Regulation
Scor leaves NZIA and commits to Norwegian gas and oil exploration
Reinsurer Scor has become the latest founding member to leave the Net-Zero Insurance Alliance, CEO Thierry Leger announced at the company’s annual general meeting.
Q&A: Melissa Collett, CII
In her final days at the Chartered Insurance Institute, Melissa Collett, professional standards director, reflects on the challenges facing the 126-year-old organisation and shares her hopes for the future.ding and membership body.
Swiss Re joins Net-Zero Insurance Alliance exodus
Swiss Re has joined Zurich, Hannover Re and Munich Re in turning its back on the Net-Zero Insurance Alliance.
How insurers can crackdown on sexual harassment
Hannah Mahon, partner at Eversheds Sutherland, reveals how small changes to employment tribunal claims forms could help insurers measure the impact of steps to crack down on sexual harassment.
Brokers vote for regulatory stability as top desire
A period of stability with no regulatory or legislative changes topped the wish list among attendees polled at the British Insurance Brokers’ Association conference in Manchester yesterday.
View from the top: Why getting personal is key to Consumer Duty compliance
Michelle Bree, chief operating officer at Gallagher, says the Consumer Duty presents a unique opportunity for the industry to get closer to customers and build trust.
FCA flags concerns about 'tick-box' approach to fair value
Insurance firms are applying a ‘tick-box’ approach to fair value assessments, according to the Financial Conduct Authority’s director of general insurance Matt Brewis.
FCA urged to tackle unacceptable regulatory burden on brokers
The Financial Conduct Authority has been urged to address the “unacceptably high” regulatory burden faced by insurance brokers.
Biba updates on manifesto ahead of conference
British Insurance Brokers’ Association chief executive Steve White said the trade body's members “know there's an ESG train coming down the line” and that “everybody will need to get on board at some time”.
Sam Woods, Prudential Regulation Authority
Sam Woods, chief executive of the Prudential Regulation Authority, is shaping the industry’s capital requirements and is willing to clash heads with the government if he doesn’t agree with their desire to rip up the European Union’s rulebook.
Matt Brewis, Financial Conduct Authority
The Consumer Duty is a “significant shift” in the Financial Conduct Authority’s approach to supervision and leading the charge of ensuring the industry understands the requirements is Matt Brewis, director of insurance.
FCA outlines plans to improve whistleblower engagement
The Financial Conduct Authority has set out plans to improve the way it engages with whistleblowers, including giving people who approach the regulator with information more detail on what action is taken as a result.
In conversation: Biba’s White and Trudgill on broker leasehold commissions
After Levelling Up Secretary Michael Gove said he was “outraged” at the findings of an FCA report into broker remuneration surrounding leaseholders in multi-occupancy buildings, British Insurance Brokers' Association chief executive Steve White and…
Podcast: What regulators have in store for insurers and brokers
Insurers hoping to see European Union rules ripped up this year are likely to be disappointed, Michael Sicsic, managing director of Sicsic Advisory, has warned in the latest Insurance Post Podcast.
Insurance Institute of Northern Ireland fails in no confidence vote against CII
The Insurance Institute of Northern Ireland held a vote of no confidence against the Chartered Insurance Institute at its Annual General Meeting on Tuesday morning, Insurance Post can reveal.
Insurers’ role amid perfect storm battering the UK construction sector
Blog: Natalie Boardman, underwriting manager for professional indemnity at CNA Hardy, stresses the need for rigorous risk management and insurance that addresses UK construction firms’ numerous challenges.
Gove ‘outraged’ by broker leasehold commissions
In a letter to Financial Conduct Authority CEO Nikhil Rathi, the Secretary of State for Levelling Up, Housing and Communities, Michael Gove, said he is “outraged” by the findings of the FCA report into broker remuneration.
FCA tells brokers to stop paying third parties without justification
The Financial Conduct Authority expects brokers of multi-occupancy buildings to “immediately stop paying commissions to third parties where they do not have appropriate justification and evidence for doing so”.
Could the PRA soon be knocking on personal lines insurers’ doors?
Editor’s View: 2022 was tough for personal lines, but if you are an insurer who had a particularly difficult year, the Prudential Regulatory Authority could soon be knocking on your door.
Howden’s Peter Blanc on whether AI is the answer to Consumer Duty compliance
Peter Blanc, executive chairman of Howden UK and Ireland, examines the challenges inherent in the forthcoming Consumer Duty and asks whether artificial intelligence could help the industry meet its demands.
Regulator warns insurers it is ready to mark ESG homework
The Prudential Regulation Authority told insurers to make sure they are doing their environmental “homework” because the watchdog will soon be marking it.