Regulation
Belarus targets regulatory overhaul of insurance market
A major overhaul of the Belarus insurance industry is being planned in an effort to close the gap between Belarus and its European neighbours, according to online news agency Xprimm.
China publishes draft proposals on agricultural insurance
China has issued draft proposals for regulating agricultural insurance to solicit public opinion on the measures designed to promote the sound development of the farming sector, according to a circular published by the Legislative Affairs Office of the…
Top 10 news stories
The top 10 most popular articles published on insuranceinsight.com over the past seven days.
Uncertainty over Solvency II start date affects firms' preparations
Over 75% of insurance companies believe Solvency II implementation will be delayed beyond the intended start date of 1 January 2014, according to research by UK firm Barnett Waddingham.
Insurers expect further Solvency II delays
More than three quarters of insurance companies believe that the Solvency II implementation date will be delayed beyond 1 January 2014, according to research conducted by actuary Barnett Waddingham.
UAE wins solvency reprieve
United Arab Emirates' insurance companies have won a three-year reprieve on solvency issues.
EIOPA says regulators must overrule Solvency II confidentiality agreements
The European Insurance and Occupational Pensions Authority has ripped up confidentiality agreements between insurers and third-party Solvency II consultants selling validation models.
AMICE report charts rise of European mutuals
Mutual and cooperative insurers now have a 26% share of the European insurance market, according to a report by the Association of Mutual Insurers and Insurance Cooperatives in Europe.
Weightmans wins fraud and claims contract on MIB legal panel
Weightmans law firm has become the Motor Insurance Bureau's legal services supplier for core claims and fraud following a strategic review by the association.
Sri Lanka's EAP enters insurance broking with Omani firm
EAP Group will form a joint venture with Oman-based broker Risk Management Services LLC to capitalise on the growing insurance market in post-war Sri Lanka.
Indian insurer will provide liability cover for tankers carrying Iranian crude
State-owned Indian insurer General Insurance Corp of India will step forward to provide third-party liability cover of up to $50m for ships bringing Iranian crude oil from Iran, according to reports.
Indian Reserve Bank says case for FDI hike exists
The Reserve Bank of India has said there is a case for raising the foreign direct investment cap in insurance in view of India's growing integration with the global economy.
China opens motor liability market to foreign insurers with immediate effect
Foreign insurance companies are now able to undertake the business of China's compulsory traffic accident liability insurance, according to an amended regulation.
US Solvency II equivalence suffers setback
The US National Association of Insurance Commissioners has been vocal in its opinion of the EU's aim to make the country a Solvency II equivalent.
China to broaden insurers investment scope
The Chinese regulator has said the country will broaden the investment scope of insurers and simplify approval procedures to boost the industry’s support to the nation’s economic growth.
Internal model key to insurers' infrastructure investments, says Fitch
The future ability of insurance firms to invest in infrastructure projects is likely to depend on whether they use internal models to determine their Solvency II capital requirements, and can persuade regulators that infrastructure investment merits…
Filipinos dependent on public insurance schemes
Over 90% of Filipinos are reliant on government retirement insurance, according to the Banko Sentral ng Pilipinas's inaugural Consumer Finance Survey.
Indian government considering mis-selling role for ombudsman
The Indian government is considering expanding the remit of the insurance ombudsmen scheme to cover mis-selling of insurance products.
Indian chairman of Bar Council demands insurance scheme
The newly elected chairman of the Bar Council of India, Manan Kumar Mishra, has demanded an insurance scheme for lawyers.
Lord Justice Jackson set to have operation
The judiciary has released a statement that Jackson, who has been appointed to lead a review into the costs of civil litigation, will be undergoing an operation for cancer.
Tonks calls on government for a fair deal for injured people
The Association of Personal Injury Lawyers said insurers and the government will be challenged to face up to their responsibilities for injured people at its annual conference this week.
GWP of global non-life insurance to reach $2,500bn by 2017
The global non-life insurance industry saw moderate growth during 2006-2011 and the growth momentum is expected to continue, reaching an estimated $2,500bn in 2017 with a CAGR of 4.2% over the next five years, according to Lucintel.
Insurance Insight – top 10 stories
The top 10 most popular articles published on insuranceinsight.eu over the past seven days.
Islamic Financial Services Board admits five new members
The Islamic Financial Services Board has admitted five new organisations into its membership.