Regulation
Proposed 7.1% increase to insurers' contribution to FCA budget will add to firms' 'financial burden' in difficult times
The Financial Conduct Authority is consulting on changes to its fees and levies which would see annual contributions by general insurers and general insurance brokers increase 7.1% and 3% respectively.
Insurance Covid Cast – episode one: How has the industry’s reputation been impacted by its handling of the coronavirus epidemic
In the first of a new series of video casts brought to you by Insurance Age and Insurance Post whilst our journalists are in isolation lockdown we discuss the sector’s response to the Covid-19 pandemic and what lasting impact it might have on its…
Blog: The UK's CBD market - challenges and opportunities for insurers
The Food Standards Agency recently issued a warning to companies involved in the manufacture and sale of cannabidiol products that goods could be taken off the shelves if those in the industry failed to give more information about the safety and contents…
Whatever else, government must mandate e-scooter insurance, says panel
The government should require e-scooter riders to buy insurance, according to a panel of experts speaking as part of Post’s Motor Insurance World Live on Wednesday.
Bank of England’s warning: Which insurers have put pay to dividends?
A flurry of insurers have pushed pause on dividend payouts following Bank of England and European Union warnings on being prudent in the face of the coronavirus crisis.
Retroactive coronavirus pay outs would ‘seriously threaten the stability’ of global insurance industry
Global insurers have warned governments that if they impose retroactive pay outs for Covid-19 this will make it difficult if not impossible for insurers to respond to the crisis and other insured events.
EU regulator urges insurers to scrap dividends and share buy backs due to Covid-19
Insurers should suspend discretionary dividends and shareholder bonus payouts until the impact of the coronavirus pandemic becomes clearer, the European Union insurance regulator has warned.
Providers respond as FCA changes premium finance landscape
The Financial Conduct Authority has proposed a range of stop-gap measures to help consumer credit customers manage the financial hit from the coronavirus pandemic.
Barclays' doctor assault victims denied compensation as court clarifies liability for 'independent contractor'
The Supreme Court ruled on Wednesday that Barclays Bank is not liable for the alleged sexual assault of more than 100 patients by a doctor carrying out medicals on the bank’s behalf.
Insurers plead with government to make early call on further whiplash reform delay in light of Covid-19
The whiplash reforms implementation date should be delayed and a realistic timescale put in light of the Covid-19 epidemic.
Morrisons data leak judgment of ‘limited comfort’ to businesses and their insurers
Insurance lawyers have responded to today’s Supreme Court ruling which found supermarket Morrisons is not ‘vicariously liable’ for a large-scale data leak by a disgruntled employee, saying it might be a relief for corporates but that it doesn’t signal…
Analysis: US insurers face 'thin end of the wedge' on mandated coronavirus BI cover
Lawyers remain confident the UK government won’t follow the US in mandating payouts for Covid-19 on business interruption policies after four US states tabled legislation that would require disruption caused by the coronavirus pandemic to be covered.
PRA warns insurers on shareholder payouts and remuneration
The Prudential Regulation Authority has warned insurers to “pay close attention” to protecting policyholders and supporting the economy when considering how profits are dished out.
Your 'business as usual' March digest
We understand that while it’s important to keep bringing you up to date and important news on the Covid-19 pandemic and its impact on the industry, it’s also critical, especially while homeworking, to know what's happening outside of this. With that in…
Blog: Insurers take coronavirus BI rap for now, but will banks emerge as the real villains of the piece?
With business interruption payouts (or lack thereof) in the spotlight, news editor Jen Frost asks whether the banks are about to take over from insurers as public enemy number one.
CII boss Sian Fisher on reacting to the coronavirus crisis
There have been three occasions when Sian Fisher, CEO of the Chartered Insurance Institute, went to the office and thought “things will never be the same again”.
Tribunal dismissed Eldon and Leave EU bias and unfairness claims despite ICO handling errors
While it acknowledged issues with the Information Commissioner's Office's handling of Eldon and Leave EU fines and audit notices, a tribunal has found its actions did not amount to bias, procedural unfairness or unlawfulness.
Q&A: Andrew Yeoman, Concirrus
Harry Curtis spoke to Andrew Yeoman, CEO and co-founder of Concirrus, about the increasing use of big data in insurance and the challenges facing the fleet and marine markets.
Treasury Committee questions ABI on coronavirus response
Treasury Committee chair Mel Stride has asked Association of British Insurers director general, Huw Evans, to address queries on the insurance response to the coronavirus pandemic.
Gefion ordered to stop writing business by Danish regulator
Gefion Insurance has said it will appeal after the Danish Financial Supervisory Authority rejected its recovery plan and ordered the company to stop writing business.
Government suspends gender pay gap reporting
The Government Equalities Office and the Equality and Human Rights Commission have suspended the gender pay gap reporting deadlines for 2019/20 due to the coronavirus outbreak.
Insurance prelim results delayed in line with FCA market request
The AA and Sabre Insurance Group have both delayed the publication of their preliminary financial results after a request from the Financial Conduct Authority to all UK listed companies last week.
Trade bodies back FCA's insurance key workers stance
The Association of British Insurers and the British Insurance Brokers’ Association have both welcomed the steps outlined by the Financial Conduct Authority to help identify key workers in financial services.
Covid-19: FCA asks listed firms to delay publishing prelim results
The Financial Conduct Authority has written to stock exchange traded companies that it knows are intending to publish preliminary financial statements in the next few days asking them to delay for at least two weeks due to the coronavirus crisis.