Regulation
Middle East guest blog: Consumer protection my foot
The insurance broking fraternity in the United Arab Emirates met on 9 February to discuss how, through concerted effort, they can enter into a meaningful dialogue with the UAE Insurance Authority to reverse the recently released, notorious Directive 2.
To ‘E’ or not to ‘E’ – that is the question?
As the European insurance industry slowly starts to emulate the UK and adopt e-trading, Simon Ronaldson asks how European insurers can learn from the experience of their more mature counterparts.
Solvency delay poll result
Is insurers' biggest concern the delays that are occurring in Solvency II?
Apil criticises ‘short-sighted’ civil justice change
The Association of Personal Injury Lawyers has said that introducing further change to a civil justice system which is already in the throes of a series of major reforms would be short-sighted.
Questions remain over county court consultation response
Access to Justice Action Group spokesperson Andrew Dismore has accused the government response to the consultation on county court reforms of being a "damp squib".
Countdown to EIS: Q&A with keynote speaker Bart De Smet
Bart De Smet, group chief executive officer for Ageas is the keynote speaker at Insurance Strategy Europe taking place in Brussels on Wednesday 21 and Thursday 23 March. In the first of a series of articles counting down to the event Insurance Insight…
Liability - Cosmetic treatments: Smoothing out the wrinkles
With a rise in cosmetic treatments, there is more scope for problems, as the recent PIP implants scandal has shown - whether it is clinical negligence or a product defect, insurers must be wary.
FSA's 'twin peaks' transition model welcomed, but further clarity sought
The Financial Services Authority's decision to create a 'twin peaks' operating model to mirror the upcoming regulator has been hailed as a "chance to get it right for the future".
Government deregulation puts sprinkler legislation on back burner
Insurers have been told to prepare for government apathy over mandatory sprinklers legislation and, at best, expect piecemeal change.
Post magazine – 9 February 2012
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Vietnam's finance ministry calls for consolidation to strengthen insurance market
Vietnam’s finance ministry plans to restructure the country’s insurance industry this year in a bid to stabilize the market, according to reports in the local press.
FSA boss: Insurers and brokers face 'twin peak' regulatory model from April
The Financial Services Authority will reach a "major milestone" in the regulatory reform programme on 2 April 2012, namely the introduction of a ‘twin peaks’ model operating within the FSA.
Insolvent insurers not a systemic risk
An insolvent global insurer would not pose systemic risk to the global financial system, according to the latest report by insurance think tank, The Geneva Association.
Insurers pose no systemic risk, says report
International insurance think tank, The Geneva Association, has said insurer wind-downs are always controlled and orderly and insurance does not pose a systemic risk.
Countdown to EIS: Q&A with keynote speaker Bart De Smet
Bart De Smet, group chief executive officer for Ageas is the keynote speaker at Insurance Strategy Europe taking place in Brussels on Wednesday 21 and Thursday 23 March. In the first of a series of articles counting down to the event Insurance Insight…
How will the ECJ gender ruling impact European insurers?
As the national press continues to probe the impact of the European Court of Justice’s gender ruling on the European consumer, Francesca Nyman asks if European insurers can comply and still retain their competitive edge.
New rules for reinsurance writers in India
India’s supervisory authority, the IRDA, has issued new regulatory requirements for reinsurers writing cross border risks in the country.
Eiopa chairman 'concerned' about Solvency II delays
Gabriel Bernardino, chairman of the European Insurance and Occupational Pensions Authority, has said in a letter to the European Commission what supervisors, industry and consumers would "benefit most from is certainty on the implementation of Solvency…
Cyber liability poll results
Will proposed privacy regulation increase the need for cyber liability insurance?
Zurich applauds request for global compliance database
Zurich has applauded Airmic's and FERMA's focus on increasing the clarity of international insurance requirements.
European insurers face ongoing capital challenges
European life and non-life insurers must make difficult strategic decisions in 2012 with the recent European sovereign downgrades adding to capital pressures, according to Ernst & Young’s new Insurance Industry outlook.
City wants regulation simplified
Law firm Evershed’s survey of the City has found that a narrow majority (51%) of City businesses think that Solvency II should be simplified compared to a quarter (27%) who believe that it does not require any changes.
FSA demands 15.6% rise in its final budget
The Financial Services Authority has said it needs a 15.6% increase in funding to £578.4m, up from £500.5m in 2011/12 for its final year as a regulator.
RSA job cuts not mark of wider trend says recruiter
Regulatory changes are likely to keep technical roles in-house, however, the number of support function redundancies are expected to rise as an industry-wide outsourcing trend continues in 2012.