Solvency II proposals have been watered-down after member states failed to agree on measures for a group support regime that some EU countries felt handed too much control to other regulators and did not offer..
The number of travel firms that have applied for authorization to sell insurance under the Financial Services Authority (FSA) is far fewer than expected, raising concerns that the cost of introducing the new regime will..
A new insurance panel group has been set up in a government-insurance industry alliance to identify long term priorities for the sector. The group has already held its inaugural meeting and it is due to..
Putting aside the political problems with Solvency II, the technical work on the project is continuing. Ceiops recently published the full report on QIS 4, all 400 pages in fact.
For the first time in the..
Two directors of an insurance broker have fallen foul of the Financial Services Authority’s client money rules and have been banned from conducting regulated functions for three years.
The regulator said Roger Muse and his son..
The head of the Financial Services Authority (FSA) is to appear before the Treasury Select Committee as part of its evidence session on the work of the regulator. Lord Turner, the new chairman of the..
The Competition Commission’s review of payment protection insurance (PPI) has concluded with the controversial proposal to ban the sale of single-premium PPI policies, which it argues prevent customers from switching providers and make it difficult..
The Financial Services Authority (FSA) has warned that some insurance comparison websites need to make further improvements to avoid regulatory action. In an update of a review of insurance comparison websites, the FSA said many..
Two UK insurance brokers have been banned from trading after the Financial Services Authority found that they knowingly breached market rules. Stephen Fryett, a director of CIC Greece and also involved with CIC Costa Rica..
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 rest of the year and into 2009. A second table lists developments elsewhere in the UK, Europe and internationally.
To say that 2008 was an eventful year in financial services regulation would be an understatement. IR&A looks back at the events that hit the headlines and what this will mean for the future of insurance regulation
Insurance brokers will no longer have to seek Lloyd’s Broker status in order to place business in the Lloyd’s market under a package of legal reforms that update existing governance provisions dating back to the..
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