Regulation
News Analysis
Briefing: New rules put AI in its place for actuarial use
After January 2024’s introduction of an industry-wide code of conduct for the use of AI in the claims sector, the actuarial industry is now following suit thanks to a regulatory update
News
Firms must embrace ‘cultural change’ to meet Consumer Duty requirements – FCA’s Graeme Reynolds
Cultural change is important when it comes to the regulation because ’the duty is not a once-and-done exercise’, says director of competition
News Analysis
Broker networks ramp up distribution focus
’The ability to gain distribution benefits is a major driver for brokers joining networks,’ says director of policy and public affairs
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News
What will the Autumn Budget hold for the insurance industry?
Measures announced by Chancellor Rachel Reeves at the end of October will undoubtedly impact on the insurance sector in a number of ways – but what are the biggest things to watch out for?
News
Biba calls for removal of larger commercial customers from scope of Consumer Duty
’This is an opportunity to achieve change and help improve the burden of regulation on members,’ says chief executive
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News
Biba calls on government to cut IPT rate in Autumn Budget
’The government has the opportunity to make some specific interventions to help ease the financial burden on customers and help with the issues that we are seeing,’ says chief executive
News Analysis
Briefing: What can the industry learn from the latest FCA value measures?
Insurance DataLab hazards an estimate at what other lines of business could face the same treatment as Gap insurance from the regulator
IT Interview
Chris Rolland: ‘Doing the right thing’ as a competitive advantage
’That flight to quality that we’ve seen across the insurance industry in the past few years has become more important, especially in travel insurance,’ says chief executive
News Analysis
Briefing: Affordability debate continues as risk, reinsurance and politics collide
The Labour party already has motor insurance premiums in its sight – but how long until home insurance starts to face the same level of scrutiny?
News Analysis
Briefing: Are you being served?
The role of the broker should be ‘to absorb complexity and convey simplicity’ – but today’s disconnect between customers and the profession provides a broadening challenge to achieving this aim
News
Insurer selects new distribution partner for Gap sales
’Gap is an important product for vehicle owners and we intend to ensure it stays that way,’ says owner
News
Building insurance complaints soar to record high
’Buildings insurance complaints have been steadily on the rise for some time,’ says director of insurance
News
MGA warns of ‘huge’ safety problems for tall buildings after Dagenham blaze
’A large proportion of the affected buildings are yet to be remediated, leaving thousands of people facing these risks every day,’ says underwriting manager
News Analysis
Briefing: FCA’s thematic review demands greater disclosure from industry
With claims service still flagging, the regulator has put its foot down in its latest report, claiming that the industry’s ‘failings have led to harm’
News
FCA probing another insurance market amid commission concerns
’We will act if we find that the market is not working well,’ says executive director
News Analysis
The Big Question: Where can the FCA streamline its rulebook in line with Consumer Duty linked review?
Insurance Times asks industry experts about where the FCA can simplify its rules to avoid duplication with Consumer Duty regulation
News
Government IPT revenues exceed £3bn for first four months of 2024/25 financial year
However, ’a reduction in IPT is unlikely at the Autumn budget,’ says head of insurance consulting
News Analysis
Briefing: Rampant regulation poses threat to D&O claim volume
Brokers must support company directors to ensure they are not ‘left to their own devices’ around incoming regulation, as implementation uncertainty can cause D&O claims
News Analysis
Rise in litigation funding puts insurers on high alert
Litigation funding has the potential to ‘drive bad claims further than they should go’, warns law firm partner
News
Regsearch rebrands AI proposition
The new name ’conveys the role of AI in risk and regulatory compliance tasks, tying directly to the Regsearch brand and enhancing our recognition and authority in the industry,’ says chief executive
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