Regulation
FSA opts for market solution to commission disclosure
The Financial Services Authority (FSA) has decided against mandating compulsory commission disclosure, preferring instead to allow the market to come to its own solution.
Biba welcomes FSA decision not to mandate commission disclosure
The British Insurance Brokers' Association has welcomed the Financial Service Authority's decision not to mandate the disclosure of commission in the commercial insurance sector
FSA: the industry has until 2010/11 to work out commission disclosure
The Financial Services Authority has given the broking market a two year window to prove an industry led solution with regard commission disclosure can work.
Airmic slams dithering FSA over broker commission outcome
The Association of Insurance and Risk Managers has expressed disappointment by the time it is taking to produce the guidance on broker remuneration transparency, which was originally due to be published this year. There is a pressing need for clarity and…
Zurich unveils name change
Zurich Financial Services Group announced today that Zurich Insurance Ireland, the group's Ireland-based European general insurance risk carrier, will be changing its name and incorporation status to Zurich Insurance Public Limited Company with effect…
AIG completes RMBS sale to US government
Stricken US insurer AIG said that it has completed a deal to sell its residential mortgage-backed securities (RMBS) interests to the US government via a newly set-up limited liability company Maiden Lane II.
IIB responds to commission disclosure decision
The Institute of Insurance Brokers(IIB) has welcomed the long-awaited feedback statement from the Financial Services Authority (FSA) regarding transparency and commission disclosure in the commercial market.
Buncefield report published on third anniversary of blast
The cost of the Buncefield explosion could cost £1bn, according to the Major Incident Investigation Board report, which was published on Friday.
IIB slams FSA plans for unlimited compensation limits
The Institute of Insurance Brokers has voiced strong opposition against unlimited Financial Services Compensations Scheme awards.
Novae gets A- rating from Fitch
Novae Insurance Company Limited (NICL)has been given an insurer financial strength (IFS) rating of 'A-' (A minus) by ratings agency Fitch.
Helphire announces board shake-up
Helphire has appointed Charles Lambert as finance director on an interim basis with effect from 1January.
Broking trio approved to buy California earthquake cover
The California Earthquake Authority Governing Board has approved Aon Benfield, Guy Carpenter and Willis Re to work on the CEA's behalf to meet the reinsurance needs of the nation's largest residential earthquake insurance provider.
Scor concludes legacy issue with SEC
Scor has reached an agreement with the US Securities and Exchange Commission to resolve a long-running investigation involving the entity formerly known as Converium.
Adviser jailed for commissions scam
An adviser who cheated major insurance companies into paying over £1 million in up-front commissions on fake policies has been jailed for five years.
Max Capital's oulook revised to positive by AM Best
Bermudian (re)insurer Max Capital Group has had its outlook upgraded to 'positive' from 'stable' on all of its ratings by AM Best.
Brokers concerned over UK insurers' endurance
It appears that all this talk of recession is certainly getting to the UK's brokers. With many well...
Question of cover
A recall of Irish pork will cost pig farmers dearly, as none of the suppliers in the Republic and No...
NAIC adopts US proposal
The National Association of Insurance Commissioners has adopted its reinsurance regulatory modernisa...
The price of safety
Legal Focus: Health and safety
No bailout needed claims Swiss Re
Insurers are unlikely to need a banking industry-style government bailout, despite an expected deter...
Held to account
Legal Focus: Corporate manslaughter
FSA warns travel firms
The Financial Services Authority has warned travel firms that currently sell insurance alongside a h...
Clinical care comes under the spotlight
Atwood v Health Service Commissioner (Queen's Bench Division - 6 October 2008)
Premiums grow
Premiums in the non-life sector grew by 11.6% in 2007, research from Swiss Re has revealed. Accordin...