Regulation – Page 25
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NewsFCA proposes updated guidance to support insurance customers in financial difficulty
The regulator is aiming to solidify its stated support for consumers struggling with the cost of living crisis, says executive director for consumers and competition
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NewsFCA’s Consumer Duty causes apprehension among majority of brokers – Ecclesiastical
Nearly three quarters of brokers said the ramping up of regulation was overwhelming
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NewsIUA publishes business plan for 2023
The association has highlighted key challenges for the London Market in the coming year
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News AnalysisOpinion: Industry will need to continue to knuckle down in 2023
Editor Katie Scott summarises some of the year’s key challenges and what the industry may expect come 2023
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NewsFCA to clamp down on insurers avoiding fair value claim payments
The regulator has seen evidence that some claimants are being offered prices lower than their vehicle’s true market value following claims
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NewsAndy Holmes: Cyber will be the biggest risk code for Lloyd’s in 2023
CFC’s chief underwriting officer says cyber insurance has started ’to grow up’, but balancing regulation and value propositions is tricky
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NewsMoJ accused of failing to address whiplash reform challenges
Industry commentators are still concerned that there is ‘a huge gap in public knowledge’ about the Official Injury Claim portal’s existence
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News AnalysisInsurance industry backs calls for enhanced flood infrastructure programme
Industry commentators approve of recommendations to tackle the ‘inherently uncertain and difficult to predict issue’ of surface water flooding in the UK
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NewsGovernment steps in to address cladding cover shortage for assessors
The five-year scheme sees the government liaise with an MGA, reinsurer and technology provider to address protection gap
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News AnalysisBriefing: Autumn Statement is not all good news for insurers
Insurers with international operations or that work from the London market may face an uphill struggle when it comes to implementing the government’s new Solvency II requirements
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News AnalysisWhat will new regulations for appointed representatives mean for the industry?
The new AR regime is essentially ‘devolved regulation’, says managing director
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NewsUK government sets out final reform plan for Solvency II
The chancellor has confirmed that the risk margin for general insurance businesses will be lowered by 30%
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NewsAmazon’s online insurance store – what does it mean for the industry?
The FCA has already taken note of the potential for big tech players to disrupt the insurance market
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NewsCadbury owner settles legal battle with Zurich over $100m NotPetya cyber claim
The debate around state-backed cyber attacks has progressed due to the Russia-Ukraine conflict, highlighting the need for ‘proper’ cyber cover
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NewsCurrent solvency capital requirements not limiting investment from general insurers – GlobalData
The UK government will need to ‘encourage’ or ‘incentivise’ firms to invest more capital if it decides to relax regulations, says senior insurance analyst
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NewsFCA proposes new rules to intercept greenwashing
The regulator’s consultation on the proposed changes will be open until 25 January 2023
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NewsFCA exploring big tech firms’ potential to ‘disrupt established markets’
The regulator’s move follows the launch of Amazon’s home insurance store last week
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NewsInsurers welcome High Court decision in Stonegate Group Covid-linked BI case
The pub and restaurant business is planning to appeal aspects of the court’s decision, while insurers have called the judgment ‘a positive outcome’
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News AnalysisBriefing: Uncertainty - The new insurance buzzword
Being proactive around market trends and data insight is the only way to stay ahead in today’s insurance industry
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News‘Continued, significant problems’ persist with OIC portal – Carpenters Group
The portal has performed ’far below even the most pessimistic expectation’, says law firm director
