Regulation
Damages uplift is ‘moot’ point for Direct Line Group IPO
Accountancy firm BDO has claimed the Direct Line Group floatation is unlikely to be affected by the Court of Appeal’s decision to stop personal injury claimants, who have entered a conditional fee arrangement before 1 April 2013, qualifying for a 10%…
Top five Asian news stories
The top five stories from www.insuranceinsight.com over the past ten days.
Top five European stories
The top five stories from www.insuranceinsight.com over the past seven days.
Claims 2012: ABI brands Riot Damages Act "inadequate"
Last year's riots in England demonstrated the need for radical reform of the Riot Damages Act, according to Aidan Kerr, head of property insurance at the Association of British Insurers.
Simple economic capital models could avert financial crisis
The insurance industry needs more dynamic economic capital models if it is to avoid suffering some of the problems exposed during the financial crisis four years ago.
ABI wins 10% damages uplift challenge
Claimants that have entered a conditional fee arrangement before 1 April 2013 will not qualify for the 10% uplift in damages after the Association of British Insurers won a challenge in the Simmons v Castle case.
Global insurance federation vows advocacy role
Thirty-one insurance associations representing 87% of the worldwide insurance business formally established the Global Federation of Insurance Associations today.
Torrance backs clarity over burglar confrontation
Chris Grayling, pictured, plans to change the law to ensure householders who "over-react" when confronted by burglars will not face prosecution.
Indian FDI progresses, but hurdles remain
Insurers hailing the Indian cabinet's approval of a bill raising the foreign direct investment limit in insurers to 49% may be celebrating prematurely, as opposition parties could still block the bill's passage through parliament.
FATCA approach provides certainty, says Guernsey Finance
Guernsey Finance has welcomed the announcement from the island's government that it is seeking to negotiate a partnership agreement with the US to implement the Foreign Account Tax Compliance Act.
Renewable energy would generate growth, says RSA
Steve Kingshott, RSA's global director of construction, engineering and renewable energy, has called on the government to step up investment in renewable energy, arguing that it has a "critical role" to play in economic recovery.
Bernardino blasts "stagnation" in Solvency II talks
Gabriel Bernardino has condemned the "stagnation" in political talks to finalise Solvency II rules in a strongly worded letter to the European Union Commissioner in charge of regulation, Michel Barnier.
"Essential" FDI could raise Rs 30,000 crore, says India's regulator
Raising the cap on foreign direct investment in Indian insurers could attract Rs 30,000 crore to the industry, India's insurance regulator has said.
EIOPA chairman calls for Solvency II clarity
Gabriel Bernardino, chairman of the European Insurance and Occupational Pensions Authority, has urged the European Commission to press ahead with the "stagnant" Omnibus II negotiations and their impact on Solvency II negotiations.
IRDA plans to approve 10 standard insurance products
India's insurance regulator plans to develop 10 standard products which can be launched by insurance companies without seeking regulatory approval.
IRDA to penalise insurers refusing third-party motor cover
India's Insurance Regulatory and Development Authority will take "severe" penal action against general insurance companies refusing third-party motor insurance.
India's cabinet approves FDI hike
India's government has approved the long-awaited increase in the cap on foreign direct investment in Indian insurers.
Pioneering insurance professor passes away
Emeritus professor Robert Carter, a pioneer of university teaching and research in insurance and risk management, has died.
FSA to change free float limit under new listing proposals
The Financial Services Authority has proposed plans to lower the free float limit for UK-listed companies as part of a package of reforms designed to enhance the listing regime.
Hong Kong and Taiwan seek insurance cooperation
Hong Kong and Taiwan are negotiating cooperation agreements on insurance regulation and arbitration, it emerged last week.
University launches post-graduate degree in insurance law
Queen Mary, University of London has launched what it claims is the first post-graduate course solely dedicated to insurance in the UK.
OFT decision hit DLG float pricing, say analysts
The referral of the motor market to the Competition Commission has had a direct impact on Direct Line Group's pricing estimations as the company continues plans to float up to 33% of total share capital.
Indian regulator supports raising FDI cap
India's insurance regulator has echoed calls from insurers to raise the country's foreign direct investment cap to 49% from 26%, saying the injection of foreign funds would benefit the country's insurance industry.
Insurance Strategy 2012: Insurers missing big 'gender' opportunity
The gender directive is driving a "massive change in the industry" which many insurers are missing, according to Ian Hughes, chief executive of Consumer Intelligence.