Regulation – Page 6
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News AnalysisGibraltarian insurers still reporting lower solvency positions than UK
With the Insurance Times Top 50 Insurers report out this month, data provider Insurance DataLab takes a look at the solvency positions of insurers across the UK and Gibraltarian insurance markets.
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NewsBiba welcomes new leasehold buildings insurance reforms
’The statement coincides with extensive new work Biba has commissioned to help members better demonstrate fair value,’ association says
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NewsFCA confirms leasehold buildings insurance reforms
’Our reforms will help to strengthen the insurance market by providing new protections for leaseholders,’ says executive director of consumers and competition
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NewsOnline Safety Bill ‘imperative’ to protecting consumers from fraud – Aviva
’Online fraud has drastically undermined consumer trust in financial services,’ says head of claims counter fraud
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News AnalysisBriefing: Is the commission model of remuneration under threat?
The insurance industry finds itself in a defining moment, says Stuart Reid
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News AnalysisBriefing: FCA comes out swinging for insurance outliers
The regulator has placed Gap insurance firmly in its crosshairs – but that is no let off for the wider sector
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NewsFCA to clamp down on ‘outliers’ in cyber insurance market
’We are concerned that uncertain cyber policy wordings may result in firms not meeting their customers’ needs,’ says regulator
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NewsOnline Safety Bill is now set to become law – this is how it will tackle online fraud
Ofcom will be largely responsible for enforcing the bill
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News AnalysisBriefing: Could R&D tax credit error and fraud be the next PPI scandal?
R&D tax relief is supposed to help insurtechs, startup brokers and SMEs claw back costs invested in innovation, but this initiative has been ’abused’ to some extent
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News AnalysisOpinion: With great power, comes great responsibility
The insurance sector must accept a responsibility to stay out of political decisions, argues Yiannis Kotoulas
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News AnalysisCould the debanking scandal cross over into insurance?
The FCA said that it ’would not consider it appropriate to cancel a policy purely on the basis of a policyholder’s views’
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NewsBiba calls for ‘no further increases’ to IPT rate as record revenues reached
The trade body has also called for ’an exemption on premiums for impaired high rise, multi-occupancy buildings’ awaiting remediation, says head of GI
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NewsDXC Technology and Lloyd’s managing agency ink partnership
The partnership places the Lloyd’s managing agency in ’the best position possible to adopt and integrate modern technology,’ says chief executive
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NewsDirect Line Group agrees to business review after overcharging customers in FCA first
’DLG will carry out a review to identify all instances where a customer has been overcharged,’ says FCA
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News AnalysisInsurance firms ‘pivot’ towards front-facing and operational technology
’As firms strategise for 2023 and beyond, the integration of technology and the addressing of skill gaps will likely be at the forefront of their agendas,’ says chief executive
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News AnalysisIn Focus: How are motor insurers addressing popularity of electric vehicles?
Insurance Times asks industry experts if motor insurers are adapting their business strategies
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News AnalysisBriefing: Financial lines brokers must watch out for increased scrutiny of ‘finfluencers’
Brokers’ experience of compliance with Consumer Duty makes them well-placed to advise financial clients on the risks of not complying with upcoming regulations
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NewsInsurers have ‘responsibility’ to boost brokers’ cyber cover knowledge
’Cyber is still relatively new for any broker,’ says general manager
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News AnalysisAI can ‘turbocharge’ the UK insurance sector – NTT Data
’AI provides the ability to personalise the insurance jargon and output in a way that the recipient of communications will understand,’ says industry development lead
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NewsTrudgill issues FCA plea as Consumer Duty regulation comes into force
Chief executive says this is ’one of the most significant pieces of regulation there has been’
