Regulation
ABI 2014 Motor Conference round-up
All the big stories from the ABI motor conference.
Editor's comment: The regulation pantomime
As we head into the pantomime season, it seems the insurance market’s Sleeping Beauty has awoken – and she means business.
PRA senior insurance managers regime sparks fears of bank-like regulation
Consultation reveals plan for more stringent controls on senior staff
C-suite - Broker: A bright new age for forecasting
A new Met Office supercomputer could provide more accurate models for insurers
MoJ’s Grayling outlines 1 April start for whiplash portal MedCo
The new regime to accredit and distribute work to medico legal firms will go live on 1 April 2015 it was announced today.
MP moots option of second CMA review into motor insurance
A Conservative MP has raised the prospect of a second Competitions and Market Authority review into the motor insurance sector after the next election.
Legal Update: Autonomous Vehicles: Motor evolution is imminent
Nick Rogers explores the coming changes to insurance that driverless cars will bring
14% of EU insurers fail 'baseline' EU stress tests
A test of more than half of Europe’s insurers by market share has found that one in twelve are currently likely to fail to meet solvency capital requirements when the Solvency II regime launches in just over a year.
PRA consults on regulatory regime for insurance bosses
The Prudential Regulation Authority is consulting on introducing a senior insurance managers regime to ensure those running regulated insurance companies behave with integrity, honesty and skill.
North of the Border: Counting the cost of H&S
Since October 2012, the Health and Safety Executive has sought to recover the cost of investigating an alleged breach of health and safety law from the organisation in question, rather than draining the public purse. It charges £124 per hour.
C-Suite - Insurer: The features of fracking
The rise of fracking in the UK means significant opportunities for the environmental insurance market
Trade voice: Still no laws over late payments
The Commercial Court recently handed down another judgment in the long-running matter of Starlight Shipping Company v Allianz Marine and Aviation Versicherungs AG & Ors [2014].
Claims Club Monthly Missive: Driverless cars, connected homes and PPOs
From Tennessee to London, over the past few months I have heard a considerable amount about the future of insurance.
MoJ opens consultation on hiked CMC fees
The Ministry of Justice has opened a new consultation into the regulation fees paid by claims management companies for the 2015/16 regulation year.
Europe: Ukraine - a wait and see game
Will the recent and ongoing turmoil in Ukraine and the exit of Russian insurers from the region mean new opportunities for Western insurers?
Dates announced for dissolution of parliament and general election in 2015
The Leader of the House has announced that, subject to the progress of business, the last sitting day of parliament before the dissolution prior to the General Election will be on Thursday 26 March 2015.
PRA set to issue individual firm reviews following reserve release warning
Letter to industry CEOs raised concerns over the sustainability of reserve releasing
C-Suite - Insurer: Is Solvency II worth all the hype?
In just 13 months Solvency II will be implemented – but what does this actually mean?
Financial crime risk management no longer 'tick box' exercise says EY
Small commercial brokers face an uphill struggle to ensure they are meeting the the Financial Conduct Authority's expectations on financial crime risk management, according to EY.
FCA slams SME commercial brokers for narrow bribery risk control
The Financial Conduct Authority has accused small commercial insurance intermediaries of failing to manage bribery and corruption risk effectively.
Creditors of liquidated broker EPLS owed more than £500,000
Blocked London insurance broker EPLS Risk Solutions is in more than £500,000 of debt to creditors, according to its liquidators.
IMD II heads for European Parliament negotiations
The second edition of the Insurance Mediation Directive is to head for the European Parliament for negotiations over adoption following approval from the European Council.
Experian and Confused partner on fraud detection offering
Experian is to work with aggregator Confused.com to offer insurers the ability to understand fraud risk at the point of quote, Post can reveal.