Regulation
GDPR to boost UK cyber insurance take up, says Hiscox CEO
Incoming European data regulations will drive demand for cyber insurance in the UK, according to Hiscox’s CEO.
China's regulator wants insurers to help "stabilise" society
China's regulator the China Insurance Regulatory Commission is determined to continue its reform of the insurance sector.
Italian regulator places broker Ariscom into special measures
The Italian insurance regulator has placed broker Ariscom into special measures.
This Week in Post: Vnuk is a four letter word
When my toddler says ‘fox’, it sounds very rude. I mainly laugh at it but I’m also a bit scared that the next time she spots a fox in our local park, she will point at it, proudly shouting ‘F***! F****!’
Career Development: Axa latest insurer to sign Women in Finance Charter
Axa has signed the Women in Finance Charter.
Analysis: Monitoring medical misdeeds
Surgeon Ian Paterson went to prison in May for carrying out unnecessary cancer operations and this case has highlighted gaps in the insurance coverage of medical malpractice
UK government releases final ILS regulations
The UK government has published regulations that will introduce a competitive regulatory and tax regime for Insurance Linked Securities.
Analysis: Why cruise lines may find captives attractive
A captive insurance vehicle can be an attractive option for a cruise line, and Bermuda is a premier ‘home port’ for such vehicles.
Hong Kong regulator examines protection fund
Hong Kong's new regulator the Insurance Authority is working on a protection fund in the event of a collapse of an insurer in the Special Administrative Region.
Biba’s Steve White on keeping abreast with politics
Lobbying is a long game, writes Steve White, chief executive of the British Insurance Brokers’ Association, explaining why his trade body is cultivating its connections with both the government and the shadow cabinet.
Covered agreement given the go ahead from Trump administration
The Trump administration has announced that it will honour the covered agreement, which aims to create uniform rules dealing with insurance and reinsurance transactions between the United States and European Union.
Blog: Telematics should be a given
Telematics insurance has become much easier and cost-effective for brokers and insurers to offer, says Selim Cavanagh, vice-president, Insurance, at Lexis Nexis Risk Solutions UK & Ireland, arguing it should now be a given.
EU watchdog warns against 'letter box' post-Brexit hubs
Europe’s insurance watchdog has warned firms and regulators against setting up post-Brexit shell companies that delegate operations to parents in London.
Life is a breach: What the GDPR changes for insurers
Insurers will face stricter data rules but these may help them grow the cyber market, write Mark Estafanous and Kate Payne, solicitor and partner at Elborne Mitchell.
GDPR ‘a shot in the arm’ for cyber insurance
The incoming EU data protection regulation is likely to be a “shot in the arm” for the cyber market, resulting in a marked growth in cyber insurance revenues, according to AM Best.
Insurers must focus on cyber risk accumulation exposure: PRA
Insurers must get a grip on their cyber risk management to fully understand their cyber exposure, the industry watchdog has said.
Analysis: After Autofocus: Where next for the credit hire industry?
Last month, seven former employees of Autofocus were collectively given prison sentences of more than five years after being found guilty of doctoring hire rate evidence to defend insurers in court against credit hire companies in thousands of cases.
This Week in Post: Outdated and out of there
I was recently lamenting shortage of space in my toy-cluttered flat and a (childless) colleague mentioned the baby cages Victorian households used to hang out of their windows. “There were mercifully few deaths,” he joked, as I gazed at an online image…
Interview: Matthew Crummack, Go Compare
When Matthew Crummack took the driving seat at Go Compare a year ago this month, the business was in the midst of a demerger from parent Esure. The CEO of the price comparison site sat down with Ryan Hewlett to discuss his first year in the job, taking…
Group risk: A group safety net
With state benefits set at low levels, the safety net of group risk cover has never been more valuable. But although sales are creeping up, providers and advisers believe there is much more that could be done to grow the market
Government to introduce ILS framework in the autumn
The Government is to introduce a framework for Insurance Linked Securities before parliament with the hope of getting it up and running in the autumn, the Economic Secretary to the Treasury, has said.
Long-awaited Hong Kong insurance regulator begins
The Insurance Authority has taken over regulating the insurance market in Hong Kong today.
Marsh Networks’ David Hopwood on the seven issues a reduced discount rate creates for SME brokers
The Ministry of Justice’s decision to set a new discount rate for personal injury compensation awards at minus 0.75% seems likely to create turbulence in the market. Following widespread criticism, the government is currently reviewing feedback from its…
European captives showing strong capital positions in Solvency II disclosures: AM Best
European captives are showing “very strong” capital reserves in through reported Solvency II ratios, according AM Best.