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Back to basics

With public consultation on Solvency II expected next summer, Stephen Lucas and Rob Green discuss how insurers can use the lessons learnt from Basel II to prepare for the new regime

Hot on the heels of Basel II, the new risk-based approach for regulatory capital in the banking sector, comes Solvency II, perceived by many as an equivalent regulatory framework for insurers.

There

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Storm damage claims test insurers’ settlement choices

A year of severe storms has strained repair networks and claims operations, which Ben Blain, head of property at Verisk Claims, points out has placed insurers’ settlement decisions, data oversight and ability to evidence fair customer outcomes firmly under the regulatory spotlight.

How should success of FCA’s response to Which be judged?

The effectiveness of the Financial Conduct Authority’s regulatory action in response to Which’s super-complaint about home and travel insurance is reflected in smoother claims handling, not in the number of reviews or fines, according to Claire Massey, founder of Claim Guardians.

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