Regulation
FSA Dear CEO letter - conflicts of interest
To read the Financial Services Authority's letter sent out earlier this week addressing the issue of conflicts of interest simply click on this link: http://www.fsa.gov.uk/pubs/ceo/conflicts_18nov05.pdf
XL to take $830m Q4 loss from Winterthur dispute
XL Capital Ltd has announced that it could receive only $575m net from Winterthur as compensation for adverse developments occurring after its 2001 purchase of the Swiss firm’s International business units.
FSSC and FSA unite to develop standards
The Financial Services Skills Council has revealed that it plans to work with the Financial Services...
Cass makes Aon director a visiting professor
Cass Business School has appointed Aon's Alan Punter as a visiting professor for insurance and risk ...
Appointment at Corpore
Michael McKenna has joined injury management and vocational rehabilitation specialist Corpore as an ...
Practice consensus needed
After attending the excellently produced and well-attended Post Magazine's Question Time (see separa...
The London market must defend its heritage
London is still the major centre for internationally traded insurance and reinsurance, but for how l...
FSA threats should be taken seriously
The Financial Services Authority still has concerns over how conflicts of interest are managed in th...
David Matcham to attend NAIC's winter meeting
David Matcham, the chief executive of the International Underwriting Association, will attend the Na...
New laws could mean no cover
Restaurants and takeaways may find their insurance invalidated from today because they failed or did...
Euro 'Spitzer' inquiry on hold
European Union Competition Commissioner Neelie Kroes has agreed to delay the inquiry into the operat...
ABI talk failed to hit the target
Having seen the Association of British Insurers' director-general, Stephen Haddrill, give a speech a...
Resentment over AMCs
The Vehicle Builders and Repairers Association is, as (MVRA chief executive) Mike Monaghan suggests,...
Regulation loophole for offshore CMCs
Government steps to police claims management companies could be under threat, after the likely regul...
Cancer cover code of practice due in spring
Private medical insurers will have to wait until next spring before they receive a code of practice ...
FSA mulls compulsory commission disclosure
The UK regulator has warned brokers that it will take stock over whether to make the disclosure of c...
Costs dispute over mediation
The Wethered Estate v Davies and others (Chancery Division - 15 July 2005)
Biba urges brokers to lobby FSA
Brokers are being urged by the British Insurance Brokers' Association to lobby the regulator, to hel...
Moody's lowers Transatlantic Re’s rating
Moody's Investors Service has lowered the insurance financial strength rating of Transatlantic Re to Aa3 from Aa2. The outlook for the rating is stable.
FSA highlights brokers' 'positive' approach to regulation
Many insurance brokers are adapting well to the introduction of statutory regulation, the British Insurance Brokers’ Association's (Biba) Scotland conference has been told. Andrew Honey, the Financial Services Authority’s (FSA) head of insurance, small…
FSA: begin planning for MiFID
The Financial Services Authority has moved to encourage senior management at regulated firms to begin preparing for the implementation of the European Union's Markets in Financial Instruments Directive (MiFID), which is likely to come into force on 1…
Moody’s looks at Swiss Re ratings after GE deal
Moody's has announced that it had placed the Aa2 insurance financial strength and senior debt ratings of Swiss Reinsurance Company as well as its' A1 subordinated debt rating on review for possible downgrade.
ABI backs new capital adequacy regime
Following the publication today of the Financial Services Authority's (FSA) Insurance Sector Briefing ('ICAS: one year on'), Peter Vipond, director of financial regulation and taxation at the Association of British Insurers (ABI) has backed the regulator…
FSA to probe conflicts of interest in London Market brokerages
The Financial Services Authority will be contacting the CEOs of London Market brokers "within the next couple of days" on the issue of conflicts of interest.