News

PRA to consult on new rules to support struggling insurers

By Jon Guy 2023-02-10T12:20:00

financial regulation

The regulator’s aim is to clarify the support available to insurers when they hit financial difficulty

The Bank of England has launched a new consultation process on the steps insurers can take should they encounter financial difficulties.

Regulator the Prudential Regulation Authority (PRA) has also proposed new rules in response to the amendments introduced by the Financial Service and Markets Bill 2022-23 (FSM Bill) concerning insurers in financial difficulties, with firms having until the end of March to respond.

Read more… 

Explore more regulation-related content here or discover other news stories here

You need to register to continue reading the rest of this article and more for free.
(If you’re already registered, please sign in here.)

REGISTER NOW FOR FREE

We’re glad you’ve chosen Insurance Times as your source for industry news and hope you’ve been enjoying reading articles from our award-winning team of journalists.

Gain access to more of our exclusive, breaking stories, interviews and news analysis as it happens. Registering is quick, easy, free, and will also have the additional benefits:

  • Uncover Secrets: Dive deep with exclusive annual reports, fueled by expert insights.
  • News That Matters: Award-winning coverage & analysis, delivered to your inbox.
  • Stay Ahead, Your Way: Daily or weekly - choose your news rhythm.
  • Own Your Learning: Curate your knowledge with a personalized library.

Register for FREE now and Keep Reading

Stay on top of the insurance game with our subscription! Get unlimited access to over 80,000 articles, in-depth analysis, exclusive reports by industry experts, and our Five-Star rating system to compare companies and find the best fit for your business needs - view subscription options.