Regulation
Guernsey regulator recruits Central Bank of Ireland risk boss
Guernsey’s financial services regulator has swooped for its new director general, recruiting the Central Bank of Ireland’s head of risk.
Insurers set to benefit from Scottish PI courts
The introduction of specialised personal injury courts in Scotland will benefit insurers, according to Bill Speirs from BTO solicitors.
Post magazine – 7 March 2013
In this week's Post, analysts have cast doubt on the Co-Operative Bank’s ability to offload its general insurance business. Sources have suggested any plans to sell its general insurance business could be challenging after a Financial Times report…
International: Are you protected?
A pan-European data protection regulation may enhance transparency and accountability, but could inadvertently hamper insurance activities, harming companies and policyholders.
Slovenian watchdog suspends voting rights in Zavarovalnica Triglav
Slovenia's Securities Market Agency yesterday suspended the voting rights of several state-owned shareholders in insurer Zavarovalnica Triglav, until they launch a takeover bid or divest their shares.
Garwyn issues key considerations ahead of the EL/PL protocol
Specialist liability adjuster Garwyn Group has issued a guidance list of key considerations for insurers, brokers, self-insured business and public bodies as they prepare for the launch of the PL/EL RTA protocol and portal.
Laspo to leave law firms at risk of negligence claims
The Legal Aid, Sentencing and Punishment of Offenders Act, due to take effect on 1 April 2013, will leave law firms at risk of professional negligence claims, warned Elite Insurance.
Keoghs warns over potential hike in RTA claims
Defendant law firm Keoghs and has warned of a possible rise in claims capturing following the government’s announcement to apply the new fixed recoverable costs to all road traffic accident cases notified in the portal after the end of April.
ABI welcomes Scrap Metal Dealers’ Act
The Association of British Insurers has welcomed the Scrap Metal Dealers’ Act as it received royal assent today.
Kennedys backs courts efforts to block discount rate changes
Insurance law firm Kennedys has welcome the courts’ line of action against claimants who argued that the current discount rate should not apply to their cases.
North of the Border: The same rules of privilege apply
The extent of legal professional privilege was at issue when the Supreme Court considered the appeal in Prudential v Special Commissioner [2013].
Solvency II delay is "golden oppurtunity" to solve run-off issues
The delay in the implementation of Solvency II offers insurers a golden opportunity to deal with their outstanding run-off and US APH liabilities, according to Ruxley Ventures.
Top five Asian news stories
The top five Asian news stories from www.insuranceinsight.com over the past seven days.
Hong Kong considers more regulation of investment-linked products
The Securities and Futures Commission, government and regulators in Hong Kong want more protection for investors in investment-linked insurance products.
Indian insurers want tax breaks for personal insurance
The insurance industry in India is calling for tax breaks on personal cover such as home, personal accident and travel to help increase access to the products across the country.
Vijayan appointed chairman of Indian regulator
The Indian government has appointed T S Vijayan, former head of the Life Insurance Corporation, as chairman of the Insurance Regulatory and Development Authority.
China targets polluting industries with mandatory insurance scheme
Heavily polluting industries in China will have to participate in a mandatory insurance program to ensure they can adequately provide compensation for damage.
Indian watchdog hits SKS with Rs50 lakh fine
Shares in Indian finance firm SKS Microfinance fell 2.39% after it was fined Rs50 lakh by the Insurance Regulatory and Development Authority.
KPMG criticises ‘disappointing’ lack of SII timetable
KPMG has branded the lack of a timetable for the implementation of Solvency II as ‘disappointing’, as the European Parliament vote to delay the vote of Omnibus II to 22 October 2013.
Solvency II compliance could move to 2016 following latest delay
The European Parliament plenary meeting to consider, and possibly approve, the Omnibus 2 amendments to the Solvency II directive has been moved back from 10 June to 22 October 2013.
Efra chair McIntosh moves to calm fears over raising IPT to cover flood risks
Industry players have been reassured that a proposal to use a proportion of insurance premium tax to resolve a flood debate impasse relating to contingent liability will not result in a rise in IPT.
Motor Claims 2013: Canada PI fee cap could be emulated
Canada may hold the key to regulatory reform of personal injury motor claims, according to Enterprise liability claims and risk manager Nigel Goodall.
China allows insurers to sell mutual funds
Chinese insurers will be allowed to sell mutual funds to the public as regulators look to increase the role of institutional investors in its capital markets.
Top five European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days.