Regulation
Industry bodies express concerns over new regulator plan
Insurance and broker associations have welcomed the Government’s proposed regulatory reforms in their consultation responses. However, they have also expressed concern its plans could be too “ambitious”, which may potentially cause delays.
Exposure to sovereign debt could led to more downgrades
A worsening of the economic or investment landscape could result in an increase in negative outlooks or downgrades for insurers and reinsurers operating in Europe a report has found.
European insurers facing increasingly stricter regulatory frameworks
Regulatory, accounting and rating agency changes are occurring rapidly globally, albeit at a different pace by region.
APIL demand widespread coroner service reforms
The Association of Personal Injury Lawyers has described the draft charter designed to improve the coroner service as “no replacement” for the planned full-scale reforms which were dropped by the coalition government.
Pro Legal warns MoJ over “dangerous” referral fee decision
London-based law firm Pro Legal has hit out at the Ministry of Justice over its “dangerous” decision to ban referral fees claiming that the move would hurt consumers.
Parabis slams MoJ over referral fees
Parabis has criticised the Ministry of Justice’s decision to ban referral fees.
MMA appoints Solvency II chief
MMA Insurance has appointed Anthony Collins as head of actuarial focusing on the firm's preparations for Solvency II.
Axa urges MoJ to cut legal costs
Insurer Axa has welcomed the Ministry of Justice’s ban on referral fees but has urged the government to tackle lawyers fixed fees.
Biba calls for riot notification changes
The British Insurance Brokers’ Association has urged the government to change the Riot Damages Act notification period permanently from 14 to 42 days.
Costly referral fee ban rejected as claims firm details lobbying alternative
Ai Claims Solutions is set to lobby MPs with a four-point plan to reform the referral fees system in place of the "costly and timeconsuming legislation" of an outright ban.
Editor's comment: A new way of looking at things
Usually I reserve my commentary for the market’s latest developments, seeking to pinpoint emerging trends or highlight questionable practices – both those within the industry and, more often than not, those that adversely impact upon it.
News analysis: Personal injury lawyers on the defensive over litigation claims
Allegations of inflated legal claims cost submissions have found backing from insurers
BIS Countdown: Sir John Grieve - In the eye of the storm
As deputy governor of the Bank of England, Sir John Gieve was in the centre of the worst financial crisis for a century. What has hindsight revealed and what are his views on the subsequent regulatory shake-up?
Monte Carlo Rendezvous: A year of catastrophes
2011 has seen a series of serious natural catastrophes follow fast on those of 2010. How will this shape debate next week at Monte Carlo?
9/11 Contract certainty: The first steps taken
A rush of legal cases always followed a catastrophic loss before contract certainty was introduced. The attacks on 11 September 2001 thrust the issue into the spotlight but were other factors at play?
Post Magazine - 8 September 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
SRA responds to ABS delay
The chair of the Solicitors Regulation Authority, has responded to comments relating to the delay in the SRA becoming an approved regulator of Alternative Business Structures.
Reinsurance market reassured by AM Best there is hope
AM Best said there are hopeful signs emerging for the global reinsurance industry after years of a soft market, weak investment returns, lukewarm investor interest and sluggish consolidation activity.
Global reinsurance outlook no longer negative
Moody's Investors Service has changed the outlook on the global reinsurance sector from negative to stable reflecting the momentum for a hardening in reinsurance rates, a refocusing on the value of reinsurance, and the good risk management and discipline…
Link4 responds to Polish brokers class law action news
Link4 has responded to The Polish Chamber of Insurance and Finance Intermediaries' announcement that 35 insurance intermediaries have filed a class action lawsuit for €3m.
Law firm Pannone considers ABS
Pannone is looking at its options to become an Alternative Business Structure having established its affinity solutions division less than a year ago.
Austrian insurer Vienna Insurance Group to merge Polish subsidiaries
Austrian insurer, The Vienna Insurance Group, intends to increase its sales power in the Polish non-life market by merging the companies Inter Risk and PZM.
Mayer Brown appoints insurance industry partner
Law firm Mayer Brown has today announced the appointment of Colin Scagell to the corporate and securities practice and Insurance Industry Group in London.
Insurance Insight September: Renewable energy, mobile technology and THB
Insurance Insight September is now live with an article on insurers’ growing interest in renewable energy; a look at the new demand for mobile insurance; and an interview with broker THB to find out about its latest expansion plans.