Regulation
S&P positive on Hiscox Insurance
Standard & Poor's has revised the outlook on the long-term counterparty credit and insurer financial strengths ratings of Hiscox Insurance, the UK operating entity of Bermuda-based Hiscox Group (Hiscox), to positive from stable. The rating agency said…
IIB slams Economic Minister
The Institute of Insurance Brokers has criticised Economic Secretary Kitty Ussher after she claimed brokers were indirectly responsible for Independent Insurance credit card claw backs.
Lloyd's Spain receives award
Lloyd’s Spain has been awarded the ‘Sal’ award 2007 for its professionalism, corporate brand, proximity and support to the insurance intermediaries sector.
ABI demands government sits up and listens
The Pitt Review
A fair wind blows
Legal Report
Top five stories online
The five most popular news stories on postonline.co.uk over the last week were: 1. Insurance boss s...
Flood defence
The summer floods were a "wake-up call" for the country, according to the interim report of the inde...
Equal treatment means confusion for insurers
Personal Lines News
Travel boss banned over misleading FSA and auditors
Travel broker Insure and Go's former chief executive officer, James Richardson, has been banned by t...
New year, new FSA rules
The Financial Services Authority has published its new Insurance Conduct of Business sourcebook, whi...
Aon sheds two firms
Ace has agreed to acquire Aon underwriting subsidiary Combined Insurance for $2.4bn (£1.19m). Munich...
Insurers could benefit from class actions
Legal Report
FSA proposes to extend the common platform to non-MiFID/CRD firms
The Financial Services Authority (FSA) has published proposals to extend certain chapters of its Senior Management Arrangements, Systems and Controls Sourcebook (SYSC) - known as the common platform - to firms not subject to the Markets in Financial…
Catlin in $225m US Cat bond deal
Lloyd’s and Bermudian (re)insurer Catlin has announced that it has bought coverage totalling $225m under a catastrophe swap agreement in the event of severe US natural catastrophes over a three-year period. .
Airline underwriters set for least profitable year since 2000
The last three months have seen the airline insurance market settle into a consistent pattern of around -10% average premium reductions for lead airline hull and liability insurance, according to Aon’s December airline insurance news.
Former Dual boss to head up new JLT underwriting arm
Jardine Lloyd Thompson Group today announces the establishment of Thistle Underwriters haded by former Dual boss James Gerry.
FSA outlines travel insurance regulation plans
The Financial Services Authority today published a consultation paper setting out its detailed plans for regulating travel insurance sold alongside a holiday – known as Connected Travel Insurance (CTI) – which is mainly sold by travel firms and holiday…
FSA publishes its new ICOB rules
The Financial Services Authority today published its new Insurance Conduct of Business sourcebook, which sets out the standards and requirements for general insurance firms on how they deal with their customers.
New FSA travel insurance regime will protect consumers says regulator
The Financial Services Authority (FSA) has published a Consultation Paper setting out its detailed plans for regulating travel insurance sold alongside a holiday – known as Connected Travel Insurance (CTI) – which is mainly sold by travel firms and…
FSA publish new ICOB sourcebook
The Financial Services Authority (FSA) today published its new Insurance Conduct of Business sourcebook (ICOBS) which sets out the standards and requirements for general insurance firms on how they deal with their customers.
NU slammed over £3.3m fraud failing
The Financial Services Authority has fined Norwich Union £1.26m for not having effective systems and controls in place to protect customers' confidential information and manage its financial crime risks. These failings resulted in a number of actual and…
FSA in broker banning action first
The Financial Services Authority has today banned David Holland, sole director of Flett Sinclair Insurance Brokers Limited and Petsure Limited, for misusing customers' assets. This is the first time the FSA has taken action against a pet insurance…
FSA bans pet insurance broker in enforcement first
The Financial Services Authority (FSA) has banned David Holland, sole director of Flett Sinclair Insurance Brokers (FSIB) and Petsure, for misusing customers' assets, the first time the FSA has taken action against a pet insurance intermediary.
Fifteen 'urgent recommendations' outlined in Pitt flood report
The $6bn 2007 summer floods in the UK were a “wake-up call” for the country, according the interim report of the independent review commissioned by the UK Government to learn lessons from the events.