Regulation – Page 35
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NewsPool Re warns of ‘potential terrorist threat’ to retail and hospitality sectors as lockdown lifts
The government is considering new legislation called a ‘protect duty’ that puts greater responsibility on business owners and operators
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NewsLockdown lifting set to spark crash for cash induced collisions – Ageas
The insurer’s claims director says that as lockdown has made it harder for these scams to occur, there could be a spike when restrictions lift
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NewsBroadway Insurance Brokers warns holiday makers against ‘amber gambling’ with travel insurance policies
Broadway Insurance Broker’s director of private clients says this is the next phase of the fallout following business interruption claims
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News‘More mea culpas for insurers’ expected after FCA fines Lloyd’s Bank General Insurance £90m
Insurance software firm believes ’insurers have been lazy in their efforts to build loyalty and improve retention rates’ and that an ’altogether new approach to customer loyalty is needed
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NewsHiscox pays out more than £5.2m of Covid BI claims following specialist broker settlement
More claims are yet to be finalised, but policyholders include British nightclubs and other live event music venues
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NewsFPCs and ‘Build Back Better’ approach can support communities struggling with flooding – Flood Re
Due to the detrimental impact of flooding on socially vulnerable and ethnic minority communities, the insurance industry ‘must support the roll out of Build Back Better’
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FeaturesBriefing: Aon-WTW merger still hitting snags amid broader consolidation landscape
Aon still has its work cut out for it if it wants to complete its purchase of Willis Towers Watson and mitigate market competition worries – however, will competition concerns increase across the piece as a result of the recent consolidation uptick?
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NewsFCA commits to being ‘tough, assertive’ and a ‘proactive regulator’ in its latest business plan
Chief executive vows the regulator will be ‘fit for purpose’, highlighting priorities such as consumer duty proposals and tackling fraud, as well as supporting net zero targets and D&I
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FeaturesBriefing: What five SME products could come under the FCA’s fair value microscope?
The first deadline surrounding the FCA’s general insurance pricing reform is approaching fast - insurers and brokers must consider the implications on SME products if they haven’t done so already
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NewsInsurers have paid more than £875m in interim and final BI payments this year
The FCA calculates that 23,933 policyholders out of 40,531 who have had BI claims linked to the test case action accepted have received at least an interim payment so far
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NewsNew Zealand’s antitrust watchdog considers Aon’s proposed divestments ahead of WTW merger
The Commerce Commission is set to deliver its decision on 20 August as to whether it will approve the acquisition
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NewsEuropean Commission approves Aon-WTW merger subject to divestments
The European body agrees to Aon’s proposals to sell off businesses to Gallagher in order for WTW merger to go ahead
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IT InterviewGeneral insurance ‘isn’t a static industry’ – Aviva’s Winslow
The insurer’s new chief executive of UKGI shares the latest trends that he is keeping an eye on and explains why the industry has ‘to be very forward thinking and future focused’
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NewsFCA issues £90m fine to LBGI for misleading home insurance communications to customers
Home insurance customers were told they were receiving a ‘competitive price’ or ‘discount’ for loyalty at renewal, however this language was not substantiated
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NewsCII backs regulators’ plans to overhaul diversity and inclusion in financial services
The regulators’ discussion paper is open until 30 September 2021 - any feedback and data received will be used to develop detailed proposals around D&I
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FeaturesBriefing: Solvency II and GDPR face big shake up amid Tory post-Brexit war cry
MP Iain Duncan Smith leads the charge on radical post-Brexit insurance plans
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FeaturesFire safety reform and PI withdrawal creates ‘existential moment for the insurance industry’
Four years on from the Grenfell Tower fire, industry experts debate the draft Building Safety Bill and what has been done so far to address fire safety
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NewsUK government publishes long-awaited Building Safety Bill
Despite the bill being welcomed, insurance industry leaders highlight concerns for buildings under 18 metres tall as ‘fire does not respect arbitrary height limits’
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NewsMMC must not be confused with combustibility
The Grenfell Tower fire ‘underlined some of the systemic failings’ within the construction sector and highlighted the danger of combustible materials being used in building works
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NewsMark Farmer: Insurance and construction sectors ‘need to get closer together’ on MMC
Underwriters must work with construction businesses to understand how modern methods of construction aim to eliminate randomised and systemic risks
