Regulation
Broking focus - Bribery Act: On the right side of the law
London market brokers transacting across international boundaries need to revisit their risk and compliance provision in the face of draconian new UK bribery legislation, reports Ralph Savage.
New FSA regime may boost D&O/PI take-up
The Financial Services Authority's tough enforcement stance could lead to an increase in demand for certain commercial insurance products, Reynolds Porter Chamberlain partner Jonathan Davies has claimed.
Comment - Part 36: All reward, no risk
A recent Court of Appeal case highlighted the issues of funding and cost recovery. Victoria Cargill reports on the outcome.
One in ten yet to launch Solvency II projects
More than 10% of insurers are yet to begin preparations for the upcoming Solvency II implementation, research by PricewaterhouseCoopers has revealed.
One in ten yet to launch Solvency II projects
More than 10% of insurers are yet to begin preparations for the upcoming Solvency II implementation, research by PricewaterhouseCoopers has revealed.
Financial Services Commission obtains £6.2m judgement against Rock directors
In what is claimed to be a first of its kind judgement in the Supreme Court of Gibraltar, the Financial Services Commission has obtained £6.3m judgement against former directors of Rock Financial Services.
Financial Services Commission obtains £6.2m judgement against Rock directors
In what is claimed to be a first of its kind judgement in the Supreme Court of Gibraltar, the Financial Services Commission has obtained £6.3m judgement against former directors of Rock Financial Services.
AIG fined for misreporting $2.12bn of workers comp premium
AIG and its workers compensation insurance affiliates have agreed to pay $100m (£65m) in fines to insurance regulators in all 50 states and the District of Columbia for alleged premium under-reporting, acting Pennsylvania Insurance Commissioner Robert L…
Jackson's “grotesque” comment highlights the flaws in his own proposals for reform
Comments made by Lord Justice Jackson in his judgment in the Court of Appeal case of Pankhurst v. White, highlighted the fact that, if Jackson’s own proposals were adopted, solicitors would be entitled to deduct up to 25% of a claimant’s damages,…
Bruce Stevenson wins Ofgem contract
Edinburgh-based insurance broker Bruce Stevenson Risk Management has been appointed to work with Ofgem as part of the UK government’s support for offshore wind generation.
Bruce Stevenson wins Ofgem contract
Edinburgh-based insurance broker Bruce Stevenson Risk Management has been appointed to work with Ofgem as part of the UK government’s support for offshore wind generation.
FSA fines hit record high
The Financial Services Authority handed down a record-breaking £88.4m in fines in 2010 (to 20 December).
RAA backs reinsurance reform
The Reinsurance Association of America has voiced support of the Federal License for Reinsurers Act of 2010.
Inperfectharmony
New minimum harmonisation requirements being proposed by the EU for IMD2 hope to level the regulation playing field. Vic Wyman reports.
Career development & CSR news: Bidding war over IT staff
The insurance sector is being forced to increase pay for actuarial IT professionals by up to 50% as insurers upgrade their systems to be compliant with new regulatory standards, according to Rethink Recruitment.
Legal update - NHS recvoery scheme: Getting cash back
New tariffs introduced this year for the Injury Cost Recovery scheme have the potential to impact insurers. Peter Forshaw examines fears that the scheme may be extended further.
Inperfectharmony
New minimum harmonisation requirements being proposed by the EU for IMD2 hope to level the regulation playing field. Vic Wyman reports.
Lloyd’s & London market – review of the year: Troubled times
A succession of natural catastrophes got 2010 off to a bad start and the market continued to struggle - but the resolution of Brit’s future and the prospect of consolidation could see the year end on a high. Mairi Macdonald reports.
Warning over reserves as retirement age rises
Insurers have been urged to review their reserve levels, as the proposed abolition of the retirement age could see claimants seeking increased compensation in personal injury cases.
News Analysis - IMD: In perfect harmony
New minimum harmonisation requirements being proposed by the EU for IMD2 hope to level the regulation playing field. Vic Wyman reports.
News Analysis - IMD: In perfect harmony
New minimum harmonisation requirements being proposed by the EU for IMD2 hope to level the regulation playing field. Vic Wyman reports.
Sants: PRA to have stronger failure focus
The Prudential Regulation Authority will be more focused on reducing the impact of firm failure than the Financial Services Authority, FSA chief executive Hector Sants has revealed.
FSA authorisations taking 'twice as long' as last year, says law firm
The length of time it takes the Financial Services Authority to grant firms permission to expand their businesses has more than doubled in the last year.
CEA lays out IMD stance
The CEA, Europe's insurance and reinsurance federation, has set out its views on the European Commission’s review of the Insurance Mediation Directive.