Regulation
BUDGET 2010: PwC: Budget delivers some positives
Pricewaterhouse Coopers claims the emergency budget has delivered a number of positives for the insurance industry.
BUDGET 2010: Chancellor reveals corporation tax cuts
Chancellor of the Exchequer George Osborne has pledged to cut corporation tax by one percent for the start of the next financial year.
Aviva chair joins Cable's business advisory group
The members of the Business Advisory Group established last month have been confirmed. The group will act as an informal advisory board to the Secretary of State, Business, Innovation and Skills, Vince Cable.
Mexican body joins international trading agreement
The International Association of Insurance Supervisors has admitted Comision Nacional de Seguros y Fianzas, Mexico to the list of signatories of the IAIS Multilateral Memorandum of Understanding.
Mexican body joins international trading agreement
The International Association of Insurance Supervisors has admitted Comision Nacional de Seguros y Fianzas, Mexico to the list of signatories of the IAIS Multilateral Memorandum of Understanding.
Reduced US collateral requirements to benefit reinsurers – Moody’s
While most counterparty security procedures are getting stricter, global reinsurers are poised to benefit from reduced collateral requirements, which will be credit positive for their bondholders, according to the ratings agency.
Deregulation of health and safety legislation is going to be "challenging"
This is according to Garwyn, who has responded to Lord Young's announcement that he will be conducting a review of health and safety legislation to crack down on the compensation culture in the UK.
CBG issues IPT warning
CBG Group has warned that increasing the level of insurance premium tax is likely to deter customers from buying adequate cover.
IUA calls for "well informed" insurance regulator
The International Underwriting Association has called on the coalition government to ensure that there is a strong insurance prudential regulator as part of its shake-up of the financial services industry.
China regulator aims to open more investment channels for insurers
The China Insurance Regulatory Commission (CRIC) is discussing loosening the investment channels of insurance companies, according to newswire the Xinhua News Agency.
XL Re becomes first Bermudan reinsurer to qualify as eligible in Florida
XL Re, the global reinsurance operations of XL Capital has announced that it has received approval from the Florida Office of Insurance Regulation (FIR) to qualify as an “Eligible Reinsurer” in Florida, pursuant to requirements set forth by the Florida…
Hoban outlines regulation plans
Mark Hoban, financial secretary to the Treasury, has addressed the House of Commons following George Osborne's Mansion House speach last night on the breaking up of the FSA.
Compliance firm urges industry to work together for regulatory change
Wolters Kluwer Financial Services UK managing director Dean Curtis has urged the financial services sector to pull together to ensure the Chancellor George Osborne’s regulatory changes are effective.
Personal injury disputes jump 32% in two years
The number of personal injury claims continues to surge despite reforms to regulate claims handling companies, according to statistics obtained by Sweet & Maxwell.
FSA break-up: What's your view?
The Chancellor of the Exchequer has sounded the death knell for the Financial Services Authority.
US targets two insurers, banks, shipping and energy sector in new Iran sanctions
The US Treasury on Wednesday blacklisted more companies – putting them off limits to US businesses - including two insurers.
ABI warns government against adding to burden of costs
The Association of British Insurers has said that it is "open minded" to regulatory changes to the financial services sector.
SEC ends probe of AIG and executives
US regulators have closed an investigation of AIG and some of its executives over the insurer's near collapse in 2008 that led to a $182bn government bailout, according to newswire Reuters.
Sants to head transition to new financial regulatory body
Hector Sants has agreed to remain as chief executive of the Financial Services Authority and to lead the transition and the creation of a new prudential authority.
Chancellor outlines future of financial regulation
The Chancellor of the Exchequer has outlined the government’s intention to hand over regulatory control of the financial services sector to the Bank of England.
US targets two insurers, banks, shipping and energy sector in new Iran sanctions
The US Treasury on Wednesday blacklisted more companies – putting them off limits to US businesses - including two insurers.
Law firm criticises government plans
Law firm CMS Cameron McKenna has said that the government’s plan to split supervision and enforcement of the financial services industry will “dissipate responsibility”.
FSA powers to be cut
Chancellor George Osborne has confirmed that he will give the Bank of England the key role in regulating the UK financial sector, the BBC reports.
Airmic chief executive reveals what’s next for non-disclosure
As the Association of Insurance and Risk Managers unveiled its plans this week to tackle the failings of UK insurance law on the key issue of non-disclosure, Lynn Rouse spoke to chief executive John Hurrell to get more detail on what will happen and when.