Regulation
Treasury opens Contracts Bill acceleration debate
The Treasury has launched a new consultation on the Insurance Contracts Bill to decide if it has sufficient support for accelerated passage into law.
Insurance contract complaints plummet but FS top spot retained
Consumer complaints on unfair insurance contracts have dropped by almost 75% for the year ending 31 March 2014, but the class still attracted more than any other class of financial services business for the fourth year in a row.
Add-ons: Under the microscope
The sale of additional products is under immense scrutiny by the Financial Conduct Authority. With the insurance industry pushing resources into self-policing since the motor legal expenses inquiry, has it done enough?
C-Suite - MGA: Managing conflicts of interest
Perfect separation is impossible in the current regulatory environment, so what can be done?
Most SMEs unknowingly underinsured, Axa report shows
The majority of the UK’s 4.9 million SMEs are underinsured and half a million may be breaking the law by operating with inadequate cover, according to a report by Axa.
Eiopa consults on Solvency II guidelines
The European Insurance and Occupational Pensions Authority is seeking responses to a consultation on the first set of guidelines for Solvency II legislation.
Competition watchdog calls for credit hire cap and 'wide' MFN ban
The Competition and Markets Authority has today revealed proposed changes for the UK’s private motor insurance market in a bid to increase competition and reduce costs for drivers.
Airmic: Conference Speakers: Mike Hammond, Mark Well, Mike McGavick and Philipe Rocard
This year’s Airmic conference, held in Birmingham from 16 to 18 June, will see a record number of attendees descend on the UK’s second city. We caught up with some of the speakers to find out a bit more about them, what they thought this year’s talking…
HKFI concerned over IIA's tribunal appeals' costs
The Hong Kong Federation of Insurers is concerned over the attribution of costs concerning appeals from the Independent Insurance Authority.
Industry gets behind FCA call to push conduct up board agendas
Regulator’s CEO asks firms to detect conduct issues earlier
FCA sharpens focus on wholesale market
Financial Conduct Authority chief executive Martin Wheatley today emphasised the regulator's shift in focus to the commercial insurance market.
PRA releases supervisory statements aimed at insurers
The Prudential Regulation Authority today issued two supervisory statements aimed at insurers as the Bank of England continues its focus on activity in the industry.
Saga floats on main market of LSE
Shares in over-50s insurance specialist Saga were today admitted to trading on the London Stock Exchange.
Fines predicted in conflict of interest review fall-out
Industry fines following the Financial Conduct Authority review of brokers' conflicts of interests are likely to be handed out in a matter of months, accounting firm Moore Stephens predicts.
Gibraltar recruits former FSA insurance director for Solvency II project
Gibraltar’s Financial Services Commission has swooped for a former UK insurance regulator to lead its Solvency II implementation project.
C-Suite: Hong Kong's insurance authority
Laywer Kevin Bowers gives an overview of the proposed make up of the Independent Insurance Authority in Hong Kong, expected to be introduced in 2015.
FCA finds brokers not properly managing conflicts
The Financial Conduct Authority has found conflicts within brokers are not being properly managed particularly around add-on insurance and premium finance.
Singapore targets 2017 for RBC 2
The Monetary Authority of Singapore has set out a timetable for the improvement of its risk-based capital model for insurers.
BoE’s Carney fires insurance execs accountability warning
Bank of England governor Mark Carney has warned that the watchdog is building rules to hold insurance executives to account in the case of failures.
Trade Voice: Bringing the law up to date
As the British Insurance Law Association celebrates its 50th anniversary, the Law Commissions of England and Wales and of Scotland conclude the second part of their project to reform insurance law.
Acquisition appeal in China warms up
Regulatory changes in China look set to make it easier for local and foreign players to expand in the world’s fourth-largest insurance market.
Editor's comment: One year on, what’s changed?
Twelve months ago at the 2013 British Insurance Brokers’ Association conference, Financial Conduct Authority chief executive Martin Wheatley used his keynote speech to tell the market the regulator would be taking “early and decisive action” against…
White questions FCA decision-making speed after Treasury launches review
Industry figures critical of regulator’s early naming and shaming policy
Hong Kong Independent Insurance Authority moves a step closer
The passage of the Insurance Companies (Amendment) Bill 2014 into Legco has brought an independent regulator a step closer in Hong Kong.