European Union (EU)
"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.
Pan-European insurance contract law a 'logistical minefield'
The principles behind a pan-European insurance contract law are sound, but any attempt to implement such a framework would be a logistical minefield, according to industry insiders.
Top five European news stories
The top five stories from www.insuranceinsight.com over the past seven days.
Impact study likely to cause further SII delay
The implementation of Solvency II faces further delay due to the launch a long-term guarantees assessment impact study by the European Insurance and Occupational Pensions Authority, KPMG has warned.
P&C insurers better placed than life firms to weather economic storm
Property and casualty insurers are better positioned to withstand a slow growth environment compared to life insurers, which will be more impacted by the weak global economy given they are mainly "discretionary" purchases and the low interest rates,…
Eiopa launches LTGA consultation
The European Insurance and Occupational Pensions Authority launched today a technical assessment of the long-term guarantee package agreed by the European Parliament, the Council of the EU and the European Commission in the context of the Omnibus II…
Biba welcomes Cameron referendum promise
The British Insurance Brokers' Association has backed a guarantee from Prime Minister David Cameron to hold an 'in/out' referendum on the European Union by the end of 2017.
EC probes impact of insurance contract law on cross-border trade
The European Commission has launched an expert group to consider the creation of a pan-European insurance contract law.
Software firm launches Solvency II tool for Lloyd's market
Insurance investment information specialist Camradata has introduced Solvency II-compliant software to its Lloyd's clients for reporting and accounting.
European Parliament clamps down on rating agencies
Rating agencies are to have their shareholdings in rated firms capped to reduce conflict of interest under new rules approved by the European Parliament.
"March madness" awaits EU motor insurers
Insurers that fail to embrace telematics in the wake of gender neutral pricing rules will see massive volumes go to more "switched-on" peers, according to Coverbox.
Data protection rules must accommodate insurers says Insurance Europe
The European Commission's proposed new data regulation could have unintended negative consequences for insurers and consumers, Insurance Europe has warned.
Drive-by attacks top cyber threat list
Drive-by exploits are the top threat facing web users today, according to the European Union's cyber security agency ENISA.
Eurozone insurers' assets reached €5,896bn in Q3
The total financial assets of euro area insurance corporations and pension funds increased to €7,500bn in the third quarter of 2012, up from €7,296bn in the previous quarter, statistics published by the European Central Bank showed.
Top five European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days.
Lithuanian insurance market to grow at least 6% in 2013
Lithuanian insurers can expect the non-life sector to grow by up to 7% this year owing to the increased spending power of its citizens, RSA said today.
Insurance Europe welcomes dialogue between EU and US on regulation
Trade body Insurance Europe has praised the dialogue between EU and US policymakers on insurance regulatory issues.
Moody's launches Solvency II compliance tool
Risk measurement and management firm Moody's Analytics has added a Solvency II compliance tool to its enterprise risk solutions suite.