Politics
Biba kicks off lobbying with Treasury meeting
British Insurance Brokers' Association chief executive Eric Galbraith has voiced his concerns over the latest wording of the Bribery Act 2010, warning the new government it must learn from its predecessor's handling of the insurance premium tax issue.
Editor's comment: M&A activity is steady, with some green shoots
This year has seen only a steady drip of merger and acquisition activity, rather than a flurry, something that was noted by Pricewaterhouse Coopers in its European Financial Services M&A Insight published yesterday.
Irish to sell VHI
The Irish government has revealed it is to sell state-owned medical insurer VHI after injecting capital into the firm.
Lib-Con targeted FSA to recruit 460 more staff
The Financial Services Authority has confirmed that its annual funding requirement for 2010/11 is £454.7m following a consultation.
New ABI chairman outlines challenges ahead
Tim Breedon, group chief executive of Legal & General has been nominated to become the next chairman of the Association of British Insurers.
Looking Back 10 years: Government to centralise insurance
The government wants to set up a single standard insurance package for MPs and their staff in a move to replace the existing antiquated system.
Legal update - Mandatory mediation: Working together
With Italy making mediation mandatory before a civil or commercial dispute can go to court, Michael Dawson looks at whether the UK will follow suit.
Biba to lobby coalition
The British Insurance Brokers' Association is set to launch a major lobbying campaign to promote the role of the broker to the Liberal-Conservative coalition government.
FSA in limbo as coalition puts Bank of England in charge
The coalition government has granted macro-prudential regulation of financial services to the Bank of England to rectify the "defective" tripartite system, according to the Treasury.
CEA welcomes EU/US Japan Post Insurance talks
The European insurance and reinsurance federation, CEA, has welcomed joint EU and US effort to address the Japanese government’s preferential treatment of Japan Post Insurance.
Apil “bitterly disappointed” at Queen’s Speech damages omission
The Association of Personal Injury Lawyers has expressed its disappointment at the coalition government’s decision to leave the draft Civil Law Reform Bill out of the Queen’s Speech.
Law firm warns government against hasty reform of financial institutions
Beachcroft has warned the government against trying to rush through financial reform "in pursuit of favourable headlines".
Queen backs independent fiscal agency
The Queen's speech 2010 has outlined addressing the budget deficit as the key issue for the coming year, with the formation of a new ‘Office for Budget Responsibility’ seen as a measure to address the UK’s £6bn deficit.
Deficit will be cut through ‘reduced spending not increased taxes’
In her speech to mark the state opening of Parliament, the Queen has said that “dealing with the deficit and continuing to ensure the economic recovery is the most urgent issue facing Britain”.
Government outlines Bank of England intentions
The coalition government has introduced a bill to increase the power of the Bank of England as part of the Queen’s Speech.
CCIR praises EU for blasting US reinsurance tax proposals
The Coalition for Competitive Insurance Rates (CCIR) has commended the European Union for "speaking out against a controversial tax proposal” on affiliated reinsurance included in President Obama's 2011 budget proposal.
No clarification for insurers as banking reform announced
The coalition government has confirmed it will reform the regulation of the banking system, but failed to mention regulation of insurers in its programme for government published today.
Ex-Aviva public affairs head urges Tory colleagues not to scrap IIWG
The former head of public affairs at Aviva and new Conservative MP Tracey Crouch, believes the Insurance Industry Working Group report should not simply be scrapped because of a change of government.
The claimant's view: A fairer, better Britain
We welcome the new government's commitment to a compassionate society, one that values fairness and responsibility and the pledge by David Cameron to look after the frail, the elderly and the poorest in society.
Uncharted waters lie ahead in a sea of change
As we enter the uncharted political waters of a coalition government, it is perhaps worth noting that the current uncertainty is really nothing more than the continuance of a process of change that has been going on for well over two years, to which some…
Confusion over FSA prompts calls for government rethink
The insurance industry has called on the government to review its regulatory proposals, after plans to scrap the Financial Services Authority were thrown into confusion.
Broker turned MP slams former Labour regime as a "nightmare"
Former insurance broker and new Conservative MP Andrew Stephenson has described being an intermediary under the Labour government as a "nightmare".
BIBA 2010: Galbraith calls on government to introduce the "right legislation"
The British Insurance Brokers’ Association is set to launch a major lobbying campaign to promote the role of the broker to the Liberal-Conservative coalition government.
Cable creates Business Advisory Group
Business secretary Vince Cable has created a group of experts top help advise the government on business and economic policy.