Regulation
Blog: TPT was never going to be enough
No one said the transition to Solvency II reporting was going to be easy, particularly the requirement for insurers to provide detailed look-through data on their investment portfolios. But, having witnessed the beginnings of this new regulatory…
Blog: How insurers are coping with Solvency II
Solvency II came into force on 1 January, establishing a revised set of capital requirements and risk management standards. Despite the long build-up to the implementation, several last-minute changes left much of the industry scrambling to prepare for…
EC looks to define 'motorised vehicles' in MID to solve Vnuk exemptions
The European Commission is considering reviewing the definition of motorised vehicles in the Motor Insurance Directive to help avoid the need for vehicle exemptions following the Vnuk ruling.
ABI warns of changes to broker commission
It is “only a matter of time” before regulators start to make broker commission more transparent, the Association of British Insurers warned today.
Airmic 2016: Risk managers concerned about broker conflicts of interest Airmic survey finds
Risk managers are increasingly worried about broker conflicts of interest and broker-controlled capacity according to the annual Association of Insurance and Risk Managers survey.
Digital: Snooping in the age of social media
The access that private and public bodies have to our personal data has been a continual point of debate in the electronic age and the current passage through the Houses of Parliament of the Investigatory Powers Bill is a case in point
C-Suite Insurer: LV's Euros Jones on why commercial insurance needs agility
Insurers must strengthen broker relationships and adapt their solutions for customers in order to survive
Revealed: FCA and PRA unprepared for a Brexit
The industry’s two main regulators have not carried out any formal review of the potential impact of a Brexit, an investigation by Post can reveal.
Blog: Enterprise Act - how other jurisdictions have dealt with late payments
The absence of a right to damages for late payment of claims in English law was based upon a legal fiction that the insurer's obligation is to hold the policyholder harmless against the insured peril, and any recovery under the policy constitutes damages…
Interview: Clive Clarke, Airmic
Incoming Airmic chair Clive Clarke talks to Burhan Khadbai about his journey to the role and the key issues facing the risk management and insurance communities
Editor's Comment: Are you in or out?
I’m a floating voter. I don’t consistently vote for the same political party.
Government accepts Insurance Fraud Taskforce recommendations
The government has accepted the recommendations it has been given by the Insurance Fraud Taskforce and has called for the whole industry to tackle the issue.
Gable sale on the table as full Solvency II compliance deemed ‘not possible’
Unrated insurer Gable Holdings will launch a full strategic review following an assessment of its Solvency II capacity, a move likely to result in a “fundamental restructuring”, according to a statement to the stock exchange.
Trade Voice: Higher standards of legal professionalism to tackle claims woes
For some, claims litigation is big business. The claims market is remarkably resilient and adaptable, seemingly capable of an endless identification of new claims opportunities to maintain and grow revenue and profits
DFT confirms it will amend Road Traffic Act to cover driverless technology and invites insurers to consult on legislation
A government minister has called for the insurance industry to participate in a consultation over regulations surrounding the cover of autonomous vehicles.
Blog: Trolley or dolly? Machines, ethics and liability
The 'trolley dilemma' is a thought experiment from the 1960s that questions the ethical course of action when having to choose between two outcomes
C-Suite - Insurer: Allianz's David Martin on the scourge of underinsurance
Poorly judged estimates in the SME market can leave customers seriously out of pocket when it comes to making a claim.
KPMG to let insurers compare Solvency II data
KPMG has today launched a Solvency II data aggregation service that allows insurers to benchmark themselves against other insurers.
Biba 2016: Brokers need support for innovation
The British Insurance Brokers' Association has called for more support for innovation in the insurance broking sector, in response to HM Treasury’s consultation paper on innovation for financial services.
FCA bans former broker Terence Joint from 'significant influence functions'
The Financial Conduct Authority has banned former insurance broker Terence Joint in relation to the handling and misapplication of client money between April 2011 and June 2012.
Enterprise Act to come into force on 4 May 2017
The Enterprise Act was granted Royal Assent yesterday (4 May), with policyholders able to claim damages for the late payment of insurance claims in 12 months' time.
Trade Voice: The ABI's James Dalton on the public perception of insurance
Perception does not always reflect reality. If it did, then public perceptions of the insurance industry - and our reputation - would be better than they are.
Expertise from A-Z - Personal injury reform: Brave new world?
Claims management companies are to come under the remit of the Financial Conduct Authority. What effect will this have on the sector?
Expertise from A-Z - Personal injury reform: Shaking up the compensation culture
Three years after reforms, the underlying problems with the compensation system are still prevalent. What can be done to provide tangible change?