Regulation
Lemma finance boss helped to supply 'false' returns
An investigation by Gibraltar’s Financial Services Commission has condemned the conduct of Lemma Europe’s de factor finance manager, finding he participated in filing returns which falsely indicated the insurer was complying with solvency requirements.
Biba to expand cost of regulation research to include non-EU markets
The British Insurance Brokers’ Association is revisiting research it conducted in 2011 on regulatory cost for brokers with plans to expand its scope to include key insurance markets outside the UK and Europe.
Scottish constitution: A separate health and safety regime for Scotland?
The Enterprise and Regulatory Reform Act 2013 is now in force across the UK, however what has gone largely overlooked thus far are the exceptions to ERRA and the potential for a uniquely Scottish approach to the regulation of health and safety.
Insurers facing 'fundamental issues' ahead of Solvency II implementation
Only half of insurers understand the full impact of Solvency II, according to PA Consulting Group, which claims the industry must overcome “fundamental issues” in order to be ready in time.
ABI GI boss Evans urges insurers to prepare for future challenges
Insurers should start preparing for future challenges impacting their business in the face of regulatory changes and an increased focus on digital, the Association of British Insurers’ policy director and deputy director general has said.
Post Magazine - 21 November 2013
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Consultants welcome timeframe clarity from Omnibus II decision
Consultancy firms have welcomed the Omnibus II agreement reached by the European Union trilogue parties saying the deal will provide insurers with much-needed clarity.
Solvency II on track after Omnibus II deal reached
An agreement on Solvency II has been reached by the trialogue parties of the European union, putting an end to years of political wrangling.
FCA alert to issues with broker sidecar deals
The Financial Conduct Authority has its eye on broker facility deals in the London Market, such as the one forged between Aon and Berkshire Hathaway.
Post Magazine - 14 November 2013
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Post Magazine - 7 November 2013
The latest issue of Post Magazine is now available for Post subscribers. Download the latest Post iOS App Edition on the App Store or read the Post Digital Edition online.
Government founds group to promote Islamic finance
The government has announced the latest part of its plan to make Britain a leading Islamic finance centre, unveiling a new group to drive the growth of shariah-compliant financial products.
Post Magazine - 31 October 2013
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Highlights from The Claims Event 2013
With the birth of the new regulator and major regulatory changes, The Claims Event 2013 was a key conference for claims professionals to attend this year to learn about the latest industry developments.
Insurance Europe calls for amendments to IASB accounting rules
Insurance Europe has welcomed revised proposals from the International Accounting Standards Board to account for insurance contracts but has asked for further amendments to achieve "a workable accounting standard".
Insurance Europe urges IASB to amend draft accounting standard
Insurance Europe has welcomed the revised proposals by the International Accounting Standards Board to account for insurance contracts (IFRS 4 Phase II) but has asked for further amendments to the current proposals to achieve a workable accounting…
APPG chair Evans praises SRA on referal fee fight
The Solicitors Regulation Authority has been acclaimed by Jonathan Evans MP, chair of the all party parliamentary group on insurance and financial services, for taking action against firms flouting the referral fees ban.
ABI to merge GI and pensions under Huw Evans after Starling role axed
The Association of British Insurers has revealed its restructure will deliver 7% cost savings for its members.
Post Magazine - 24 October 2013
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Industry warns over reputational risk of FCA’s ‘name and shame’ policy
Regulator’s new plans could see individuals under investigation outed publicly.
Expertise in Action: Broker: Preferential treatment
Few clients are interested in commission disclosure, however, the issue of preferential treatment for brokers that produce the most business for insurers could soon face regulatory scrutiny.
SRA issues referral fee ban compliance warning
The Solicitors Regulation Authority has warned personal injury firms some of the models adopted to circumvent the referral fee ban “potentially breach” parts of the code of conduct.
Brokers warn insurers not to rush into private security firm cover
Concerns raised over claims frequency of problem doormen supervisor sector.
Post Magazine – 17 October 2013
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