Regulation – Page 65
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NewsMuch at stake for insurers, brokers and policyholders as FCA test case kicks off
The ruling on this week’s test case could have profound reputational and economic implications for insurers and brokers alike
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NewsHow brokers are monitoring employee mental health with a home-working insurance industry
As many businesses in the UK continue to work from home during the Covid-19 pandemic, the mental health of staff that work remotely has been brought to light. Insurance Times looks at how broker bosses are managing the mental health of their employees.
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NewsOpinion: Will brokers end up as the BI fall guys?
Outcome of FCA business interruption test case eagerly awaited
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FeaturesFCA test case could be death knell for brokers’ PI cover if insurers win
Industry voices fear the fallout of the regulator’s test case on the broker PI market, predicting that it could become ‘a backstop for the entire business interruption industry’
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NewsInsurance industry backs government’s flood investment plans in fight against climate change
The insurance industry has commended the Department for Environment, Food and Rural Affair’s (DEFRA) record investment £5.2bn as it sets out long-term plans to mitigate flood risks against the backdrop of climate change. Many agree that a common goal must be established to reduce the damage caused by flooding.
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Online onlyBriefing: Aviva should avoid this strategic blunder
New Aviva chief executive Amanda Blanc faces one major issue that needs solving, but she is already facing distractions By content director Saxon East
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NewsAfrican-Caribbean Insurance Network berates insurers for lack of ethnicity pay gap reporting
Group calls for industry to commit to establishing data on their ethnicity pay gap, among other measures
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NewsFCA says insurers ‘have been adopting an unduly narrow approach’ for Covid BI claims
The regulator plans on using its test case to ensure business interruption claims are considered without the ‘inappropriate roadblocks that insurers have put in policyholders’ way’
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NewsInsurance industry BAME retention issue ‘down to culture’ – African Caribbean Insurance Network
The insurance industry has long had an issue with retaining black and ethnic minority staff and this is ”down to culture”, this is according to the African Carribean Insurance Network.
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NewsAfrican Caribbean Insurance Network reveals six steps to racial inclusion in London Market
The African Caribbean Insurance Network (ACIN) has revealed its six recommendations to boost racial inclusion in the London Market.
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NewsFlood Re endorses government investment and scheme changes
Flood Re has endorsed the government’s plans to invest in the UK’s flood resilience and the changes to the scheme.
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NewsThe Big Question July/August 2020: What lines of business will harden or be most exposed following Covid-19?
In Insurance Times’s July/August 2020 issue, we ask the insurance market which business lines they thought might harden and which might be the most exposed following the coronavirus crisis.
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NewsTrade associations report high engagement with GPAPs around dual pricing
Biba’s chief executive said the voluntary measures are ‘benefiting home and motor customers’
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NewsThe history (or mystery) of the broker remuneration debate
The debate recently resurfaced following a report from Mactavish which called out the broker model, but what is the history behind the debate?
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NewsABI chair and deputy chair extend contracts to serve full two-year terms
The current board leadership will remain in situ until the end of summer 2021
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NewsPool Re warns SMEs against bypassing the broker for terror cover
The broker is crucial to SMEs buying terrorism cover, but most businesses favour digital methods of purchasing this.
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NewsClimate change threatens Flood Re 2039 market exit target
By 2050 flooding annual losses are expected to increase by between 25-85%
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News AnalysisCoronavirus: B&B owner faces ‘timebomb of debt’ after BI claim rejected by AXA
The results from the FCA’s test case could come too late to save struggling SMEs that are facing daily financial hardship as a result of the Covid-19 pandemic. Insurance Times hears from Stamford House Bed and Breakfast about its claims experience and fears for the future
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NewsFCA rejects insurers’ defences for ‘adopting unduly restrictive meanings’
The regulator states that insurers failed to take into account that policyholders were, in the main, unsophisticated purchasers of insurance
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News‘Industry has a responsibility to respond’ if customers want digitised claims journey says Minster Law
’Covid-19 has released the virtual claims management genie from the bottle and there will be no going back’, says the law firm’s claims director
