Brexit
News analysis: Solvency II - should brokers be worried about the impact the reforms will have?
The government’s Solvency II overhaul will likely start this year. Politicians want to relax capital requirements to unleash investment and make the UK a more competitive country. Others have concerns about insurer failures, reports Saxon East.
Senior managers’ regulatory reform could heap extra costs on firms
Changes to the Senior Managers and Certification Regime could lead to extra regulatory costs, especially if the government pursues a major shake-up, experts have warned.
Only 14% of smaller SMEs have business continuity plans: Aviva
Aviva has urged brokers to keep having the conversations needed with clients on business continuity plans as the insurer revealed only 28% of firms have one in place.
Why Direct Line's disastrous profit warning should matter to brokers
Direct Line's profit warning sent shockwaves through UK insurer's share price yesterday, with Aviva and Admiral also suffering. Personal lines brokers should notice the problems Direct Line faces, as they are industry-wide and give insight into what to…
The stats: Q3 - Feeling the squeeze as commercial continues to climb
Recent figures for Q3 from Acturis show policyholders remain under intense pressure as premiums rise across all business classes, reports Rachel Gordon
Politicians target reform of Senior Managers and Certification Regime in ‘Brexit dividend’
The government has announced plans to begin a review into reforming the Senior Managers and Certification Regime.
In Depth: On the road again - haulage under the spotlight
Too few drivers, Brexit redtape and more theft have put the haulage sector under immense strain, but specialists say there are some positive signs showing the sector can keep on trucking, facilitated by expert brokers and insurers as Rachel Gordon…
News analysis: Would a merged FCA/PRA make brokers’ lives any easier?
Team Truss have financial regulation in their sights… but just how far could they go? It’s mooted there are plans to create a single super regulator by merging the Financial Conduct Authority, the Prudential Regulatory Authority and the Payment Systems…
News analysis: Agriculture – how can brokers help the sector face up to risks, old and new?
Whether it is inflation, weather, rural criminals or staff shortages, the agricultural market has certainly borne the brunt when it comes to feeling the force of social and climate change. Martin Friel investigates how the insurance sector is helping…
Biba sets out top three broking wish list for new PM
The British Insurance Brokers’ Association is hoping for proportionate regulation, the introduction of an enhanced growth and competitiveness objective for regulators and changes to IPT, CEO Steve White told Insurance Age setting out its wish list for…
The FCA argues back at financial inclusion being included in mandate
The Financial Conduct Authority has responded to a Treasury Select Committee report on the Future of Financial Services Regulation disagreeing with the recommendation that it should ‘have regard’ to financial inclusion.
GWP up but profit and COR deteriorate for Allianz Holdings
Allianz Holdings has posted a drop in profit of 42%, from £170m to £99m for the first half of 2022.
Chancellor hails planned repeal of EU financial laws
The current Chancellor of the Exchequer, Nadim Zahawi, has pledged that laws will be changed under the newly-published Financial Services and Markets Bill.
John Glen resigns as Economic Secretary to the Treasury
The Minister handed in his notice to Prime Minister, Boris Johnson, yesterday (6 July) stating that he “can no longer reconcile my commitment to the role and to the financial services sector with the complete lack of confidence I have in your continuing…
Rishi Sunak flags speedy reform for Solvency II rules
The Chancellor of the Exchequer Rishi Sunak told insurance executives at a meeting on Monday that Britain wants to reform its insurer solvency rules quickly.
New Treasury sub-committee to scrutinise regulators
The Treasury Select Committee has revealed a new sub-committee to scrutinise regulatory proposals for financial services in the post-Brexit landscape.
Analysis: The inflation challenge
The ever-increasing rate of inflation in the UK and certainty of more to come has led to warnings of challenges for brokers and insurers alike with issues ranging from difficult conversations on premium rises to underinsurance and the prospect of turning…
In Depth: Legal expenses cover proves value in volatile times
The turmoil caused by pandemics and politics in the past two years has created an increasingly litigious landscape and served to highlight the value and benefit of legal expenses to businesses, says Tim Evershed
FCA supports long-term economic growth objective
Regulators quizzed by Treasury Select Committee.
Brokers urged to engage with Lords' Committee's insurance market regulation inquiry
Biba confirms it will be will be putting in a response to the consultation which closes on 11 February as compliance experts discuss whether the inquiry could have an effect on the regional broker market.
Lords starts hearing evidence in insurance market regulation inquiry
The House of Lords Industry and Regulators Committee kicked off its investigation which focuses on the commercial insurance and reinsurance market on 14 January.
Society of Insurance Broking reveals broker challenges in 2022
Ensuring that clients’ cover and sums insured are kept under regular review costs will be a “dominant theme”, but the Society also pointed out the opportunities new talent brings.
Review of the year: Covéa's Sue Coffey
Coffey discusses how the industry has risen to the challenge and worked together to navigate a difficult period while preparing for "significant" changes in regulation.
Insurance Age year in review- Steve Molloy
Steve Molly of AX reviews the year so far and tells Insurance Age what 2022 might look like.