- Practice Areas
- Publication Type
- Resources
- Practice Areas
- Publication Type
- Resources
- Home/Publications/Insurance Regulation & Accounting
IASB paper whips up industry
Although the IASB discussion paper on accounting for insurance contracts contains a lot of useful consideration of the issues there is a long way to go in turning it into a practical solution, says Neil Coulson, a partner with accountancy firm CLB Littlejohn Frazer
Online Published Date:
01 January 2008
Appeared in issue:
56 - 01 January 2008
Coming your way…
IR&A’s
timetable is regularly updated to cover as many new developments as possible while also keeping an eye on events as they unfold. The first table incorporates the FSA’s agenda for consultations, discussion documents, thematic work or events of interest to insurers for the year ahead and beyond. while table 2 looks at other developments in the UK, Europe and internationally.
Online Published Date:
01 January 2008
Appeared in issue:
56 - 01 January 2008
Same difference?
A picture is slowly emerging of how Solvency II will affect UK-regulated insurers and reinsurers. Their position is different from the rest of Europe as they already have a regime of risk-based regulation. Does this give the UK industry a competitive advantage, or does it just mean another set of hurdles to jump? Mike Wilkinson of EMB discusses the issues that management will have to consider.
Online Published Date:
01 January 2008
Appeared in issue:
56 - 01 January 2008
One step forward, two steps back
For years the NAIC has overseen the lively debate over collateral charges on alien reinsurers – but could the long-running saga over reform be taken out of its control? Lawrence H. Mirel, a partner at US law firm Wiley Rein LLP, returns to IR&A
to comment on all the latest developments with his head in his hands!
Online Published Date:
01 January 2008
Appeared in issue:
56 - 01 January 2008
General insurers’ ARs failing standards, FSA
Sales of general insurance products were found to have some of the worse standards of treating customers fairly during a recent regulator review of appointed representatives. The Financial Services Authority (FSA) said firms generally need to do..
Online Published Date:
01 January 2008
Appeared in issue:
56 - 01 January 2008
Industry key to regulatory harmonisation momentum, survey
Insurers must convert their demands for more international harmonisation of insurance regulations into action, according to law firm Norton Rose which found in a recent survey that over 90% of respondents from major regions believe greater..
Online Published Date:
01 January 2008
Appeared in issue:
56 - 01 January 2008
IFRS approach “closely in line” with Solvency II, Ceiops
Ceiops has argued that the two major regulatory changes facing insurers – Solvency II and IFRS Phase II – are heading in the same direction, addressing concerns that the development of the two projects are out of sync. In a formal..
Online Published Date:
01 January 2008
Appeared in issue:
56 - 01 January 2008
Lloyd’s syndicates to continue with UK GAAP
Lloyd’s has ruled out considering the adoption of international financial reporting standards (IFRS) for syndicate annual reports until the final Phase II insurance standard takes effect, which under the current timetable will not be before..
Online Published Date:
01 January 2008
Appeared in issue:
56 - 01 January 2008
FSA will not mandate commission disclosure…for now
Commercial insurance brokers will not have to disclosure commissions to their customers as a matter of course, the Financial Services Authority’s (FSA) review has concluded, but the regulator said it cannot ignore concerns about transparency..
Online Published Date:
01 January 2008
Appeared in issue:
56 - 01 January 2008
FSA holds fire on disclosure
Cost analysis rules out mandatory commission disclosure but the FSA keeps option alive
Online Published Date:
01 January 2008
Appeared in issue:
56 - 01 January 2008
US states split over collateral
Florida and New York go their own way after NAIC reforms change direction
Online Published Date:
01 January 2008
Appeared in issue:
56 - 01 January 2008