Regulation
AM Best receives European credit approval
AM Best Europe has received formal notice of registration as an approved European credit rating agency under the Credit Rating Regulatory Regime of the European Union.
MoJ to split referral ban enforcement role between industry regulators
The Ministry of Justice has confirmed the government’s proposed ban on referral fees is likely not to be centrally administered, but instead enforced by a collection of disparate regulatory authorities.
Editor's comment: The devil is in the detail
Just when consensus was building across the insurance industry that banning referral fees alone will not cure the UK civil litigation system of all its perceived ills, reduce car insurance premiums, or single-handedly wipe out personal injury claims…
Ask the Expert
With all the recent turmoil in the markets, how is the insurance industry faring in terms of new job creation?
Post Magazine - 15 September 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Tiger Risks becomes first US broker since 2003 to open in London
Tiger Risk Partners has announced the opening of a UK subsidiary headquartered in London.
MoJ to split referral ban enforcement role - Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories including confirmation from the Ministry of Justice that the government’s proposed ban on referral fees is unlikely to be centrally administered, and instead enforced by…
Industry bodies express concerns over new regulator plan
Insurance and broker associations have welcomed the Government’s proposed regulatory reforms in their consultation responses. However, they have also expressed concern its plans could be too “ambitious”, which may potentially cause delays.
Exposure to sovereign debt could led to more downgrades
A worsening of the economic or investment landscape could result in an increase in negative outlooks or downgrades for insurers and reinsurers operating in Europe a report has found.
European insurers facing increasingly stricter regulatory frameworks
Regulatory, accounting and rating agency changes are occurring rapidly globally, albeit at a different pace by region.
APIL demand widespread coroner service reforms
The Association of Personal Injury Lawyers has described the draft charter designed to improve the coroner service as “no replacement” for the planned full-scale reforms which were dropped by the coalition government.
Pro Legal warns MoJ over “dangerous” referral fee decision
London-based law firm Pro Legal has hit out at the Ministry of Justice over its “dangerous” decision to ban referral fees claiming that the move would hurt consumers.
Parabis slams MoJ over referral fees
Parabis has criticised the Ministry of Justice’s decision to ban referral fees.
MMA appoints Solvency II chief
MMA Insurance has appointed Anthony Collins as head of actuarial focusing on the firm's preparations for Solvency II.
Axa urges MoJ to cut legal costs
Insurer Axa has welcomed the Ministry of Justice’s ban on referral fees but has urged the government to tackle lawyers fixed fees.
Biba calls for riot notification changes
The British Insurance Brokers’ Association has urged the government to change the Riot Damages Act notification period permanently from 14 to 42 days.
Costly referral fee ban rejected as claims firm details lobbying alternative
Ai Claims Solutions is set to lobby MPs with a four-point plan to reform the referral fees system in place of the "costly and timeconsuming legislation" of an outright ban.
Editor's comment: A new way of looking at things
Usually I reserve my commentary for the market’s latest developments, seeking to pinpoint emerging trends or highlight questionable practices – both those within the industry and, more often than not, those that adversely impact upon it.
News analysis: Personal injury lawyers on the defensive over litigation claims
Allegations of inflated legal claims cost submissions have found backing from insurers
BIS Countdown: Sir John Grieve - In the eye of the storm
As deputy governor of the Bank of England, Sir John Gieve was in the centre of the worst financial crisis for a century. What has hindsight revealed and what are his views on the subsequent regulatory shake-up?
Monte Carlo Rendezvous: A year of catastrophes
2011 has seen a series of serious natural catastrophes follow fast on those of 2010. How will this shape debate next week at Monte Carlo?
9/11 Contract certainty: The first steps taken
A rush of legal cases always followed a catastrophic loss before contract certainty was introduced. The attacks on 11 September 2001 thrust the issue into the spotlight but were other factors at play?
Post Magazine - 8 September 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
SRA responds to ABS delay
The chair of the Solicitors Regulation Authority, has responded to comments relating to the delay in the SRA becoming an approved regulator of Alternative Business Structures.