Regulation
Law firm warns government against hasty reform of financial institutions
Beachcroft has warned the government against trying to rush through financial reform "in pursuit of favourable headlines".
Queen backs independent fiscal agency
The Queen's speech 2010 has outlined addressing the budget deficit as the key issue for the coming year, with the formation of a new ‘Office for Budget Responsibility’ seen as a measure to address the UK’s £6bn deficit.
Deficit will be cut through ‘reduced spending not increased taxes’
In her speech to mark the state opening of Parliament, the Queen has said that “dealing with the deficit and continuing to ensure the economic recovery is the most urgent issue facing Britain”.
Government outlines Bank of England intentions
The coalition government has introduced a bill to increase the power of the Bank of England as part of the Queen’s Speech.
KPMG appointed as First City's administrator
David Costley-Wood and Michael Walker, restructuring partners at KPMG, have been appointed joint administrators of First City Insurance Group and its subsidiary company, First City Partnership by the companies’ directors.
Former EU ambassador chosen to lead new Irish financial services push
Ireland’s international financial services industry, in a private sector initiative, has announced its intention to create the role of chairman of IFSC Ireland.
Former EU ambassador chosen to lead new Irish financial services push
Ireland’s international financial services industry, in a private sector initiative, has announced its intention to create the role of chairman of IFSC Ireland.
US financial reform bill passes
The US Senate approved a sweeping Wall Street reform bill on Thursday night, capping months of wrangling over the biggest overhaul of financial regulation since the 1930s.
CCIR praises EU for blasting US reinsurance tax proposals
The Coalition for Competitive Insurance Rates (CCIR) has commended the European Union for "speaking out against a controversial tax proposal” on affiliated reinsurance included in President Obama's 2011 budget proposal.
US financial reform delayed
In a setback for the Obama administration, Senate Democrats failed to muster enough votes on Wednesday to end debate on the overhaul of financial regulation, delaying a vote on passage.
Ex-Aviva public affairs head urges Tory colleagues not to scrap IIWG
The former head of public affairs at Aviva and new Conservative MP Tracey Crouch, believes the Insurance Industry Working Group report should not simply be scrapped because of a change of government.
Post Magazine - 20 May 2010
Subscribers to Post can now read the latest edition online as a digital interactive e-book.
BIBA 2010: Willis CEO questions FSA's "grandfathering" of Quinn
Willis chief executive Joe Plumeri has questioned the Financial Services Authority's role in the problems revolving around Quinn Insurance.
POS PPI ban confirmed
The Competition Commission has reaffirmed its decision to provisionally introduce a point-of-sale prohibition on payment protection insurance.
Confusion over FSA prompts calls for government rethink
The insurance industry has called on the government to review its regulatory proposals, after plans to scrap the Financial Services Authority were thrown into confusion.
FOS: Insurance disputes up 38% in 2009/10 driven by PPI
The Financial Ombudsman Service – the independent organisation that settles disputes between consumers and financial companies – today said it resolved a record 166 321 disputes – a 46% annual increase – in the period 2009/10 resulting in compensation…
BIBA 2010: Galbraith calls on government to introduce the "right legislation"
The British Insurance Brokers’ Association is set to launch a major lobbying campaign to promote the role of the broker to the Liberal-Conservative coalition government.
Cable creates Business Advisory Group
Business secretary Vince Cable has created a group of experts top help advise the government on business and economic policy.
Towers Watson issues Solvency II insurer warning
Risk management consultancy Towers Watson has warned that insurers may be “cutting corners” in their approach to the Solvency II’s QIS5 exercise.
Swiss Re: Insurers should not ignore 'the elephant in the room'
Against the backdrop of the upcoming regulatory framework in Europe – Solvency II – Swiss Re has outlined how it believes insurance risk managers can shape their companies’ risk management culture in the post-crisis world.
Towers Watson issues Solvency II insurer warning
Risk management consultancy Towers Watson has warned that insurers may be “cutting corners” in their approach to the Solvency II’s QIS5 exercise.
Swiss Re: Insurers should not ignore 'the elephant in the room'
Against the backdrop of the upcoming regulatory framework in Europe – Solvency II – Swiss Re has outlined how it believes insurance risk managers can shape their companies’ risk management culture in the post-crisis world.
Chancellor confirms 22 June Budget
An emergency Budget will be held on Tuesday 22 June, the Chancellor announced today.
FSA issues warning of broker exposure to corruption
The Financial Services Authority has published the findings of its recent review of anti-bribery and corruption systems and controls in commercial insurance broker firms.