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ABI heralds sewer announcement

The Association of British Insurers today said the announcement by the water regulator, Ofwat, on water bills should lead to a significant reduction in the risk of sewer flooding.

Ofwat has approved plans by water companies to spend almost £1bn on sewer improvements, which will resolve the problem for over 9000 of the highest-risk homes – 90% of proposals put forward by water

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FCA and PRA turn spotlight on MGA oversight

The Financial Conduct Authority and Prudential Regulation Authority are sharpening their scrutiny of managing general agents, stressing insurers must take primary responsibility for businesses underwriting on their behalf.

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