Regulation
FCA reviews travel insurance for cancer patients
The Financial Conduct Authority has launched a public consultation to see if changes are needed to make it easier for people with cancer to get travel insurance.
Legal Update: When the discount rate isn't so accommodating
A negative discount rate can have negative consequences for claimants, writes Andrew Parker, head of strategic litigation at DAC Beachcroft.
John Griffith-Jones to leave the FCA
John Griffith-Jones, chairman of the Financial Conduct Authority is to step down from his role at the regulator next year.
Claimant lawyers resigned to future discount rate rise
Claimant personal injury solicitors expect the discount rate to move back up as a result of the government’s consultation.
This Week: Stoic London
The generosity and heroic nature of Londoners came to the fore this week, when after two recent terrorism attacks the city saw the worst fire in recent history. Firefighters were heralded for entering the 24-storey flaming building and the community came…
IBIS 2017: Softer Brexit becomes more likely following election
After Prime Minister Theresa lost her overall majority in the general election last week, a softer Brexit is more likely, said Thomas Lake, senior analyst, political risk at BMI Research.
Legal Update: The problem with delegated authorities
Do delegated authorities represent a short-term solution that is creating long-term problems? Jeremy Irving, partner at DWF, discusses.
How insurers can protect themselves against cyber threats
In the current cyber insecurity, insurers need to review their management structure and their risk processes to protect their data and their customer’s data, say Matteo Coppola and Ofir Eyal, partners at the Boston Consulting Group.
In Depth: The GDPR time bomb
The implementation date of the General Data Protection Regulation is less than a year off but the industry’s attention is elsewhere, with issues like Brexit, the General Election and the discount rate looming large on the horizon
EU gets go ahead to sign covered agreement with US
The European Council has approved the signing of the covered agreement with the United States that would harmonise insurance and reinsurance regulation on both sides of the Atlantic.
Motor Report: What's driving motor?
With trials of driverless car fleets now occupying our national roads, the motor sector is getting an upgrade like never before. As fraudulent claims continue to accelerate and while premiums pay the price, new entrants are causing insurers to tighten…
Why and how cross-selling works for microinsurance
Cross-selling is a great way to distribute microinsurance, as illustrated in Africa, where some farming insurance programmes are also experimenting with new ways to pay out claims, write Tom Johansmeyer, assistant vice-president at Verisk Insurance…
Solvency II ratios not comparable across EU and won't be used in ratings, says AM Best
Solvency II ratios will not be comparable across the European Union and will not be used in rating assessments, according to AM Best.
This Week: Menace, manifestos and managing general agents
There is a menace in my house in the form of water. First it caused problems in my kitchen (as many of you will remember) and now it's found its way out of the bathroom.
More scrutiny on Luxembourg captives ahead
With increasing regulatory scrutiny, managing a captive can become challenging. Protected cell companies offer a practical alternative.
Dacre Bleu: will the industry act after Daily Mail attack on insurer 'sharks' and 'pirates'?
Post content director Jonathan Swift reflects on the Daily Mail coverage of insurers reportedly ripping off loyal customers, and asks if beneath the tabloid headlines there lies a home truth the industry needs to act on?
Running off captives in Luxembourg: How to recover the equalisation reserve
A treasure awaits those holding the keys for unlocking Luxembourg’s main assets within the insurance industry. According to the regulator’s latest annual report, reinsurers have built up €9.3bn (£7.8bn) in equalisation reserves in the country.
Industry set against merger of EU insurer and bank regulators
Proposals to merge the European Insurance and Occupational Pensions Authority with the European Union’s banking regulator would damage the effectiveness of consumer protection and prudential oversight, according to Insurance Europe.
Claims aggregation: Joined-up thinking
The Supreme Court ruling in AIG has clarified the conditions under which claims can be aggregated, allowing insurers to reduce their exposure, but future cases will remain highly fact-sensitive
#BibaFever: B-B-Q: What brokers and insurers want from the next government
Delegates at the British Insurance Brokers’ Association conference have asked the next government for some stability.
LMA calls for discount rate change
The Lloyd’s Market Association has called for major changes to the way the personal injury discount rate is set.
Cameron: Cyber crime solution needs insurance industry input
The insurance industry and the UK government need to work together on cyber crime and travel risks, former Prime Minister David Cameron said in his keynote address to the British Insurance Brokers’ Association conference.
Zurich’s Guy Miller on why recovery is an opportunity for reform
A synchronised global recovery is an opportunity for reform, not for complacency, argues Guy Miller, chief market strategist and head of macroeconomics, Zurich.
Broker: Feeling exposed?
Many brokers’ professional indemnity policies contain exclusion clauses that limit their cover, leaving them and their customers exposed