European Union (EU)
EU-US dialogue project agrees five-year plan
The Steering Committee of the EU-U.S. Insurance Dialogue Project has agreed on a high level work plan from 2013 to 2017.
April Fool's: Pet-gender to have no bearing on insurance premiums
Fear not animal lovers, the gender of your beloved pooches and kittys will not impact the cost of their insurance.
Leader: Once, twice, third time’s a charm?
The idea of regulation is not new for the insurance industry. In November 1998, a government statement concluded that statutory regulation was not suitable for the general insurance market.
Eiopa chairman defends Solvency II guidelines
The chairman of the European Insurance and Occupational Pensions authority has defended its draft Solvency II guidelines as “an important step in the right direction that will help national authorities”.
Early implementation of SII elements 'burdensome' for UK firms
The European Insurance and Occupational Pensions Authority has published four consultation papers containing guidelines on the elements of Solvency II that it wants national supervisors implemented by national supervisors from 1 January 2014 on a "comply…
Regulation must not harm long-term investment says Insurance Europe
Insurance Europe has welcomed the European Commission’s adoption of a Green Paper on the long-term financing of the European economy.
RBS dismisses links between stock sale and timing of upcoming Esure float
The second tranche of Direct Line Group shares may have been rushed to market in order to get ahead of the float by Esure, according to analysts.
Austrian lawyer annointed as Van Hulle successor
The European Commission has appointed Klaus Wiedner to replace Karel Van Hulle as head of unit dealing with pensions and insurance in the Internal Market Directorate General.
Regulatory convergence not necessarily 'better' for insurance industry
Attempts to harmonise global insurance regulations are “more aspirational than realistic”, according to DLA Piper’s Bill Marcoux.
Improving Underwriting: Driving Profits
Can a more sophisticated approach to underwriting help motor insurers finally turn a profit?
Indian refiners to halt Iranian oil imports
India’s oil refiners may cease crude imports from Iran next month as a result of their inability to access cover due to Western sanctions, the head of its largest refiner has said.
International: Are you protected?
A pan-European data protection regulation may enhance transparency and accountability, but could inadvertently hamper insurance activities, harming companies and policyholders.
Analysts cast doubt on Co-op’s ability to sell off general insurance business
The Co-operative Bank may struggle to offload its general insurance business as part of a bid to make up a capital shortfall that is expected to result from a market-wide investigation of banks by the Financial Services Authority.
Insurer Arrow visits up 38% in 2012
Intensive regulatory inspections of insurers increased 38% last year according to figures from law firm Reynolds Porter Chamberlain.
Data Protection: Regulation frustration
A pan-European data protection regulation may enhance transparency and accountability, but could inadvertently hamper insurance activities, harming companies and policyholders.
View from the Top: Better together
Co-operation in the pursuit of common goals will make us all stronger, says Nicolas Aubert, managing director, AIG UK.
Insurance Europe slams financial transaction tax
The draft directive for a financial transaction tax in eleven EU states will have a negative effect on insurers, their customers and the EU economy, according to trade body Insurance Europe.
Coface restructure brings European branches under control of French regulator
French credit insurer Coface said today it had simplified and streamlined its European credit insurance activities in preparation for incoming Solvency II regulations.
"On request" system better for GI says Bernardino
A shift towards mandatory commission disclosure for Europe’s general insurance intermediaries is unnecessary, according to the head of the European Insurance and Occupational Pensions Authority.
Editor's comment: Bowing out from Brussels
Complaining about the influence of the European Union on British affairs is almost as much a talking point as the weather in the UK, but insurers have fair grounds. Since Solvency II was first proposed, many in the UK insurance industry believe the…
UK regulator committed to risk-based regulation regardless of EU status
Plans to implement Solvency II will not be derailed by the Prime Minister’s pledge to hold a referendum on European Union membership if he is re-elected at the next general election.
Challenges and opportunities abound in 2013
Against the backdrop of a challenging economic climate and continued uncertainty over both the timescales for implementation of European regulation and varied national approaches to the adoption of it, European insurers face a number of critical…
EMEA commercial market to remain stable in 2013
The insurance market across Europe, the Middle East and Africa is expected to remain broadly stable in 2013, according to Marsh's Insurance Market Report 2013.