Regulation
Clyde & Co to open Libya office
Law firm Clyde & Co is opening an office in Tripoli, which will be the firm's fifth in the Middle East and North Africa region.
Eiopa guidelines give clarity now insurers must act say analysts
Insurers were urged to get their final Solvency II preparations underway following the release of Eiopa’s Guidelines for Solvency II Reporting & Disclosure this week.
Solvency II report is progress, analysts say
Market analysts have praised the "encouraging" European Insurance and Occupational Pensions Authority's report on the benefits of current Solvency II templates.
Insurer flood debate at "advanced stage" with Defra
The Association of British Insurers is in "advanced stages" of discussions with the government to find a replacement for the statement of principles, which ensures that homeowners in flood-risk areas are able to get insurance, when it expires in July…
Keoghs appoints eight partners
Keoghs has appointed eight new partners, taking the total to 66.
Insurers urged to use proposed Solvency II templates
The European Insurance and Occupational Pensions Authority has "strongly" advised insurers to start using the proposed reporting templates for Solvency II as a basis to start the implementation phase.
Flood defences need £20m boost in next 20 years, report finds
The government has been urged to invest £20m in flood defences after a report found that four times as many properties could be at risk of flooding in the next 20 years if no action is taken to prepare for climate change.
India's Bhartiya Janata Party continues to oppose FDI increase
Hopes of India's foreign direct investment ceiling being raised have been dashed once more after the opposition Bhartiya Janata Party pledged to vote against any bill that proposes raising the 26% limit.
Poor seat design puts two-thirds of car users at risk of whiplash
Hundreds of thousands of whiplash claims could be prevented each year with better head restraints and seats in UK cars, according to research conducted by Axa Personal Lines and motor research organisation Thatcham.
"Devil in the detail" of pensions insurance scheme
Actuarial firm Barnett Waddingham has offered cautious support to proposals for an insurance scheme that would provide certainty for members of defined contribution pension schemes that they would get a guaranteed minimum pension at retirement.
Allianz consultant takes Assurant compliance role
Assurant Solutions has appointed John Miles as the newest member of its European compliance team.
More remuneration data could confuse customers, says Insurance Europe
Insurance Europe believes proposed European regulatory changes fail to ensure an equal level of consumer protection for all distribution channels of insurance products.
Zurich joins UN-backed responsible investment initiative
Zurich has signed up to a United Nations-backed network of institutional investors, asset managers and service providers that aims to promote best practice in responsible investment.
India's IRDA plans to regulate micro-insurance
India's Insurance Regulatory and Development Authority is planning to issue guidelines for the country's micro-insurance segment to ensure growth.
Indian insurers urged to expand overseas
The Indian insurance regulator has urged homegrown insurers to spread their wings in the overseas market.
Mandatory commission – an necessary evil?
Rumors of mandatory commission disclosure have plagued the market since the start of the year but as the European Commission confirms brokers fears Francesca Nyman assesses the impact on European brokers.
Brokers will use downgraded insurers, but only if clients make the request
Brokers have admitted they will continue to work with downgraded insurers at clients’ requests, despite rating agency Fitch conceding there is no end in sight to potential downgrades linked to the Eurozone crisis.
Legal Update: Migrant Workers - Claims farming
The harvest season in the UK inevitably means a rise in migrant workers in the agricultural sector. The need to navigate questions of ethics, potential conflicts of interest and policy breaches means insurers must scrutinise related claims carefully
Broking Focus: Bespoke tailoring
Biba’s wants the strategic review of its operations by Deloitte to produce a trade body fit to compete alongside the strongest organisations in the 21st century
Comment: Pulling off a balancing act
Will the proposals for reforming insurance contract law in the commercial arena stack up?
Former HSBC Insurance duo poised for £50m drive with motor start-up
A new motor start-up, fronted by a duo of former HSBC Insurance UK executives, has been tipped to make a major play for the broker market in the second half of the year, underwriting up to £50m of business by the beginning of 2013.
Hardy boss looks to the future after restructure and sale are finalised
Hardy chief executive Barbara Merry has said the business can now “look to the future”, following a restructure of its property treaty book and conclusion of its sale to US insurer CNA.
Commission disclosure overhaul could hit Germany hardest
Commission disclosure requirements in the revised Insurance Mediation Directive would have a particular impact on the German market according to law firm Norton Rose.
Post magazine – 5 July 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.