Regulation
Asian insurers warned to watch policy admin or repeat Europe's mistakes
Capgemini has warned insurers based in Asia Pacific that they should not rest on their laurels when it comes to policy administration or they will suffer the same issues European insurers are facing now.
Talent deficit could scupper financial services firms' growth plans
A serious talent shortage could derail the growth plans of financial services companies globally, according to PwC's latest CEO survey.
Japan's P&I club cuts cover for ships in Iran
Japan's P&I Club has confirmed it will only be able to provide a fraction of insurance coverage to tankers that transport Iranian oil under the new European Union sanctions.
Thai regulator raises foreign share cap to 49%
Thailand's insurance regulator, The Office of the Insurance Commission, has agreed to raise the foreign shareholding limit in the country's insurance companies from 25% to 49% in a bid to liberalise the market.
Life insurers need derivatives to hedge risks, says IRDA chairman
The chairman of India's insurance regulator has indicated that it may relax the ban on life insurance companies investing in derivatives, in a speech at the 14th Global Conference of Actuaries in Mumbai.
RTA Portal and LSSA make "significant progress" in consultation
The RTA Portal and trade body the Legal Software Suppliers Association have made "significant progress" during its most recent consultation.
Motor injury claims cost consumers £1666 a minute
The legal fees involved in settling motor personal injury claims cost consumers £1666 every minute, the Association of British Insurers has found.
European Council introduces rule to limit short selling in crisis situations
The European Council has adopted a regulation designed to restrict short selling and certain aspects of credit default swaps in situations where there is a threat to financial stability.
Indian shipping firms may look to China for insurance
Indian shipping companies may turn to China in their struggle to find replacement insurance coverage when EU sanctions on Iranian oil come into force.
Quarter of Indian consumers think life insurance is not important
Insurers in India face an uphill struggle to persuade consumers of the need for life insurance, a recent study indicates.
Insurance Insight – top 10 stories
The top 10 stories from www.insuranceinsight.eu over the past seven days.
Insurers in the Philippines reject tax waiver
Non-life insurers and reinsurers in the Philippines have rejected a government offer of a 10% reduction in annual aggregate tax, according to reports in the local press.
Opening China's mandatory motor market won't harm domestic insurers
The Chinese government's decision to open the third-party motor liability market to foreign insurers is unlikely to adversely affect local insurers, according to the nation's biggest non-life insurer.
IRM launches Turkish version of ISO 31000 guidance
The Institute of Risk Management has launched a Turkish version of its ISO 31000 guidance.
The temporal scope of Rome II
Rome II was intended to bring about uniform choice of law rules but had left some uncertainty over when the regulation applied in cross border accidents. Tarek Uddin explains how the recent case of Homawoo has helped bring clarity.
Liberalising the Italian motor market
The Italian government is aiming to combat motor insurance fraud with its Decreee Cresci Italy. However, as Paolo Golinucci explains this might not be as straightforward as it seems.
MGAA elects board and targets FSA regulation
The Managing General Agents Association has formed its first elected board with Reg Brown as chair.
Garwyn calls for "thorough" fraud investigation of claims to tackle compensation culture
Liability adjuster Garwyn has welcomed the government's initiatives to tackle the compensation culture following the insurance industry's meeting with Prime Minister David Cameron and business leaders.
Law firm unsurprised by FSA Cole depature
Pinsent Masons is "not surprised" by Financial Services Authority boss Margaret Cole's departure because Martin Wheatley was appointed to chief executive of consumer protection and markets authority last year.
FSA boss Margaret Cole quits
Financial Services Authority managing director and board member Margaret Cole will leave the organisation later this year after seven years to seek "a fresh challenge".
Solvency II Timetable Uncertainty: Stopping the clock?
Despite the EC's denials, rumoured delays to the implementation of Solvency II continue to echo around the industry. What are the implications of a postponement to the directive?
Raymond James wins High Court litigation on restrictive covenants
International law firm Faegre Baker Daniels LLP has successfully defended its clients, Raymond James and seven former Edward Jones financial advisors, in a high-value High Court restrictive covenant claim, resulting in all claims being dismissed and…
Webinar: Closing the loop on records management and data security risk
In this video, Incisive Media’s group editorial services director David Worsfold chairs a lively discussion on records management and data security risk, including the challenges of managing records during the 2012 Olympic Games.
Post magazine – 16 February 2012
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.