i-law.com - Newsletter (Insurance Regulation & Accounting)

Safety-net debate rolls on

Lack of uniformity across Europe has been playing on the EC’s mind for some time. A two-year investigation has unearthed support for compulsory guarantee schemes across Europe to protect policyholders but member states are still at odds on the..

Online Published Date: 01 September 2003

Appeared in issue: 5 - 01 September 2003

Lloyd’s franchise tackles “significant variances”

There will be no change for 2004 to the franchise performance guidelines that Lloyd’s managing agents need to follow but the franchise directorate has issued new notes on how to interpret the guidelines. The move follows what the directorate..

Online Published Date: 01 September 2003

Appeared in issue: 5 - 01 September 2003

IASB denies ED5 concessions

Insurers need to make the most of the accounting consultation period The insurance industry has just two months left to formally voice its concerns about Phase I of the insurance accounting standards draft, ED5, released at the end of July. The..

Online Published Date: 01 September 2003

Appeared in issue: 5 - 01 September 2003

Claims handling

There is plenty of scope for insurers to fall foul of new laws proposed for the sale of general insurance, but claims handling could be one of the biggest danger areas leading to not only FSA disciplinary proceedings but possible private..

Online Published Date: 01 September 2003

Appeared in issue: 5 - 01 September 2003

Facing the realities of IFRS

After a small delay the insurance exposure draft has arrived, although it has not received the welcome fanfare that it might have hoped. The objections will be worked out during the consultation process but, say Nigel Masters and Anil Bangar of..

Online Published Date: 01 September 2003

Appeared in issue: 5 - 01 September 2003

Are we there yet?

Creating a truly single market for financial services has been a long journey. A five-year plan aims to have all the loose ends tied up by 2005, but with just months left to adopt the remaining proposals, IR&A looks at what more needs to be..

Online Published Date: 01 September 2003

Appeared in issue: 5 - 01 September 2003

Corporation tax reform: the consequences

The next stage in the government’s ponderous progress towards corporation tax reform was published on 12 August 2003. In this article, Matthew Taylor, a tax partner with Ernst & Young in London, explains the possible consequences of the..

Online Published Date: 01 September 2003

Appeared in issue: 5 - 01 September 2003

Operational risk moves out of the shadows

Supervisors and companies either buying or selling operational risk transfer products need to gain a better understanding of the issues involved, in particular any new risks that arise in different areas as a result of the transaction, according to..

Online Published Date: 01 September 2003

Appeared in issue: 5 - 01 September 2003

S&P adds food-for-thought on US collateral issues

Analyst Standard & Poor’s (S&P) is throwing its weight behind the collateralization debate raging among reinsurers on opposing sides of the Atlantic, although it makes clear that its position in the argument is neutral. In a..

Online Published Date: 01 September 2003

Appeared in issue: 5 - 01 September 2003

CEA monitors Lamfalussy for insurance

The Comité Européen des Assurances (CEA) has warned that the extension of the Lamfalussy process to the insurance industry should not jeopardise the quality of future legislation. While the CEA supports the general principals of the..

Online Published Date: 01 September 2003

Appeared in issue: 5 - 01 September 2003

FSA sets September agenda

Regulatory work steps up a gear this month as the summer draws to a close This month will see the departure of the most influential figure currently residing in Canary Wharf. Sir Howard Davies, chairman and chief executive of the Financial Services..

Online Published Date: 01 September 2003

Appeared in issue: 5 - 01 September 2003