Bank of England consults on climate change stress tests
The Bank of England is consulting on proposals for its 2021 Biennial Exploratory Scenario exercises, which will test the resilience of banks and insurers to various climate scenarios.
The BES is also expected to test the financial system’s exposure more broadly to climate related risk.
Climate related risks are expected to emerge over coming decades, but the bank stated that
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Regulation
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.
Time:To – Axa’s Crane on how to meet regulatory requirements
How artificial intelligence can be used to satisfy the Financial Conduct Authority is outlined by Mike Crane, managing director of Axa Commercial, in the latest Insurance Post Time:To video.
Big Interview: Chris Knight, Financial Conduct Authority
The Financial Conduct Authority’s new director of insurance, Chris Knight, speaks exclusively to Insurance Post about premium finance, why enforcement action against firms that fail to comply with the Consumer Duty is looming plus whether the watchdog could soon scrutinise ChatGPT.
Why insurers belong in the room before infrastructure is built
Trade Voice: Agata Gorecka, general insurance policy adviser at the Association of British Insurers, argues insurers should be brought into national infrastructure planning from the outset.
FCA set to simplify fair value measure data reporting
The Financial Conduct Authority has proposed plans to reduce the reporting burden on firms surrounding the fair value measures data.
Staff will reject ‘Ask Jeeves’ AI tools if options are limited
Ed Jackson, chief commercial officer at MGA HomeProtect has urged firms not to give staff “the Ask Jeeves equivalent of artificial intelligence” and establish some key principles in how to use the technology from the outset.
FCA weighs AI challenge as ChatGPT reshapes insurance distribution
The Financial Conduct Authority is considering a review of whether its regulatory perimeter needs to expand as growing numbers of consumers turn to artificial intelligence tools such as ChatGPT for help choosing an insurance policy.
City minister urges insurers to tackle economic abuse
City minister Lucy Rigby has called on insurers to step up efforts to identify and tackle economic abuse, urging firms to embed safeguards into product design and customer services.