Regulation
Going for brokers.
As well as the modernisation of Lloyd's, brokers are also facing a shake-up that will ensue when the Financial Services Authority assumes regulatory control of the market. Marcus Alcock gives an overview of what the transition is likely to mean for the…
Clarity is the best policy.
Traditionally, insurance policy wordings have been a bit of a puzzle to the uninitiated reader, however, the FSA looks set to implement legislation on plain English, so insurers had better get out their dictionaries, says Steven Spedding.
Loss adjusters should be price-makers.
In the article Experiencing a loss of direction? (Post Magazine, 28 February, p20), Neil Ventris of ...
Eureko delays flotation plan.
Pan-European insurer Eureko has put back its flotation plan, after its net income for 2001 dropped b...
Law Society Council to vote on reforms.
The Law Society Council is to vote on reforms that could radically alter the way law firms are funde...
The future shape of regulation is in insurance industry's hands.
"Once upon a time there was a land where insurance companies were always right and claims were never...
FSA appoints high street head.
The Financial Services Authority is expected to appoint its new head of regulation of general insura...
View from the US - the Enron fallout.
The fallout from the collapse of energy giant Enron and the problems of its auditors Arthur Andersen...
A question of damages.
Last week, the government confirmed its intention to move away from lump-sum damages for personal injury. Lord Hunt warns it must ensure certainty for insurers in any new system, or risk imposing a system worse than that which presently exists.
IFA accuses Equitable Life of deception.
An independent financial adviser has joined the legal fray against Equitable Life by forming another...
Vibration directive comes under fire.
A European Union directive that seeks to limit the time farmers and lorry drivers can work with cert...
Treasury could offer airline cover until May.
The Treasury looks likely to continue as insurer of last resort for UK airlines until May, following...
Actuaries' popularity up despite Indie collapse.
The UK insurance industry could be facing a shortage of suitably qualified actuaries when the curren...
UK insurance industry must look to shape EU legislation.
European issues are becoming increasingly important for the UK insurance industry on both the genera...
Monetary Authority of Singapore signs an agreement.
The Monetary Authority of Singapore has signed an agreement with Hong Kong authorities to co-operate...
Insurers welcome lump-sum payments move.
The Government's decision to query the whole system of 'lump-sum' awards for personal injury damages...
XL Winterthur Int'l rating down
Rating company Standard & Poor's (S&P) has lowered its counter-party credit and financial strength ra...
Government must act on floods says ABI - again
Initiatives to reduce the risk of flooding for Britain's 1.8 million flood vulnerable property owners...
NAIC agrees on terrorism exclusions
The National Association of Insurance Commissioners (NAIC), of the US, has agreed that terrorism excl...
GE likely to float Employers Re, says WSJ
General Electric (GE) is likely to turn its property and casualty reinsurer Employers Re Corporation ...
Ace finds its limitations in disability insurance case.
Surendranath Seechurn v Ace Insurance SA-NV (Court of Appeal - 6 February 2002).
Solvency 2 report closes.
The results of an 11-month study by KPMG, which is expected to form the basis of the European Commis...
Survival rates.
If the Financial Services Authority was to impose a fixed-fee system in general insurance, this could cause problems for brokers. A shift in culture, greater efficiency and diversity are perhaps the best ways to capitalise on their existing assets and…
Wellington shows £66.7m loss for 2001
Wellington Underwriting has recorded a pre-tax loss on ordinary activities of £66.7m including a £73....