Top five Asian news stories
The top five Asian news stories on www.insuranceinsight.com over the past seven days.
Aspen Re enhances risk management in China
Aspen Reinsurance has licensed Air Worldwide's multiple peril crop insurance model for China to enhance its risk management capabilities in catastrophe
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More on Regulation
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Consumer trust in insurance providers has risen for the third consecutive wave, according to Fairer Finance.
FCA outlines next steps with delegated authority deep dive
The Financial Conduct Authority is preparing to take a closer look at delegated authority arrangements, with an information request being sent out to get a clearer picture of how outsourcing is being used across the insurance market.
FCA vows to keep pressure on premium finance APRs
The Financial Conduct Authority has said it will “continue to put pressure” on companies offering premium finance in a bid to continue lowering annual percentage rates after revealing the impact its enforcement action has had so far.
Lady Mayor warns culture is outpacing regulation
Lady Mayor of the City of London Dame Susan Langley has said firms are over-interpreting the watchdog's rules, and that leaders must be braver as uncertainty grows
FCA’s Knight insists CPD changes are not a relaxation
The Financial Conduct Authority’s decision to ditch its 15-hour-per-year continuing professional development requirement for insurers should not be viewed as a relaxation of standards, according to the regulator’s director of insurance, Chris Knight.
Why culture, not just regulation, drives good customer outcomes
View from the top: Andrew Otter, head of regulatory engagement at Markerstudy, argues that a healthy culture and strong governance, not just regulation itself, are what ultimately drive good customer outcomes.
Contents insurance flagged for causing ‘greatest consumer harm’
The Treasury Committee has warned that contents insurance is among the areas where financial exclusion can cause the “greatest consumer harm”, with urgent action needed to protect customers.
Insurance Compliance’s Allison questions insurance regulation
David Allison, head of intermediary consultancy south at Insurance Compliance, said improving customer understanding is an unsolvable problem, and questioned whether general insurance should ever have been regulated by the Financial Conduct Authority.