Regulation
Irwin Mitchell to pick up PI books from struggling law firms
Irwin Mitchell is preparing to acquire the personal injury books of law firms exiting the market as a result of the recent legal reforms, Post’s sister publication Legal Week reported.
Indian regulator signs global information exchange agreement
The International Association of Insurance Supervisors has added India to a regulatory information exchanging agreement which now spans 37 countries and 54% of premium volume.
Solvency II deal is "on the table" says MEP
The European Union is close to reaching a consensus on the oft delayed Solvency II regulations, according to a member of the European Parliament.
China outlines risk based regime
The China Insurance Regulatory Commission has provided an overall framework for China Risk-Oriented Solvency System bringing the market towards international standards.
India to change broking placement regulations
New proposals from the Insurance Regulatory and Development Authority wants to place greater caps on where brokers place their business with insurers.
Solvency II could increase cost of capital for insurers says Moody’s
The increased volatility of Solvency ratios under the new Solvency II guidelines may reduce investor appetite and increase the cost of capital for insurers, according to Moody’s
Post magazine – 23 May 2013
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Biba conference 2013: News round-up
This year’s British Insurance Brokers’ Association conference attracted more than 4750 brokers and 168 exhibitors to the Excel Centre in London’s Docklands.
Brokers selling add-ons contacted by FCA as regulator begins crackdown
Signs the Financial Conduct Authority’s scrutiny of insurance add-ons is underway have been witnessed by brokers that have already been contacted by the regulator.
Brokers told to improve record-keeping to reduce professional indemnity claims
Brokers have been urged to improve the way they document advice to clients in light of increasing numbers of professional indemnity claims against them.
Editor's comment: Time for a new strategy
Last week some new battle lines were drawn, while others pulled back their troops, took stock of the situation and dug new trenches.
Scots disproportionately affected by new flood plan
The Scottish Parliament has been challenged to secure a greater voice in the UK flood debate following concerns the Association of British Insurers' Flood Re model represents a raw deal for residents north of the border.
Solvency II still needed says S&P
The proposed Solvency II regulatory framework is still needed, despite the frustration caused by delays in implementation, according to Standard and Poor’s.
View from the Top: Complying with the spirit of the law
It is up to insurers to support government efforts to ensure personal injury claims are handled correctly, says John O'Roarke.
Mass calls on legal industry to fight legal changes
The Motor Accident Solicitors Society has called on solicitors to keep fighting further change and report any problems in the new legal system.
Apil: Seriously injured people risk being short-changed in government plans
Severely injured people could face having their damages cut further under government proposals, the Association of Personal Injury Lawyers has claimed.
The Scottish currency question
One of the key questions in Scotland’s independence debate at the moment is which currency Scotland would use in the event of a ‘yes’ vote on 18 September 2014.
Mass welcomes the government's ‘reasoned’ approach to whiplash
The Motor Accident Solicitors Society has welcomed the government’s decision to defer the publication of its response to the whiplash consultation until the Transport Select Committee whiplash inquiry finalises.
ABI pushes Flood Re proposal as SoP extended
The Statement of Principles has been extended by one extra month while discussions over the long term solution for flood risk cover between the insurance industry and government continue.
Biba 2013: ABI, Biba and CILA team up to engage with FCA claims review
The British Insurance Brokers’ Association (Biba), the Association of British Insurers (ABI), the Chartered Institute of Loss Adjusters (CILA), brokers and insurers have started a new claims working group which aims to proactively and positively engage…
Post Magazine - 16 May 2013
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Midwives professional indemnity: Communication breakdown with PI specialists leaves ball in coalition’s court
Government tasked to intervene as midwives’ insurance talks corrode
Quindell model calls for clarity after shares plummet
Speed and volume of deals have caused confusion
Tax Avoidance: Insurers warned over tax avoidance after WHA loses appeal in NIG VAT case
VAT not recoverable in offshore scheme involving NIG, Crystal and Viscount