Regulation
MGA looking to redomicile to Ireland following Brexit vote
A Kent-based intermediary has said “all options are open” following a Brexit vote, as its parent company CBL Insurance said the firm could redomicile to Dublin.
New passporting agreement with EU ‘will be straightforward’
Brexit will have little impact on the financial services sector and a workable agreement with the European Union will be “straightforward”, according to Managing Partners Group.
Brexit: Gender directive too costly too reverse claims AA
The prospect of gender equality for motor insurance being overturned has been raised and dismissed in the wake of UK voters electing to leave the European Union.
Brexit: Solvency II likely to remain says PWC
Solvency II will "almost certainly remain" according to PWC despite the UK voting to leave the European Union as too much time, money and effort has been invested in it and the regulation is enshrined in UK Law.
Blog: Don't rest on your SIMR laurels
After the flurry of activity ahead of the various Senior Insurance Managers Regime deadlines, some firms might have concluded that implementation is complete and it is now possible to relax into business-as-usual mode. However, major ongoing and future…
C-Suite Insurer: Ageas' François-Xavier Boisseau on why the Insurance Act will be a giant leap for insurance
Commercial insurance law is entering a new era of clarity
Video: Improving access to justice
The review into add-ons by the Financial Conduct Authority has pushed legal expenses insurance into the spotlight.
PRA approves Direct Line’s Group-wide internal model for Solvency II
Direct Line has confirmed it will use its group-wide partial internal model to calculate the Group Solvency Capital Requirement under the Solvency II regime, following approval from the Prudential Regulation Authority.
Zurich, Vnuk and broker commission in the news; new Airmic chair interviewed
Insurance news and Post exclusives of the past week, in case you missed it
Proposed changes to key EU motor directive praised but work continues for industry
The European Commission's third option to change the definition of vehicles in the Motor Insurance Directive is the UK industries preferred option but lobbying by trade bodies needs to continue to ensure this outcome.
North of the Border: Key differences on the Insurance Act
The landscape of Scottish law will feel quite familiar to someone who deals primarily in English law but can be a trap for the unwary where it differs
Blog: Solvency II accelerates competitive rethink
We're now a number of months into the Solvency II regime and the sky hasn't fallen in. But the scale of the compliance demands is providing fresh fuel to the debates within many businesses about whether they could compete more effectively without the…
Blog: TPT was never going to be enough
No one said the transition to Solvency II reporting was going to be easy, particularly the requirement for insurers to provide detailed look-through data on their investment portfolios. But, having witnessed the beginnings of this new regulatory…
Blog: How insurers are coping with Solvency II
Solvency II came into force on 1 January, establishing a revised set of capital requirements and risk management standards. Despite the long build-up to the implementation, several last-minute changes left much of the industry scrambling to prepare for…
EC looks to define 'motorised vehicles' in MID to solve Vnuk exemptions
The European Commission is considering reviewing the definition of motorised vehicles in the Motor Insurance Directive to help avoid the need for vehicle exemptions following the Vnuk ruling.
ABI warns of changes to broker commission
It is “only a matter of time” before regulators start to make broker commission more transparent, the Association of British Insurers warned today.
Airmic 2016: Risk managers concerned about broker conflicts of interest Airmic survey finds
Risk managers are increasingly worried about broker conflicts of interest and broker-controlled capacity according to the annual Association of Insurance and Risk Managers survey.
Digital: Snooping in the age of social media
The access that private and public bodies have to our personal data has been a continual point of debate in the electronic age and the current passage through the Houses of Parliament of the Investigatory Powers Bill is a case in point
C-Suite Insurer: LV's Euros Jones on why commercial insurance needs agility
Insurers must strengthen broker relationships and adapt their solutions for customers in order to survive
Revealed: FCA and PRA unprepared for a Brexit
The industry’s two main regulators have not carried out any formal review of the potential impact of a Brexit, an investigation by Post can reveal.
Blog: Enterprise Act - how other jurisdictions have dealt with late payments
The absence of a right to damages for late payment of claims in English law was based upon a legal fiction that the insurer's obligation is to hold the policyholder harmless against the insured peril, and any recovery under the policy constitutes damages…
Interview: Clive Clarke, Airmic
Incoming Airmic chair Clive Clarke talks to Burhan Khadbai about his journey to the role and the key issues facing the risk management and insurance communities
Editor's Comment: Are you in or out?
I’m a floating voter. I don’t consistently vote for the same political party.
Government accepts Insurance Fraud Taskforce recommendations
The government has accepted the recommendations it has been given by the Insurance Fraud Taskforce and has called for the whole industry to tackle the issue.