocations, says Fitch
Solvency II is unlikely to lead to a wave of European insurers moving their headquarters out of Europe as a result of concerns about third-country equivalence, particularly for the US, ratings agency Fitch has claimed.