Regulation
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.
Solvency II to have far-reaching impact
Fitch Ratings has said that it expects Solvency II, the European Union's new insurance regulatory regime, to have far-reaching effects on insurers, with both positive and negative credit rating implications.
Solvency II to have far-reaching impact
Fitch Ratings has said that it expects Solvency II, the European Union's new insurance regulatory regime, to have far-reaching effects on insurers, with both positive and negative credit rating implications.
Postbox: A Budget tax warning
With the new coalition government currently reviewing spending and revenue, many forecasters believe that the 5% tax rate on general insurance will be at least doubled in the emergency Budget due on 22 June.
Comment - ERM & Solvency II: Staying flexible
Liz Taylor warns about taking a mechanised approach to Solvency II and enterprise risk management, claiming an organic and flexible stance is better.
Airmic reveals solution to non-disclosure issue
The Association of Insurance and Risk Managers has unveiled plans to end disproportionate member penalties for inadvertent non-disclosure in a move it hopes will be mirrored by eventual insurance law reform.
Ceiops member disputes broker independence
Intermediaries that accept commission should be prevented by law from describing themselves as independent, according to a member of the Committee of European Insurance and Occupational Pensions Supervisors.
Tory Lord to consider PI ad ban
The Conservative Lord appointed to lead a review to put the “commonsense back into health and safety” rules has said he will look at banning personal injury firms from advertising their services.
Sally Dewar set to leave FSA
The Financial Services Authority has announced that Sally Dewar, board member and managing director of Risk, has decided to leave the organisation in May 2011.
PJ Hayman calls for standardisation of tax rates for insurance
P J Hayman, specialist travel insurance and schemes provider, calls on the new government to reassess the level at which Insurance Premium Tax is charged on travel insurance.
Evans is new insurance parliamentary group chair
The All Party Parliamentary Group on Insurance and Financial Services, for which Post provides the secretarait, elected former trade minister Jonathan Evans as its new chairman at a meeting in the House of Commons last night.
Biba calls for IPT freeze
The British Insurance Brokers’ Association is urging the government not to increase the 5% rate of insurance premium tax on insurance products in its Budget on 22 June.
ABI chair calls on government to put words into action over tax reform
The outgoing chairman of the Association of British Insurers Archie Kane, has launched an attack on European law makers for not differentiating between insurance and other financial services.
ABI chair calls on government to put words into action over tax reform
The outgoing chairman of the Association of British Insurers Archie Kane, has launched an attack on European law makers for not differentiating between insurance and other financial services.
Post Magazine - 10 June 2010
The latest issue of Post is now available to subscribers as a digital interactive e-book.
FSA takes action against two brokers over client money failings
The Financial Services Authority has today taken action against two insurance brokers - Delwyn Way of Shield Insurance Consultancy and Adrian Shillaker of Griffiths McAlister Insurance Brokers - for failing to adequately protect client’s money and assets.
Postscript - 10 years ago: Rule book gets cautious welcome
Looking through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 10 years ago reveals.
Call for travel database after fraudster is jailed
The travel insurance market needs a database similar to those in other markets in order to prevent travel insurance fraud.
Money Supermarket steps up fraud battle
Price comparison giant Money Supermarket is rolling out a revamped home insurance website, which includes improved measures to combat fraud.
Law firm's research critical of regulator authorisations
The Financial Services Authority has defended its approach to authorisation after research revealed a 71% time increase for companies to gain regulatory approval.
MP takes up asbestos battle
A Yorkshire MP has urged the new coalition government to back Labour proposals to establish an Employers' Liability Insurance Bureau.