Regulation
ABI talks over Pandora's box
The Association of British Insurers has claimed that the introduction of legislation against the use...
FSA calls on insurers to be more proactive
Two out of every five claims operations are failing to keep policyholders informed of progress with ...
The FSA will speed up process of authorising new insurers
The Financial Services Authority has said it will speed up the process of authorising new insurers i...
What the papers said this week
The Sunday Times Millionaire businessman Johan Eliasch has bought a 400,000-acre plot in the heart ...
Clubs should be aware and protect themselves
I read with interest the 'Liability for amateurs to increase' article regarding insurance for amateu...
Regulation to ease on home and motor
Commoditised lines of business, including home and motor insurance, may be the first to benefit from...
Making change happen
It is an almost universal refrain that the London market needs to change (as do regional markets) bu...
The DTI's proceedings delayed yet again
The Department of Trade and Industry's proceedings against The Accident Group director Mark Langford...
Regulators target PPI in crackdown
The Financial Services Authority and the Office of Fair Trading are to produce an action plan, published by the end of April, setting out how they believe they can deliver benefits to consumers and firms by:
MVRA in health and safety drive
Vehicle repair trade body MVRA has appointed Richard Lawrence as its health and safety advisor for the South East area. Richard joined MVRA on February 27th. His appointment is part of MVRA’s ongoing development strategy for its health and safety…
Scor recovery continues
French reinsurer Scor has continued its return to financial good health by posting a €131m profit for 2005, up 75% on the €75m it made over 2004.
Intermediary body disappointed with FSCS time table
The Association of Independent Financial Advisers has said it is disappointed that the Financial Services Authority's proposals for a new compensation scheme will not be implemented until the 07/08 fee year.
ABI to feed into FSA compensation work
The Association of British Insurers has thrown its hat in the ring to seek constructive dialogue with the Financial Services Authority over the reform of the compensation scheme.
FSCS concerns lead to FSA action
The Financial Services Authority today outlined four possible options for the future funding of the Financial Services Compensation Scheme, following concerns raised about the fairness, proportionality and sustainability of the present funding…
Aviva/Pru merger could lead to rating upgrade
Fitch Ratings has today said that any merger between Aviva and Prudential could result in changes to their ratings. This follows from Aviva's announcement of its proposal to acquire Prudential for £17bn. Aviva's all-share proposal has been rejected by…
FSA lets industry off the hook on contract certainty regulation
The Financial Services Authority will not increase its regulatory powers over the insurance industry by implementing rules governing contract certainty. In a speech given by the regulator's chief executive, John Tiner, today the FSA said the plans were…
Hedge funds walking liability tightrope
Hedge fund managers appear to be in a state of denial regarding their liability to the fund for losses arising from trading errors warned Reynolds Porter Chamberlain at its Annual Directors' & Officers' insurance seminar.
Bahrain given clean bill of health in IMF Report
The International Monetary Fund (IMF) has published a positive financial sector assessment programme (‘FSAP’) review of the Kingdom of Bahrain.
AM Best puts Odyssey on negative review after 10-K delay
AM Best has placed the financial strength rating and the issuer credit and debt ratings of the operating subsidiaries of global reinsurer Odyssey Re under review with negative implications following the company's announcement that it will delay the…
Aviva target confident of independence
Aviva target Prudential has issued a statement reiterating its desire to remain independent.
Aviva spurned in UK global powerhouse bid
The much touted tie-up between UK insurance giants Aviva and Prudential saw the former's written proposal rejected by the Board of Prudential over the weekend. However, the Board of Aviva said today the issue was now open to Prudential's shareholders to…
Claims handling: Positive picture from general insurers says FSA
Most general insurance firms are handling claims well, a review carried out by the Financial Services Authority has found. The review unveiled exclusively at this morning Post Magazine Claims Club also identified some areas for firms to consider in their…
CEA welcomes EU flood directive
Comité Européen des Assurances has welcomed the European Commission’s proposal for a directive on the assessment and management of floods. By aiming to help Member States to prevent and limit the consequences of floods, the proposed directive addresses…
Mayor puts demand for homes before the environment
Environmental standards are being undermined by the need to meet demands for homes in London according to new research published today by the London Assembly.