Regulation
European Council introduces rule to limit short selling in crisis situations
The European Council has adopted a regulation designed to restrict short selling and certain aspects of credit default swaps in situations where there is a threat to financial stability.
Indian shipping firms may look to China for insurance
Indian shipping companies may turn to China in their struggle to find replacement insurance coverage when EU sanctions on Iranian oil come into force.
Quarter of Indian consumers think life insurance is not important
Insurers in India face an uphill struggle to persuade consumers of the need for life insurance, a recent study indicates.
Insurance Insight – top 10 stories
The top 10 stories from www.insuranceinsight.eu over the past seven days.
Insurers in the Philippines reject tax waiver
Non-life insurers and reinsurers in the Philippines have rejected a government offer of a 10% reduction in annual aggregate tax, according to reports in the local press.
Opening China's mandatory motor market won't harm domestic insurers
The Chinese government's decision to open the third-party motor liability market to foreign insurers is unlikely to adversely affect local insurers, according to the nation's biggest non-life insurer.
IRM launches Turkish version of ISO 31000 guidance
The Institute of Risk Management has launched a Turkish version of its ISO 31000 guidance.
The temporal scope of Rome II
Rome II was intended to bring about uniform choice of law rules but had left some uncertainty over when the regulation applied in cross border accidents. Tarek Uddin explains how the recent case of Homawoo has helped bring clarity.
Liberalising the Italian motor market
The Italian government is aiming to combat motor insurance fraud with its Decreee Cresci Italy. However, as Paolo Golinucci explains this might not be as straightforward as it seems.
MGAA elects board and targets FSA regulation
The Managing General Agents Association has formed its first elected board with Reg Brown as chair.
Garwyn calls for "thorough" fraud investigation of claims to tackle compensation culture
Liability adjuster Garwyn has welcomed the government's initiatives to tackle the compensation culture following the insurance industry's meeting with Prime Minister David Cameron and business leaders.
Law firm unsurprised by FSA Cole depature
Pinsent Masons is "not surprised" by Financial Services Authority boss Margaret Cole's departure because Martin Wheatley was appointed to chief executive of consumer protection and markets authority last year.
FSA boss Margaret Cole quits
Financial Services Authority managing director and board member Margaret Cole will leave the organisation later this year after seven years to seek "a fresh challenge".
Solvency II Timetable Uncertainty: Stopping the clock?
Despite the EC's denials, rumoured delays to the implementation of Solvency II continue to echo around the industry. What are the implications of a postponement to the directive?
Raymond James wins High Court litigation on restrictive covenants
International law firm Faegre Baker Daniels LLP has successfully defended its clients, Raymond James and seven former Edward Jones financial advisors, in a high-value High Court restrictive covenant claim, resulting in all claims being dismissed and…
Webinar: Closing the loop on records management and data security risk
In this video, Incisive Media’s group editorial services director David Worsfold chairs a lively discussion on records management and data security risk, including the challenges of managing records during the 2012 Olympic Games.
Post magazine – 16 February 2012
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Economic, regulatory and talent issues holding back growth for insurance CEOs
Over two thirds (70%) of insurance CEOs are planning on changing their strategy over the next 12 months as they try to see past the current difficult economic and regulatory backdrop, according to PwC.
Indian insurance industry to go electronic in 2013
India's insurance sector could move into a paperless system next year, as the Insurance Regulatory and Development Authority has confirmed it is currently choosing data repositories.
FATCA a significant operational challenge for European insurers
The proposed US Foreign Account Tax Compliance Act, published on 8 February, still remains a significant operational challenge for insurers, according to Ernst & Young.
CEA welcomes EU-US trade insurance working group
The CEA and the American Council of Life Insurers have welcomed the establishment by the Transatlantic Economic Council of a high level working group on jobs and growth.
European insurers consider PE and hedge funds for Solvency II liabilities
Insurers may look to alternative asset classes, such as private equity and hedge funds, as Solvency II gets closer, according to a report.
CIRC urges Chinese motor insurers to improve claims practices
Motor insurers in China have been given three years to improve their claims management practices by the regulator CIRC.
Bernardino urges EC to agree Solvency II timeline
The chairman of the European Insurance and Occupational Pensions Authority has again expressed concern about the impact of Solvency II delays.