Regulation
Solvency II: still dividing opinion in the insurance industry a year on
In light of Brexit, what will regulation look like in the future?
Editor's comment: Feeling lucky?
My Irish grandmother always said bad things come in threes. In the last 18 months the insurance industry has faced bad returns on investments, several increases to insurance premium tax and now the huge change to the Ogden discount rate, so the sector…
Roundtable: Tackling the start-ups
As traditional insurers partner with start-up tech companies, the landscape of insurance is changing. Start-ups pose less as threats hellbent on disrupting the industry and more as an opportunity waiting to happen. Post, in association with Mendix,…
LMA leads industry call for data protection law change
The Lloyd’s Market Association has coordinated an industry response calling for the Information Commissioner's Office to change its guidance over incoming data protection rules from the European Union.
In Depth: Ogden outrage – dismantling the discount rate
The decision to cut the Ogden discount rate for the first time in 16 years sent shock waves through the industry that will be felt for months and years to come.
Climate change: insurers feeling the heat
The global risk landscape is currently dominated by environmental upheavals caused by climate change. The resulting catastrophes are of concern to people in general and insurers, in particular, tasked as they are with underwriting and managing ever…
PRA plans fee for Solvency II internal model approval
The Prudential Regulation Authority has announced a proposal to introduce a fee for Solvency II full and partial internal model approvals.
Blog: The future of CMCs
Listening to the entirety of the Second Reading debate on the Prisons and Courts Bill last week, I was reminded once again of the pitfalls of short-sighted and ill-thought-out policy changes in the claims sector.
Trade voice: Navigating the new legal landscape
The legal landscape around the insurance industry and the claims sector is approaching a period of unprecedented change.
Nelson: Regulatory burden hampers Solvency II
The regulatory burden imposed upon insurers by Solvency II hampers a fundamentally good regulatory framework, Lloyd’s chairman John Nelson has said.
This week in Post: highs, lows and running with the wolves
It has been a week of highs and lows in our household. My son went on his first Cub sleepover and earned the honour of becoming a Sixer. I, meanwhile, returned to the X-ray machine.
WTW's Alastair Swift on why adapting is key to success
The broker landscape continues to evolve at an increasing rate and the industry is under constant pressure to adapt rapidly in order to keep up.
Malta will be biggest beneficiary of Brexit, says MPG
Malta will benefit more than any other financial centre in Europe from Brexit, according Managing Partners Group.
Blog: Mishcon ruling won't set solicitors' PI premiums rising
In the often challenging world of solicitors' professional indemnity insurance, the conveyancing field has long held a high-risk reputation due to its propensity for claims generation. Now a new lawsuit has hit the headlines, with the controversial…
Ogden rate change goes live at minus 0.75%
The Ogden discount rate changed today from 2.5% to minus 0.75% following the Lord Chancellor's announcement last month.
Blog: Whiplash reforms were supposed to be about fraud
There is something rather strange happening in the debate around the whiplash reforms. For all the sound and fury across the entrenched battle lines with which we are all familiar, there does appear to be a consensus forming across the divide.
Lloyds Bank's Bill Cooper on M&A in a challenging market
The government's recent decision to lower the discount rate from 2.5% to -0.75% took the market by surprise and generated many column inches of newsprint in the mainstream press.
MPs investigate whiplash claims
The Justice Committee is launching a short inquiry into whiplash claims and on government plans to raise the small claims limit for personal injury.
PRA to review Solvency II reporting requirements
The Prudential Regulation Authority is to conduct a review of Solvency II reporting requirements, in an attempt to ease insurers' reporting burdens.
Axa's Brendan McCafferty on the consequences of the discount rate
There must be a better time to start your role as the CEO of an insurance company. A few weeks into the job, I arrived at work on a Monday morning knowing a decision had just been made that would simultaneously hike premiums for millions of motorists and…
Blog: Ogden predicted a nasty surprise way back in 1984
The late Sir Michael Ogden might be chuckling somewhere at the recent discount rate events.
ABI's James Dalton on sorting out the discount rate mess
I am living the discount rate at the moment. I have lost count of the number of meetings I have attended, legal opinions I have read and conversations with insurance company CEOs I have had on this complex issue.
Blog: Insurers could regret whiplash reforms
In the end, the whiplash reform moved remarkably quickly. After 12 months of deliberating, we only had six weeks of consultation, followed by seven weeks of considering what to do. The tangible result was the compiling of seven hurriedly drafted clauses…
This week in Post: bags of losses
This week has been a tumultous one for me and the insurance market alike.