Regulation – Page 42
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Sponsored ContentBusiness interruption ‘lets mind our language’ – Gallagher Bassett
The insurance industry has had a challenging time during the pandemic, not least because of the fallout over business interruption cover, Gallagher Bassett’s director for loss adjusting and claims consultancy, Gordon Vater says one way to rebuild trust is to make more of what the industry has done well
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FeaturesBrokers set to be ‘squirming’ as FCA fixates on product value
Large insurers and price setting brokers ’have got a lot of work to do’ ahead of the GI pricing reform implementation deadlines, says compliance expert
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NewsGovernment confirms Solvency II reform to provide ‘more proportionate and flexible’ regulation
HM Treasury has announced that a reform package will be ‘implemented as soon as possible’
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NewsChange isn’t easy, but it needs to start now – Flood Re
Despite the efforts to support victims of the Doncaster flooding, insurers are still getting it wrong, says expert panel
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FeaturesBriefing: Fair value ‘fault line’ underpins FCA’s GI pricing proposals
The FCA may have ‘unleashed the concept’ around fair value, but now firms have to interpret this and embed it within their business practices, which isn’t an overnight job
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NewsInsurance industry backs EC decision to scrap Green Card requirement for UK drivers
The ABI, MIB and Biba have welcomed the news after long campaigning for it to be scrapped
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NewsSingapore watchdog plans ‘further review’ of Aon-WTW merger
The statutory board fears there will be limited alternative providers available that are able to compete effectively in Singapore
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NewsHiscox reaches settlement with BI action group
The settlement is in line with the Supreme Court judgment
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NewsMotorsports to become exempt from EU’s Motor Insurance Directive
The first formal proposal to revise the MID in motorsport’s interests came in 2018
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NewsDavid Amess: Sustainable energy agenda poses ‘major challenge’ to fire safety risks post-Grenfell
The MP is calling for another review of the building safety reform process because ‘fire safety has not kept pace with developments in building design’
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NewsProposal for ePrivacy Regulation could hamper telematics insurance
The updated regulation ’should include a legal basis for the collection of data from terminal equipment’ added law firm partner
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NewsUK P&I Club and Suez Canal Authority reach deal to release Ever Given vessel
The businesses are now working together to finalise formalities for a signed settlement agreement
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FeaturesBriefing: Time is running out for summer festivals seeking Covid inclusive event cancellation cover
A new report by the Public Accounts Committee recognises that festivals are facing a ‘survival threat’ without adequate insurance for Covid-linked event cancellation
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News‘Risk exposure changes’ driven by changing Covid-19 lockdown measures – IFoA
The Institute and Faculty of Actuaries (IFoA) has highlighted a further challenge for general insurance pricing - how ongoing lockdowns should be considered within risk rates going forward
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FeaturesIn Focus: How will insurers take the BI test case ruling forward post-pandemic?
Industry experts debate how insurers might apply the FCA’s business interruption (BI) test case ruling in a post-pandemic era, as July marks one year since the High Court’s virtual hearing
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NewsSuez Canal Authority claim hearing potentially adjourned after ‘long and arduous’ negotiations
The ship’s indemnity insurer is hoping to “take the necessary time to reach a final and amicable solution that satisfies all parties”
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NewsAon-WTW merger allows for ‘combination of complementary solutions’ – GlobalData
The data and analytics firm disagrees with the US Department of Justice’s stance that the acquisition would result in higher prices, reduced quality and less competition
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FeaturesBriefing: Test case was tip of the iceberg as insurers continue to wade through BI claims
Time flies when your claims function is inundated with business interruption claims – this week marks a year since the FCA’s initial test case hearing
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FeaturesIn Focus: Broker litigation ‘inevitable’ one year on from FCA’s BI test case
Brokers are ’still squeaky about whether they advised their customers correctly about the products they were buying’
