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.
The insurance industry is working on a market solution to settle the regulator’s concerns over commission disclosure. To date, the industry has failed to come up with a plan agreeable to all parties and the..
▪ Brit Insurance has told
that it would
consider following the lead of other insurers and redomicile outside of the UK to benefit from more business friendly tax regimes. The majority of Brit..
The European Commission has opened a public consultation on last year’s Oxera study concerning insurance guarantee schemes to inform its decision on whether to mandate for schemes in all member states. At the time of..
Europeans who take out general insurance and long-term policies with local branches of UK firms will be afforded the same levels of protection as UK policyholders under new proposals by the Financial Services Authority. In..
The Financial Services Authority (FSA) has turned down brokers’ requests for a review of ICOB rules in relation to price comparison websites. The regulator said that during a review of 17 insurance comparison websites, it..
Bermuda’s financial services regulation has been criticized for operating below international standards by a House of Commons committee. In a report on the risks posed by UK territories, the Committee of Public Accounts said that..
1. The intermediary shall, based on information provided, specify the demands and needs of the client as well as the underlying reasons for any advice.
2. Before placing a risk, an intermediary will review and advise..
New principles for the insurance industry propose to end automatic premium alignment in the insurance subscription market, an industry practice criticised by the European Commission in its sector inquiry into business insurance last year. The..