Regulation
Hitachi Capital group finance director leaves
Hitachi Capital, the MPPI and GAP underwriter, has announced that group finance director, Barbara Iversen, is to leave the group, having decided to relocate to the North of England for family reasons.
Florida mulls reinsurance pool
Florida Governor Jeb Bush is considering a state-run reinsurance pool or joint underwriting pool to help businesses that can't get policies from private insurers, saying that if companies can't get coverage, it could lead to an economic downturn.
Allianz dismay at Flora judgement
After the Court of Appeal's refusal to allow Allianz Cornhill’s application in Flora v Wakom, the insurer has released the following statement. The company was hoping to strike out that part of Mr Flora's claim which sought to link any Periodic Payments…
FSA to end audit requirements for small firms
The Financial Services Authority has announced that it will remove audit requirements from regulated small firms and appointed representatives.
Rain or shine
Professional Indemnity focus: Brokers
Bill may slow down insurer legal deals
Insurers and lawyers have expressed concern that plans to allow outside ownership of law firms could...
Forbes brushes off resignations
Alexander Forbes has played down the significance of three resignations at its Network Direct busine...
London warned to prepare itself
A total of 12 key recommendations have been levelled at the government, property developers, the wat...
Hidden depths
Professional indemnity Focus: Managers
Test of liability easier in manslaughter cases
Prosecutions against companies under new corporate manslaughter laws will be more straightforward an...
New body seeks Act compliance
The Association of British Insurers is lending its support to a new independent body aimed at helpin...
The FSA issues State of Misconduct against Steven Davis
The Financial Services Authority has issued a Statement of Misconduct against Steven Davis, former c...
Employers should guard against risk
I read with great interest the recent article by Messrs Dye and Holland on fleet risk management (PM...
FSA highlights AR failures
One-third of general insurance firms are failing to manage their appointed representatives to the ap...
Penny Black's insurance week
In one's experience, having the neighbours round for lunch can be stressful at the best of times but...
Former senior manager at Cologne Re has been 'prohibited'
A former senior manager at Dublin-based Cologne Re has been "prohibited" from performing any control...
FSA issues warning over broker cover
Another broker has gone into administration after the Financial Services Authority discovered it cou...
Legal Services Bill goes too far says Committee
A joint Lords and Commons Parliamentary Select Committee has today raised concerns over various aspects of the Government’s draft Legal Services Bill, most notably potential damage it might cause to the independence of the legal profession.
FSA censures broker boss
The Financial Services Authority has today published a Statement of Misconduct against Mr Steven Leslie Davis for falling well below acceptable standards in the way that he carried out his duties as a director of his firm. His misconduct led to…
New accounting standards have increased transparency: report
More than a third of insurers believe International Financial Reporting Standards have improved transparency and comparability within financial reporting, but further work is required to fully embed the new accounting rules in to their business processes…
Backdating stock options could hit D&O, claims Aon
The increased regulatory focus on the practice of executives backdating their stock options could have a major impact on the D&O market, with ramifications not just confined to North America, according to Aon.
Corporate Manslaughter Bill heads for conclusion
The Home Office has officially announced the final version of the Corporate Manslaughter and Corporate Homicide Bill. The contraversial legislation has produced mixed reactions from unions and business groups. A statement from the Home Office issued…
Reinsurance boss gets five year ban for helping inflate AIG earnings
A former senior manager at Dublin-based Cologne re has been 'prohibited' from performing in the UK any controlled function requiring regulatory approval.