Prudential Regulation Authority (PRA)
Blog: Brokers need to seize the opportunities in cyber
Michael Whitfield from CPP UK discusses why brokers should be moving cyber risk up the agenda for their SME customers.
Quizzical Questions: 1 February 2019
Test your knowledge of the week's news with our topical quiz.
PRA CEO letter warns action is needed on cyber
Regulator calls on providers to cover more ground on cyber in relation to risk management, risk appetite and strategy, and pledges to continue to keep cyber insurance underwriting risk under review.
FCA updates approach to authorisation
Feedback statement follows on from consultation that closed in March.
Blog: Regulation and non-domiciled insurers
Nick Garner, of Financial and Legal Insurance, examines the FCA guidance on due diligence and argues that non-UK domiciled providers are not monitored with the rigour they should be.
Folgate to start writing business again
The Folgate business will be underwritten by its owner APC Underwriting.
Bank of England has spent over £1.5m on GDPR
Freedom of Information request reveals a budget of nearly £2.5m.
MPs concerned re whiplash reforms
Justice Committee “troubled” by the reliability of insurer fraud data ahead of secondary legislation on personal injury reform.
Marshall Bailey appointed FSCS chair
Bailey, a non-executive director at Chubb European Group, succeeds Lawrence Churchill.
Treasury Committee calls for changes to Solvency II post-Brexit
Committee wants discussion between the PRA and the industry in response to "practical difficulties" of Solvency II.
FCA and PRA publish final changes to enforcement processes
The policy statement sets steps for the regulators to be "fair" and "command public confidence".
News analysis: Due diligence to the fore in unrated insurer debate
Biba plans to launch assessment tool for brokers
GI firms pass stress test
PRA writes to general insurance CEOs with results of stress testing in run up to Solvency II and firms are described as “resilient”.
FCA and PRA to strengthen decision-making processes
Regulators have published consultation paper to address transparency and effectiveness.
Sam Woods named as new PRA chief
Woods replaces Andrew Bailey who is taking over as CEO of the FCA.
Flood Re publishes list of insurers
Aviva, Hiscox, Legal & General, LV and More Than among firms which will offer policies backed by the scheme.
Flood Re receives regulatory approval
Organisation confirms 4 April launch date.
FCA spent over £200,000 recruiting Andrew Bailey
Regulator interviewed four candidates for the CEO role.
Industry welcomes “regulation heavyweight” to FCA role
Insurers broadly applaud Andrew Bailey’s appointment to the top job at the FCA, but brokers express concern over the regulator’s promotion of an “establishment” figure
Biba welcomes new FCA boss
Brokers admit to not having heard of new appointee.
PRA approves Solvency II models for 19 insurers
Regulator’s list includes both life and general insurers.
Regulator costs soar by 24%
New regulators must demonstrate more value for money, says NAO.
New compliance firm aims to be "one-stop shop"
A new regulatory consulting firm has launched this month to act as a "first-choice" advisor and "one-stop shop" on regulation and compliance issues for firms in general insurance and legal services.
FCA announces £430m funding requirement
The Financial Conduct Authority (FCA) has announced an annual funding requirement (AFR) of £432.1m for 2013/14.