- Practice Areas
- Publication Type
- Resources
- Practice Areas
- Publication Type
- Resources
- Home/Publications/Insurance Regulation & Accounting
Airmic publishes own fee guidance
The Association of Insurance and Risk Managers (Airmic) has updated its guidelines to members on their dealings with insurance brokers. The guidance, which now includes detailed guidelines on conflicts of interest, is said to go further than recent..
Online Published Date:
15 June 2009
Appeared in issue:
73 - 01 June 2009
Government-industry forum warns against “regulatory over-reaction”
A government-appointed industry panel has said new rules drafted in response to the financial crisis should be directed at specific problem areas of the financial services community and not at sectors, such as insurance, that have been less-affected..
Online Published Date:
15 June 2009
Appeared in issue:
73 - 01 June 2009
Insurance CEOs unhappy with solvency regulation, survey
Chief executive officers of major insurers and reinsurers surveyed by the Geneva Association say that they are not happy with the current progress of solvency regulation. Some 54% of CEOs expressed their dissatisfaction with solvency regulation,..
Online Published Date:
15 June 2009
Appeared in issue:
73 - 01 June 2009
IAIS calls for urgent financial instrument standard
International accounting setters must establish a single set of accounting standards for financial instruments as soon as possible, the International Association of Insurance Supervisors (IAIS) said. The association made a direct plea to the..
Online Published Date:
15 June 2009
Appeared in issue:
73 - 01 June 2009
CRO Forum looks at insurers’ response to financial crisis
The CRO Forum has published its analysis of the financial crisis, and lessons relevant for insurance company risk management. The paper, “Insurance Risk Management Response to the Financial Crisis” highlighted five responses to the..
Online Published Date:
15 June 2009
Appeared in issue:
73 - 01 June 2009
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 is dedicated to the FSA’s agenda for consultations, discussion documents, thematic work or events of interest to insurers for the rest of the year. A second table lists developments elsewhere in the UK, Europe and internationally.
Online Published Date:
15 June 2009
Appeared in issue:
73 - 01 June 2009
BIBA: FSA is bureaucratic and regulation disproportionate
The UK’s regulation of insurance brokers is “disproportionately bureaucratic” and out of line with the rest of Europe, said Eric Galbraith, chief executive of British Insurance Brokers Association (BIBA). Speaking at the..
Online Published Date:
15 June 2009
Appeared in issue:
73 - 01 June 2009
EC poised to introduce new safety net rules
European policymakers will decide whether to introduce new rules to mandate insurance guarantee schemes in all member states before the end of 2009. Charlie McCreevy, European Commissioner for the internal market, said recently that the patchwork of..
Online Published Date:
15 June 2009
Appeared in issue:
73 - 01 June 2009
Standard setters under pressure to reform
As discussions over Phase II of IFRS for insurance continue, questions are being asked about the performance of accounting standards in the financial crisis and the role of the International Accounting Standards Board (IASB). In this extract, European Commissioner Charlie McCreevy calls for change
Online Published Date:
15 June 2009
Appeared in issue:
73 - 01 June 2009
FSA warns of Solvency II delay risks
Firms that have not already begun planning for the introduction of Solvency II are running out of time, warned the Financial Services Authority (FSA). In a feedback statement to its September 2008 discussion paper on the UK’s preparation for..
Online Published Date:
15 June 2009
Appeared in issue:
73 - 01 June 2009
CRO Forum develops operational risk management guidelines
The CRO Forum has published guidelines on operational risk management, which could pave the way for a common set of principles on the subject.
Part of its series of risk management best practice work, the paper defines and describes good operational..
Online Published Date:
15 June 2009
Appeared in issue:
73 - 01 June 2009
Green light for regulation makeover
European financial services regulation is set for major change. While the main focus has been on the banking sector, the changes for insurance supervision will be felt in the transformation of Ceiops into an authority body with greater legal and enforcement powers
Online Published Date:
15 June 2009
Appeared in issue:
73 - 01 June 2009
Stress test for EU insurers
The first Europe-wide study will look for signs of strain from the financial crisis
Online Published Date:
15 June 2009
Appeared in issue:
73 - 01 June 2009
Insurance complaints to Ombudsman rise 22%
A significant rise in insurance disputes and the worsening economy led to a record number of complaints handled by the Financial Ombudsman Service (FOS) last year.
The ombudsman handled 789,877 initial enquiries in the financial year 2008/2009, of..
Online Published Date:
15 June 2009
Appeared in issue:
73 - 01 June 2009
Swiss Re warns on standard formula shortcomings
Non-proportional reinsurance treaties are not accorded appropriate capital relief under Solvency II, but these “shortcomings” can be resolved, according to recommendations made by reinsurer Swiss Re.
Under Solvency II, insurers will have..
Online Published Date:
15 June 2009
Appeared in issue:
73 - 01 June 2009
EC to launch new IMD review
The European Commission is to conduct another review of the Insurance Mediation Directive (IMD), which imposes minimum requirements for the supervision of insurance brokers across Europe. Charlie McCreevy, internal market commissioner, said recently..
Online Published Date:
15 June 2009
Appeared in issue:
73 - 01 June 2009