Regulation
FCA broadens ombudsman service to SMEs
The Financial Conduct Authority has announced its plans to broaden the Financial Ombudsman Service to benefit smaller SMEs.
Insurers ask for two more years to implement IFRS 17
Insurance associations from around the world are asking for a two-year delay in the implementation of the International Financial Reporting Standard 17 for insurance contracts.
Evolving technology makes cyber risk pricing ‘challenging’ to predict
The rate at which technology is evolving makes it difficult to predict cyber risk pricing, members of the press heard at a conference in Las Vegas.
Regulators consult on impact of climate change on insurers
The Prudential Regulation Authority and Financial Conduct Authority have both invited insurers to respond to consultation papers on the impact of climate change on their operations and investments.
Most downloaded content by insurers using Insurance Hound during August and September
Brexit, regulation and loyalty catch the eye of insurers.
Apil's Brett Dixon on how the future discount rate could be skewed
A panel of independent experts needs to be involved in the first review of the discount rate, argues Brett Dixon, president of the Association of Personal Injury Lawyers.
The evolution of risk modelling in insurance
Regulation might have helped to speed up the evolution of risk modelling but technology advances, especially cloud computing, are now taking this development to the next level. Edward Murray explores the benefits this is bringing and how insurance…
Blog: Mark Wilson the surefire hit as Aviva CEO, who lost the trust
Following yesterday's announcement by Aviva that Mark Wilson is to step down as group CEO of Aviva, Jonathan Swift reflects on why the move was not such the "shock" some painted it as.
B3I CMO: GDPR is ‘wrong’
General data protection regulation is not fit for purpose, the chief marketing officer for industry-wide blockchain initiative B3I told attendees of Post’s Digital Insurance World conference.
Theresa May pledges to take action against dual pricing
Prime Minister Theresa May has vowed to take action against companies that impose a “loyalty penalty” on customers.
Marsh UK CEO defends broker facilities amid FCA's market-wide probe
The CEO of the UK's largest broker has defended broker facilities, amid an official probe into allegations the practice is anti-competitive.
Analysis: How regulation could clip the wings of CMCs
In six months’ time, claims management companies will fall under the umbrella of the Financial Conduct Authority.
Top 100 UK insurers 2018: AM Best commentary: Under pressure
In 2017, the combined underwriting results of the largest 100 UK non-life insurers improved but remained in the red. How well did insurers perform under pressure from strong competition and unfavourable claims trends?
Bupa fined £175,000 for data breach
The Information Commissioner’s Office has fined Bupa £175,000 for “systemic data protection failures”.
This week in Post: Swipe right for Swinton
As Swinton meets its match in Ardonagh, the insurance courtship game has continued to hit headlines.
RSA's Carolyn Mackenzie on the delicate balance struck by whiplash reforms
Carolyn Mackenzie, director of complex claims at RSA, argues that whiplash reforms are striking a delicate balance well.
Docu-Video: The future of drone regulation
Kennedys experts from around the globe discuss the future of drone regulation
This Week in Post: Surprises and savings
Getting a nasty surprise when the bill arrives is a feeling many of us have experienced. Some insured losses are no different.
LMA's Lee Elliston on taking action on delegated claims
The 300-year-old Lloyd's market is changing, says Lee Elliston, claims director, Lloyd's Market Association. The Target Operating Model has seen Lloyd's focus on boosting efficiency and bringing business benefits to market participants. Now the LMA is…
Insurers will not be forced to pass on whiplash savings
Insurers will not be required to pass on savings from whiplash reform to customers, but they will have to report what those savings are.
Blog: The gaping hole in the FCA regulation of CMCs
The Financial Conduct Authority’s consultation into claims management companies has a gaping hole, warns Kurt Rowe, associate at Weightmans, explaining why it matters for insurers.
IPT hike leads to £6bn tax windfall
The government collected £6bn from businesses as a result of the increase in the insurance premium tax, an increase of 22% on the previous year.
Farm safety: Fatal farms
Farming is the most lethal of all industries. The sector and its main insurer are trying to change rules and mentalities to make it safer
Insurers to be held to account over whiplash savings
A government amendment to planned personal injury reforms could see insurers have to prove to the regulator that they are passing on savings to customers.