Insurance UK

  • May 2, 2017

    Main Credit Agencies Too Strong, EU Lawmakers Warned

    Poor competition between credit rating agencies is a major concern for the European Union, with the three biggest firms dominating almost the entire market, European lawmakers were told before a critical regulatory meeting takes place on Wednesday.

  • May 2, 2017

    FCA Updates List Of Products Affected By EU Fund Rules

    Britain’s Financial Conduct Authority set out on Tuesday which products will be affected when European Union disclosure requirements for investment funds take effect in January 2018 after a long delay.

  • April 29, 2017

    EU Leaders Formally Set Tough Brexit Guidelines For Talks

    European Union leaders on Saturday formally set tough negotiating guidelines for two years of Brexit talks with the U.K., casting doubt on British government hopes for a quick trade deal to secure access for U.K. banks and businesses to the EU marketplace.

  • April 28, 2017

    FCA Tweaks Insurance Rulebooks For Claims Reforms

    The U.K. Financial Conduct Authority proposed changes to its rulebooks on Friday regarding reforms to insurance claims handling that will go into force on Aug. 1.

  • April 28, 2017

    PRA Helps Insurers Lower Solvency II Capital

    The U.K. Prudential Regulation Authority directed insurers on Friday on how to minimize their exposure to tough new capital requirements being phased in under the European Union’s controversial Solvency II rulebook.

  • April 28, 2017

    UK Bill Targeting Money Launderers, Tax Cheats Becomes Law

    Key legislation targeting money laundering and tax evasion has passed into U.K. law after it was granted royal assent late Thursday, having been accelerated through Parliament following Prime Minister Theresa May’s decision to call a snap general election.

  • April 28, 2017

    Bank Of England Finalizes Implementation Of MiFID II

    New European Union financial rules cleared one of the last remaining hurdles before entering U.K. law on Friday as the Bank of England’s watchdog finalized how the rulebook will be implemented by Britain’s financial services sector when it takes force in 2018.

  • April 28, 2017

    EIOPA Guides Insurers On Solvency II Reporting

    Europe’s top insurance regulator issued its latest detailed advice Friday on how insurers should use templates to report data to watchdogs under the European Union’s sweeping capital rulebook for indemnities.

  • April 27, 2017

    Zurich Insurance Calls For Fairer UK Injury Claims Regs

    U.K. insurer Zurich Insurance on Thursday called for the appointment of a new "savings minister" and a fairer framework for setting the personal injury rate, as it sets out its manifesto for insurance and savings ahead of the 2017 U.K. general election.

  • April 27, 2017

    Get Ready For New Damages Regime, UK Insurers Told

    U.K. insurers should make final checks that they are ready to face damages for late payment of claims for the first time ever next week, Lloyd’s Market Association said Thursday.

  • April 27, 2017

    FRC Eyes Mandatory Audits For Preliminary Financial Results

    A requirement for listed companies to make sure their preliminary financial results announcements have been formally audited could be reintroduced as part of draft plans floated by the U.K.’s accounting regulator on Thursday.

  • April 27, 2017

    EU Says No Quick UK Trade Deal, Warns of Brexit 'Illusions'

    Britain’s financial services sector will not get any special treatment in the upcoming Brexit negotiations under guidelines agreed to Thursday by European Union ministers for talks with Britain on its withdrawal from the bloc, according to the Maltese minister who chaired the officials' meeting.

  • April 27, 2017

    UK Snap Vote Derails Driverless Car Insurance Reforms

    Britain’s June 8 snap general election will scrap two major pieces of draft legislation containing reforms to insurance law, leaving lawmakers to start from scratch once a new government is formed, a parliamentary spokesman confirmed Thursday.

  • April 27, 2017

    Robo-Advice May Play Major Role In Cyber Insurance: Report

    Increasing cyberattacks and new regulatory burdens may push smaller businesses to seek greater advice on commercial insurance protection, but that guidance may increasingly be provided by “robo-advisers” rather than human staff, a major trade group indicated Thursday.

  • April 26, 2017

    Insurance Broker Rolls Out Solvency II Compliance Software

    A major international insurance broker launched updated software on Thursday to help insurers meet tough reporting deadlines under the European Union’s controversial capital rulebook.

  • April 26, 2017

    UK Sets Whistleblowing Rules For Foreign Firms' Branches

    Britain’s Prudential Regulation Authority on Wednesday finalized rules aimed at extending whistleblower protections to the U.K. branches of financial institutions headquartered outside of the European Economic Area.

  • April 26, 2017

    EU Insurance Conflicts Face Regulatory Action

    Europe’s top insurance regulator said Wednesday that it is investigating how to prevent widespread conflicts of interest caused by asset managers routinely paying insurance firms which give them business.

  • April 26, 2017

    EIOPA Seeks Evidence On Treatment Of Unlisted Equity

    Europe’s top insurance regulator on Wednesday called for evidence from the industry on how unlisted equity and debt are being treated as part of Solvency II, the European Union’s capital rulebook for insurers.

  • April 26, 2017

    ESMA Working Group Lists 'Big Data' Risks For Supervisors

    An advisory group to the European Securities and Markets Authority has said financial services supervisors across the European Union should be given greater enforcement powers and technological know-how as they grapple with the numerous risks of big data.

  • April 26, 2017

    Firms Failing To Insure Against Cyberattacks, Report Says

    Companies are failing to take out sufficient insurance against cyberattacks and are instead spending four times more to protect less-valuable tangible property, according to a report released Tuesday.