European Union (EU)
Liberty picks Luxembourg for post-Brexit hub
Liberty Speciality Markets has selected Luxembourg for its post-Brexit headquarters.
This Week in Post: Outdated and out of there
I was recently lamenting shortage of space in my toy-cluttered flat and a (childless) colleague mentioned the baby cages Victorian households used to hang out of their windows. “There were mercifully few deaths,” he joked, as I gazed at an online image…
Blog: Trade credit insurers mustn't waste the Brexit opportunity
Trade credit insurers can prove their worth by helping their customers mitigate the risks associated with Brexit, writes Richard Reynolds, regional manager at Atradius.
Europe: Post-Brexit travel insurance
It is unclear whether UK nationals will be able to use the European Health Insurance Card after Brexit. If they don’t, travel insurers expect higher claims costs and higher premiums.
IBIS 2017: Softer Brexit becomes more likely following election
After Prime Minister Theresa lost her overall majority in the general election last week, a softer Brexit is more likely, said Thomas Lake, senior analyst, political risk at BMI Research.
EU gets go ahead to sign covered agreement with US
The European Council has approved the signing of the covered agreement with the United States that would harmonise insurance and reinsurance regulation on both sides of the Atlantic.
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.
EU regulators to receive Brexit guidance from Brussels
European Union member states are set to receive guidance from Brussels to ensure national regulators do not undercut each other while trying to attract firms from the UK.
Running off captives in Luxembourg: How to recover the equalisation reserve
A treasure awaits those holding the keys for unlocking Luxembourg’s main assets within the insurance industry. According to the regulator’s latest annual report, reinsurers have built up €9.3bn (£7.8bn) in equalisation reserves in the country.
Zurich’s Guy Miller on why recovery is an opportunity for reform
A synchronised global recovery is an opportunity for reform, not for complacency, argues Guy Miller, chief market strategist and head of macroeconomics, Zurich.
Finishing line in sight for the IPID
Although many who voted for Brexit may have hoped otherwise, leaving the European Union will not enable the UK insurance community to turn a blind eye to the insurance regulations dreamed up by those famously unelected bureaucrats in Brussels. Although…
Europe: Insuring robots (and against robots)
Robots are becoming ubiquitous. Do we need specific insurance? And do they?
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: Whiplash, discount rate, Vnuk and driverless cars on the road ahead
The Association of British Insurers’ announcement that motor insurance premiums hit their highest recorded levels at the end of last year is another reminder that change is long overdue in the personal motor market. That’s coming but will it be enough?
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…
Making Winners work: African farm insurance
The Winners Project aims to provide a long-term-solution to the threat of extreme weather for farmers in Africa
This Week in Post: BST, the baby and Brexit
British Summer Time is now allowing us to enjoy more daylight as all our clocks moved forward an hour last weekend. Except, that is, for my 15-month-old daughter’s biological clock. For her bedtime this week, she’s decided to do her own thing. Pretty…
Lloyd’s confirms Brussels as post-Brexit destination
Lloyd’s has confirmed it will be setting up a new European business in Brussels following the government’s decision to invoke Article 50.
Cyber regulation: Cyber’s new rules
The tightening of data regulation next year could drive demand for cyber cover and, with the reporting of breaches becoming compulsory, it may help underwriters price this new risk ever more accurately
Blog: The three pillars of cyber cover
Recent reports that copies of footballer David Beckham's personal emails had been stolen from his publicist illustrate the speed information can spread once personal or sensitive information is placed in the public domain.
Uninsured driving - the European way
A recent European ruling that means insured motorists will pay repairs for uninsured drivers has caused outrage in the industry. What is the extent of uninsured driving in Europe, how do national differences compare and which policies work?
Charles Manchester on brokers using unrated insurers
Brokers are regulated by the Financial Conduct Authority, so they don't really come into contact with the Prudential Regulation Authority, which is primarily concerned with the soundness of insurers, ensuring protection for policyholders.
Biba confirms active role in IDD consultation
The British Insurance Brokers’ Association said it will play an active role in the consultation over the UK implementation of the insurance distribution directive.
Solvency II safeguards mean no need for EU rule change
The safeguards provided by Solvency II mean that a new EU framework on recovery and resolution for insurers is not required, according to Insurance Europe.