Regulation
Compliance firm urges industry to work together for regulatory change
Wolters Kluwer Financial Services UK managing director Dean Curtis has urged the financial services sector to pull together to ensure the Chancellor George Osborne’s regulatory changes are effective.
Personal injury disputes jump 32% in two years
The number of personal injury claims continues to surge despite reforms to regulate claims handling companies, according to statistics obtained by Sweet & Maxwell.
FSA break-up: What's your view?
The Chancellor of the Exchequer has sounded the death knell for the Financial Services Authority.
US targets two insurers, banks, shipping and energy sector in new Iran sanctions
The US Treasury on Wednesday blacklisted more companies – putting them off limits to US businesses - including two insurers.
ABI warns government against adding to burden of costs
The Association of British Insurers has said that it is "open minded" to regulatory changes to the financial services sector.
SEC ends probe of AIG and executives
US regulators have closed an investigation of AIG and some of its executives over the insurer's near collapse in 2008 that led to a $182bn government bailout, according to newswire Reuters.
Sants to head transition to new financial regulatory body
Hector Sants has agreed to remain as chief executive of the Financial Services Authority and to lead the transition and the creation of a new prudential authority.
Chancellor outlines future of financial regulation
The Chancellor of the Exchequer has outlined the government’s intention to hand over regulatory control of the financial services sector to the Bank of England.
US targets two insurers, banks, shipping and energy sector in new Iran sanctions
The US Treasury on Wednesday blacklisted more companies – putting them off limits to US businesses - including two insurers.
Law firm criticises government plans
Law firm CMS Cameron McKenna has said that the government’s plan to split supervision and enforcement of the financial services industry will “dissipate responsibility”.
FSA powers to be cut
Chancellor George Osborne has confirmed that he will give the Bank of England the key role in regulating the UK financial sector, the BBC reports.
Airmic chief executive reveals what’s next for non-disclosure
As the Association of Insurance and Risk Managers unveiled its plans this week to tackle the failings of UK insurance law on the key issue of non-disclosure, Lynn Rouse spoke to chief executive John Hurrell to get more detail on what will happen and when.
Solvency II to have far-reaching impact
Fitch Ratings has said that it expects Solvency II, the European Union's new insurance regulatory regime, to have far-reaching effects on insurers, with both positive and negative credit rating implications.
Solvency II to have far-reaching impact
Fitch Ratings has said that it expects Solvency II, the European Union's new insurance regulatory regime, to have far-reaching effects on insurers, with both positive and negative credit rating implications.
Postbox: A Budget tax warning
With the new coalition government currently reviewing spending and revenue, many forecasters believe that the 5% tax rate on general insurance will be at least doubled in the emergency Budget due on 22 June.
Comment - ERM & Solvency II: Staying flexible
Liz Taylor warns about taking a mechanised approach to Solvency II and enterprise risk management, claiming an organic and flexible stance is better.
Airmic reveals solution to non-disclosure issue
The Association of Insurance and Risk Managers has unveiled plans to end disproportionate member penalties for inadvertent non-disclosure in a move it hopes will be mirrored by eventual insurance law reform.
Ceiops member disputes broker independence
Intermediaries that accept commission should be prevented by law from describing themselves as independent, according to a member of the Committee of European Insurance and Occupational Pensions Supervisors.
Tory Lord to consider PI ad ban
The Conservative Lord appointed to lead a review to put the “commonsense back into health and safety” rules has said he will look at banning personal injury firms from advertising their services.
Sally Dewar set to leave FSA
The Financial Services Authority has announced that Sally Dewar, board member and managing director of Risk, has decided to leave the organisation in May 2011.
PJ Hayman calls for standardisation of tax rates for insurance
P J Hayman, specialist travel insurance and schemes provider, calls on the new government to reassess the level at which Insurance Premium Tax is charged on travel insurance.
Evans is new insurance parliamentary group chair
The All Party Parliamentary Group on Insurance and Financial Services, for which Post provides the secretarait, elected former trade minister Jonathan Evans as its new chairman at a meeting in the House of Commons last night.
Biba calls for IPT freeze
The British Insurance Brokers’ Association is urging the government not to increase the 5% rate of insurance premium tax on insurance products in its Budget on 22 June.
ABI chair calls on government to put words into action over tax reform
The outgoing chairman of the Association of British Insurers Archie Kane, has launched an attack on European law makers for not differentiating between insurance and other financial services.