Post Magazine - 24 October 2013

In this week's edition, industry trade bodies have raised concerns the Financial Conduct Authority's powers to name those under investigation ahead of any sanction decision could lead to innocent firms and individuals suffering unwarranted reputational damage.

The FCA last week released the outcome of its March consultation, entitled Publishing information about enforcement warning notices, which included the introduction of new powers meaning companies and, in certain circumstances, individuals can be named by the regulator when they are subject to investigation proceedings. Previously, the regulator could only publish information about enforcement proceedings once it had decided to take action.

In other news market insiders have warned that proposals to extend nuclear liability provisions across Europe will result in significant premium rises; a combination of niche focus and UK withdrawals has been credited with helping Gibraltarian motor insurers outperform their peers in the UK; and a year on from Superstorm Sandy, brokers have confirmed the US is now far more prepared for hurricane events despite the 2013 hurricane season appearing benign to date.

Steve Kingshott explains that while insurers can have a positive influence on the renewable energy debate, investment is needed in the C-Suite.

The issue of legacy platforms and when to replace them has been debated by insurers since time immemorial, with the threat of losing out on business because or outmoded infrastructure a constant concern. In association with software provider Xuber, Post gathered the industry specialists at the heart of this debate to get their take on the legacy conundrum. Find out what happened at the roundtable.

In an Expertise in Action focus, Edmund Tirbutt looks at the potential of preferential treatment for brokers that produce the most business for insurers soon being subject to regulatory scrutiny; while Zurich's Stephen McKenna explains why a tailor-made risk management proposition provides the best result for clients, brokers and insurers alike.

A feature on private investigators looks at how the wider industry will be impacted by the Information Commissioner's Office investigation into three insurers for their use of rogue private eyes; and with several ideas suggested to alleviate insurers' whiplash woes - Edward Murray looks at which method represents the best solution for all parties.

Plus, don't miss the chance to win tickets for England vs Argentina at Twickenham in association with QBE.

Stephanie Denton
Editor, Post