European Union (EU)
International: Lost in the long grass
Will the final form of Solvency II – designed to harmonise capital adequacy across the continent – look anything like it was initially intended? And when, if ever, will it emerge?
Q&A with Michael Ashton
Six months after joining the Gibraltar government as senior executive for insurance, Michael Ashton speaks to Insurance Insight about the main attractions of the British overseas territory, growth potential and the stigma of insurer collapses.
Eiopa advises policymakers to scrap counter-cyclical premium in LGT report
The European Insurance and Occupational Pensions Authority has published the findings of the Long-Term Guarantee Assessment it conducted as part of political discussions on finalisation of the Omnibus II Directive.
Collective redress rules are a "let down for consumers" says BEUC
The European Commission’s guidelines on collective redress mechanisms in European member states do not go far enough, according to The European Consumer Organisation BEUC.
CII welcomes Eiopa's focus on professional standards
The Chartered Insurance Institute has welcomed increased focus on general insurance professional standards within the European Union level.
Regulators increasingly penalising cybercrime victims, says Ace
Corporate victims of cyber-crime are increasingly coming under government scrutiny, according to Iain Ainslie, cyber liability underwriter at Ace Group.
Financial transaction tax will have ‘significant implications’ for insurers
EU tax’s implementation date and final form unclear amid legal challenges
Editor's comment: Hit in the pocket home and away
Last week I described fraudsters as the long-standing foe insurers are unable to rid themselves of, and this week, true to form, they struck both home and away in the place it hurts insurers most – their pockets.
Blog: Insurance spawns Germany's longest word
In a week of exciting news the best was saved for today when the longest word in the German dictionary – Kraftfahrzeughaftpflichtversicherung - was confirmed to be insurance-related.
EHIC rejection could hit travel premiums warns Columbus Direct
The use of travel insurance as a substitute for the European Health Insurance Card is starting to affect travel insurance premiums for European countries including Spain, Greece and Cyprus, according to travel insurer Columbus Direct.
Solvency II deal is "on the table" says MEP
The European Union is close to reaching a consensus on the oft delayed Solvency II regulations, according to a member of the European Parliament.
Moody’s: Solvency II volatility may deter investors
Potential investors in the insurance industry may be turned off by expected volatility in European insurer’s solvency ratios according to rating agency Moody’s.
View from the Top: The slow pace of regulation
Only consistent and uniform implementation across the entire continent will bring benefits.
Passporting: Border control
Will the recent Balva scandal have any bearing on the future of European passporting rights. Francesca Nyman investigates.
Beazley brings breach response product to Italian market
Lloyd’s insurer Beazley's data breach response solution is now available to organisations in the Italy.
Regulatory uncertainty raises domicile questions
Splitting tax domiciles and regulators could be an enticing prospect for insurance groups looking to avoid the European Union’s Solvency II regulations.
Top 5 European news stories
The top five stories from www.insuranceinsight.com over the past seven days.
Solvency II “ground to a halt” by national interest PRA boss says
Disagreement over the final Solvency II rules at a national level has seen negotiations “ground to a halt” according to Prudential Regulatory Authority boss Andrew Bailey.
Insurance premium tax ruling bad for business and EU policy
A European court ruling on the way insurance premiums are taxed will burden insurers with increased costs and and undermine the EU's attempts to create a single market for insurance, according to law firm Pinsent Masons.
Food Standards Agency publishes final horsemeat results
The Food Standards Agency has published the results of its final tests for horsemeat in UK beef products before launching into a new quarterly test regime in June.
Insurance Europe welcomes EC paper on disaster insurance
Insurance Europe has welcomed the European Commission’s investigation into the availability of catastrophe insurance.
Insurers miss opportunity to voice opinions on EU consultation on PPOs
The UK’s general insurance sector has failed to engage with a consultation on setting Solvency II liability rules, despite a European Union recommendation that 20% of the sector should contribute for the study to be credible.
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.