Regulation – Page 17
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Analysis
Hospitality group BI judgment could signal ‘flood of further cases’ ahead
Insurers could still face ‘potentially significant’ claims exposure around BI policy interpretations, despite intention of test case judgments
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News
Reich Insurance named in Parliament as MPs call for FCA regulation on commission fees
It follows the broker being hit with a forced commission disclosure order
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News
Mercedes to accept liability for accidents involving its new self driving tech
The car manufacturer will not accept blame where a driver has failed to take control of a vehicle when prompted, however
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Analysis
Briefing: Was the MoJ’s part two consultation response worth the bother?
With a five-year gap since the initial reform consultation and the OIC portal still posing functionality problems, has the MoJ taken the easy way out with its no change agenda for part two of the whiplash reforms?
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News
Government scraps building safety manager requirement in latest Building Safety Bill shake up
The Secretary of State now has the power to ’impose requirements about new build home warranties’
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Analysis
Insurance sector rallies around Ukraine
Insurance Times rounds up how the UK insurance industry has responded so far to the ongoing conflict
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News
MoJ unveils no change to credit hire and rehab in part two whiplash reform consultation response
The government will work with industry stakeholders to see whether arrangements such as the GTA should become mandatory, however the emphasis is on the ‘industry to keep its own respective houses in order’
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News
Government moves closer to axing controversial Vnuk law
The European ruling could have created extra costs of £2bn a year for the insurance sector
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IT Interview
Shirley Woolham: ‘Thematic response’ needed by claims sector to ensure OIC portal success
Law firm chief executive acknowledges that despite ‘issue after issue’ and ‘moaning’, the Official Injury Claim portal ‘is not going away’
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News
Online Safety Bill introduced to parliament
New measures have been introduced to push tougher criminal sanctions on tech bosses and data manipulation
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News
Ireland follows UK with home and motor price walking ban
The new law will come into effect from 1 July 2022 and exclude new customer discounts
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News
Lloyd’s slaps Atrium with ‘largest fine ever imposed’
The managing agent has accepted charges related partially to ‘inappropriate conduct’ at a ’boys’ night’
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News
Tribunal hits Reich Insurance with forced commission disclosure order
The order follows FCA warnings on the need for ‘fairness and transparency’ around broker fees and commissions
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Analysis
In Focus: Solvency II reform comes under scrutiny despite potential cost saving
Many industry commentators see post-Brexit Solvency II reform as an ’opportunity’ for insurers and shareholders, but could it leave policyholders paying higher prices? Insurance Times investigates…
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Analysis
Briefing: Sector collaboration is quicker and more certain solution to tackle spoof ads versus OSB
The insurance industry must work together to collate information and case studies if it is to prevent ad spoofing from ‘legitimising fraud’
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News
Industry backs Online Safety Bill’s new fraudulent advertising duty
Ofcom will be setting out further details for platforms
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Sponsored Content
Insurance prices remain uncertain following FCA rule change – Pearson Ham
Stephen Kennedy, director of insurance pricing at Pearson Ham, reviews how the FCA’s general insurance pricing reform is bedding in after coming into force from 1 January 2022
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Analysis
Opinion: Insurers still drowning in BI claims backlog
One year on from the FCA’s first publication of BI claims payment data, editor Katie Scott reviews the industry’s progress to date
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News
Government to impose sanctions preventing UK insurers and reinsurers covering Russian firms
The European Union has adopted a similar stance
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Analysis
Briefing: FCA shows its ineptitude with buildings insurance
The FCA has been warned on numerous occasions there was an issue, but it failed to act