Compliance
Airmic to have global compliance database ready by September 2013
Airmic is to create a final version of its industry-backed global compliance database by September 2013.
FSA slams RBSI for ‘unfair’ pet terms
The Financial Services Authority has told RBSI to cease using a term in its Direct Line pet insurance that it suggests may be unfair and has reported the insurer to the Office of Fair Trading.
Global compliance database gets go ahead
London market movers have put aside concerns over competitive advantages to build a jointly owned compliance database for global insurance programmes, providing details of regulations on a territory-by-territory basis.
FSCS funding review ro recommence as brokers push for separation
Brokers could secure separation from insurers and bankers as early as April 2013, with the British Insurance Brokers’ Association focusing its efforts on the reopened Financial Services Compensation Scheme funding review.
News analysis: Insurers urged to negotiate with FSA as Solvency II confusion continues
The FSA has announced a delay to Solvency II but getting clarity remains a priority for government and insurers.
Editor's comment: Overcoming the barriers
If there’s one thing we can say for sure this week, it’s that the latest round in the subrogation set-to over disputed motor repair bills will not be the last.
View from the top: An endangered species?
UK-domiciled Lloyd’s brokers are under significant pressure. It’s always been a tough market, but the increased use of broker requests for proposals and unsolved inefficiencies are squeezing the London community further.
Antares appoints new compliance chief
Lloyd’s insurance firm Antares has named Lucy Peake as its new compliance manager.
Risk update - Asbestos: Kept safe from harm
With the European Commission ordering the UK to amend legislation to ensure maintenance and repair workers are fully protected from asbestos, John Toms investigates the implications for the insurance industry.
Lloyd’s – China: Chasing the Chinese dream
As the world’s second largest economy, China is a tempting opportunity for insurers. Leigh Jackson reports on the key role being played by Lloyd’s, the difficulties in gaining traction and the reality checks on expectations.
ABI biennial conference: Insurers urged to find ways to interact with customers
Insurers must find ways of addressing their lack of direct contact with personal lines customers if they are to improve loyalty and service.
Ecclesiastical appoints director of group internal audit and compliance
Ecclesiastical has announced the appointment of John Schofield as its director of group internal audit and compliance.
View from the Top: No need for European consumer collective redress
The European Commission is continuing to push for a system of collective redress for consumers that would allow a type of class action litigation.
Airmic 2011: Best practice guide to global compliance
Insurance buyers can now benefit from best practice advice to prevent them falling foul of the "labyrinth" of global insurance compliance rules. The guide, published this week, sets out key questions with which to road-test insurance programmes and help…
Interview - Paul Taylor: Relishing challenges
With a career that has spanned the globe, new Airmic chair Paul Taylor wants to push risk management up the agenda. He talks to Lynn Rouse about his upcoming tenure.
Airmic 2011: Global insurance compliance is fastest-rising concern
The compliance of global insurance programmes is the fastest-rising concern amongst Airmic members, according to the result of the risk management association’s latest survey, ranking second only to reputational risk as their main worry.
Airmic 2011: A guide to international compliance obligations
A guide to help members ensure their insurance programmes comply with international regulations and tax rules has been published by Airmic.
European insurers call for Solvency II non-compliance fines
European insurers would like to see the European Insurance and Occupational Pensions Authority fining regulators where Solvency II is not applied equally across the European Union.
Editor's comment: hard work starts here
The British Insurance Brokers' Association must be feeling pretty vindicated and pleased with itself right now — and justifiably so.
Disappointment over 10% increase in FSA funding
The insurance market has expressed disappointment at a 10% increase in the Financial Services Authority's funding requirements during 2011/2012.
Why US Federal Excise Tax matters to Europe
The US Internal Revenue Service is keen to combat tax evasion and is tightening its federal excise tax enforcement procedures. Asher Harris looks at affect FET has on European insurers doing business with US firms and the resultant cascading effect.
Aviva seeks to double online
Aviva has unveiled plans to double the volume of business conducted through its commercial e-trading broker platform.
Consolidator bids down from 49% to 31% in 2010
Regulation, compliance and organic growth are the most important issues facing brokers, according to a survey from Datamonitor.
BCIS offers free pilot
ReAssess, a new tool to help insurers more accurately assess their reinsurance needs has been launched by The Building Cost Information Service of the Royal Institution of Chartered Surveyors.