Compliance
Blog: Barriers to disruption and how to hurdle them
Legacy systems and industry culture are preventing incumbents insurers from innovating, writes Jane Disney, financial services industry value engineer at SAP, urging the sector to rethink itself as support services.
Profile: Oscar Treceno, IMIA
For six years, Oscar Treceno has juggled his day job as head of the engineering and energy department at Helvetia with the role of chairman of the International Association of Engineering Insurers. Post asked him about IMIA's role in today's market.
Legal Column: Grenfell and the burning urgency for better regulations
Fire regulations are coming under scrutiny after the Grenfell disaster, says Vikki Watt, health & safety partner at BTO.
Analysis: Aviation insurers prove adaptable
Insurers are adapting to aviation's latest trends, despite low premiums.
Towergate to roll out food safety compliance tech
Towergate Insurance has partnered up with technology provider, Checkit, in order to reduce business premiums and the risk of liability for food companies.
GDPR consultation fails to address 'key concerns' of industry
The insurance industry has critcised the government statement of intent on the new data protection bill saying it fails to address concerns on processing sensitive data without obtaining explicit consent.
Analysis: The age of consent
Insurers will need to get the consent from their policyholders to collect their personal data, under regulation coming into force next year
Analysis: Why cruise lines may find captives attractive
A captive insurance vehicle can be an attractive option for a cruise line, and Bermuda is a premier ‘home port’ for such vehicles.
Life is a breach: What the GDPR changes for insurers
Insurers will face stricter data rules but these may help them grow the cyber market, write Mark Estafanous and Kate Payne, solicitor and partner at Elborne Mitchell.
In Depth: The GDPR time bomb
The implementation date of the General Data Protection Regulation is less than a year off but the industry’s attention is elsewhere, with issues like Brexit, the General Election and the discount rate looming large on the horizon
Majority of UK businesses 'will not be compliant' in time for GDPR
Less than a third of businesses have started preparing for the General Data Protection Act despite the deadline being less than a year away.
Brokers: The unbearable weight of regulation
Brokers are becoming increasingly frustrated with the Financial Conduct Authority, citing rising compliance costs and an overbearing regulatory regime as hurdles to growth and innovation
Blog: Don't be phased by the IDD
Insurance companies and intermediaries responsible for selling insurance and reinsurance products should not be phased by the prospect of tightening rules to guard against mis-selling, following the publication of the first of two consultation papers…
What US sanctions may look like under the Trump administration
There is quite a bit of uncertainty regarding the direction of US sanctions policy under president Donald Trump's administration. Various forces drive in different directions.
Spotlight: Claims Assistance: Ignore at your peril
Dissatisfaction over clarity during the claims process has been highlighted by the recent Financial Conduct Authority review. What can the industry do to make the system work better?
Expertise from A-Z: 2016 Review: A year of change
A look at the tumultuous changes of 2016 – and a preview of what 2017 may have in store for the industry
Pre-action protocol becomes compulsory in Scotland
Those of us who represent defenders in personal injury litigation in Scotland have long bemoaned the lack of a compulsory pre-action protocol. The voluntary pre-action protocol came into force in Scotland on 1 January 2006, but the title gives the game…
Brokers seek help to monitor ARs in wake of FCA review
Compliance consultants have seen a three-fold increase in the number of brokers contacting them since the Financial Conduct Authority Thematic Review into appointed representatives.
NEDs: With great power comes great responsibility
There was a time, or so the old insurance hands say, when being a non-executive director was something of a cushy number: The sum total expected of a NED was to turn up for 12 board meetings a year, read the odd report, and play a few rounds of golf with…
Finch appoints Co-op’s Kieran McGeehan as compliance and operations head
Finch Insurance Brokers has hired Kieran McGeehan along with two other senior appointments as part of a move of “investing into the business”, Post can reveal.
Insurance Compliance Careers: The land of opportunity?
With so many rules and regulations within insurance, it is no surprise that jobs in this sector are plentiful. But are compliance staff enablers or blockers and how attractive is it as a career?
Concern expressed as 'rigorous' SIMR adds pressure on senior roles
Insurers have welcomed the launch of the Senior Insurance Managers Regime, however, there remains uncertainty as to what extent top ranking employees will be impacted.
Senior insurance managers' regime rules open to interpretation
The application of the senior insurance managers' regime has been deemed open to interpretation by market commentators, amid predictions brokers could be subject to a similar, more informal, regime in the future.
PI nuisance calls and texts among top complaints received by ICO
The Information Commissioner’s Office saw a 12% increase in complaints regarding nuisance calls and texts in 2014, the data protection watchdog’s annual report showed.