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- Home/Publications/Insurance Regulation & Accounting
Between a Rock and a hard place
The Financial Services Authority is more wedded than ever to principles-based regulation post Northern Rock as it faces up to a “challenging” year ahead
Online Published Date:
01 March 2008
Appeared in issue:
58 - 01 March 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 is dedicated to the FSA’s agenda for consultations, discussion documents, thematic work or events of interest to insurers for the year ahead. A second table lists developments elsewhere in the UK, Europe and internationally.
Online Published Date:
01 March 2008
Appeared in issue:
58 - 01 March 2008
Consumers as regulators
Richard McManus and Andy Vernon of PA Consulting Group argue that consumers who choose not to take financial advice will have to take on the role normally assumed by the regulator
Online Published Date:
01 March 2008
Appeared in issue:
58 - 01 March 2008
No compromise
As Solvency II reaches a critical stage in its progress through political negotiations, Charlie McCreevy, European Commissioner for Internal Market and Services, says he is sticking to his guns over the more controversial areas of the directive
Online Published Date:
01 March 2008
Appeared in issue:
58 - 01 March 2008
Briefly noted
▪ Former chief executive of the Financial Services
Authority John Tiner is to serve on the independent panel set up by the Conservative party to review regulation. Mr Tiner, who left the FSA in the summer last year but was under paid contract..
Online Published Date:
01 March 2008
Appeared in issue:
58 - 01 March 2008
UK lobby must tackle Solvency II “sticking points”
Controversial proposals for group supervision under Solvency II should not be watered down under pressure from the more conservative member states, says an influential report from the House of Lords European Union Committee. Plans for group..
Online Published Date:
01 March 2008
Appeared in issue:
58 - 01 March 2008
Solvency II hearing exposes concerns
A recent public hearing on the Solvency II framework directive exposed several other areas of concern for the insurance industry. Commenting on the criteria for the fourth qualitative impact study, the CEA and insurers Aegon and Axa welcomed QIS..
Online Published Date:
01 March 2008
Appeared in issue:
58 - 01 March 2008
MCR creates stand-off in Solvency II negotiations
Insurers and European regulators have clashed over key calculations in the Solvency II directive proposals. The Comité Européen des Assurances (CEA) and the CRO Forum have written to the European Commission objecting to the new methods of..
Online Published Date:
01 March 2008
Appeared in issue:
58 - 01 March 2008
FSA warns on underwriting discipline
Insurers are being warned to keep their underwriting strategies in line with their risk profiles in what is forecast to be a period of general economic instability and a downturn in the underwriting cycle. On publishing the annual Financial Risk..
Online Published Date:
01 March 2008
Appeared in issue:
58 - 01 March 2008
FSA “failed” Northern Rock, Treasury Committee says
The Treasury Select Committee inquiry into the run on Northern Rock last summer has criticised the Financial Services Authority (FSA) for “failing” in its regulatory duty to the bank. On publishing its report “The run on the..
Online Published Date:
01 March 2008
Appeared in issue:
58 - 01 March 2008
EC to launch safety net consultation
The European Commission says it will launch a public consultation on the findings of a recent report into insurance guarantee schemes in Europe later this year before making a decision on whether to mandate for such schemes in all member states...
Online Published Date:
01 March 2008
Appeared in issue:
58 - 01 March 2008
EC “softened” to anti-competitive concerns
Airmic, the risk management association, has said the European Commission has softened its stance towards the practices of London market insurers since its competition review of business insurance, published in September last year. The association..
Online Published Date:
01 March 2008
Appeared in issue:
58 - 01 March 2008
FSA regulation “failed”
Northern Rock has exposed “systematic failure” at the regulator
Online Published Date:
01 March 2008
Appeared in issue:
58 - 01 March 2008
Solvency II causes trouble
The framework directive is dividing political will
Online Published Date:
01 March 2008
Appeared in issue:
58 - 01 March 2008