Regulation
China to increase life insurers' foreign ownership cap
The Chinese government has announced its intention to lift foreign ownership limits on domestic life insurers.
FCA launches wholesale broker sector market study
The Financial Conduct Authority has launched a market study “to assess how competition is working” in the wholesale insurance broker sector.
Editor's comment: Fashion is fickle
Fidget spinners, dabbing and the bottle flip are just three of the crazes that my son brought home from school during the last academic year. Luckily for me, unlike Pokémon - which has been in our house for three full years now - these were short-lived…
Insurers hit out at FSCS consultation
The Association of British Insurers has hit back at proposals from the Financial Conduct Authority that insurers contribute towards costs of intermediary failure under the Financial Services Compensation Scheme
International: Trade credit demand is up
European political instability and financial regulations are pushing demand for trade credit cover, especially from banks that are keen on optimising their capital.
Lloyds Bank's Bill Cooper on the attraction of illiquid investments
The protracted low interest rates and poor profitability could make illiquid assets increasingly attractive for insurance investors according to Bill Cooper, managing director and global head of insurance at Lloyds Bank Commercial Banking.
Legal: Driverless cars, shifting liability
Kennedys partner Rachel Moore analyses the liability shift autonomous vehicles are operating in motor insurance.
This Week in Post: Red suns and robots
A Blade Runner mist engulfed London on Monday as storm Ophelia blew Saharan sand into the capital. Struck by the eerie atmosphere, City workers tweeted pictures of the yellow sky, which an Irish commentator promised to look at “as soon as our houses land…
Brightside's Mark Cliff on the impact of the discount rate for brokers
Insurers have been vocal about their feelings about the discount rate but Mark Cliff, executive chairman at Brightside Group, notes this has also affected brokers, who have been at the sharp end of market turmoil.
Aviva's Paul Heybourne on driving undisturbed
With technology rapidly changing what cars look like, Paul Heybourne, head of innovation operations for Aviva, maps the motoring landscape of the future.
Analysis: Cyber threats and opportunities
Businesses are opening themselves up to online exposures every single day. What do companies and insurers need to do to bring themselves up to speed with these new risks and incoming regulations affecting this area?
Analysis: Arson: A burning issue
Only a small portion of arson cases are prosecuted, so perhaps it’s time for the insurance industry to take ownership of this issue, as it has with fraud
Ogden reform could see fewer shocks to industry
Ogden reform could see fewer shocks from discount rate changes in future, AM Best said.
Foil's Nigel Teasdale on engaging with Europe after Brexit
The UK's Brexit Withdrawal Bill is making its way through parliament but Nigel Teasdale, president of the Forum of Insurance Lawyers and partner at DWF, believes this will make interactions with the European Union even more important for the insurance…
EU and US sign covered agreement
The European Union and the United States has today signed the so-called covered agreement on prudential reinsurance measures.
Bye Guevara: How Gibraltar no-go signalled the end for insurtech start-up
Earlier today an email dropped into my inbox confirming what many had suspected for a while, the insurtech start-up Guevara was no more.
The ABI's James Dalton on why the discount rate is not a job done yet
Insurers scored a victory on the discount rate but still have work to do, says James Dalton, director for general insurance policy at the Association of British Insurers.
Legal Update: Child abuse claims expected to rise in Scotland
The limitation for childhood abuse will be lifted next month in Scotland, writes Graeme Watson, partner at Clyde & Co, urging insurers to brace for a surge of claims.
This Week in Post: A new world of data awaits
I often find myself targeted by banner ads ranging from pizza takeaways, to – inexplicably - elderly toilet aids.
Manchester Underwriting's Charles Manchester on Grenfell and PI
Manchester Underwriting CEO Charles Manchester examines the possible knock-on effects of the Grenfell Tower tragedy on the professional indemnity market.
Ageas' Andy Watson's wish list for returning MPs
As goverment returns to business, Andy Watson, CEO of Ageas UK, reminds MPs that there are still three major areas of policy affecting insurance that need to be properly addressed before insurers can begin to control and then reduce customer premiums.
Covéa's Lisa Meigh on why the apprenticeship levy is not just another tax
Many companies have written off the apprenticeship levy that came into force in April as another tax but Lisa Meigh, director of HR and Learning at Covéa Insurance, sees a pot to further future generations of insurance workers.
This Month in Post: Discount, diversity and data
There was some good news and some bad news this week for the insurance industry.
Insurers rejoice at new Ogden formula on Twitter
Insurers took to Twitter to express their satisfaction with the new mode of calculation for the discount rate, which the government unveiled today.