Prudential Regulation Authority (PRA)
Biba focuses on access to insurance in 2020 manifesto
Manifesto includes 37 commitments and 29 calls for action across nine key areas including regulation, broking challenges, Brexit, and transport.
Former FCA insider develops compliance platform for brokers
Industry veteran Michael Sicsic partners with Governor Software to help brokers and insurers digitalise key compliance processes in a changing regulatory environment.
Whistleblowing failures prompt regulatory intervention at Lloyd’s
PRA has laid down new rules after the Society of Lloyd’s disclosed that it had not maintained an anonymous whistleblowing channel for 16 months.
FCA and PRA seek to ban and fine former insurance CEO
A joint investigation by the regulators found that between February 2010 and July 2016 Stuart Malcolm Forsyth transferred excessive amounts of his own salary to his wife, and as a result paid £18,000 less in income tax than he should have done.
PRA urges industry to improve disclosure mechanisms
Regulator used a Dear CEO letter to raise concerns about whether staff feel able to speak up about poor practices and unidentified risks within their firms.
Regulator sharpens focus on Lloyd's amid sexual harassment claims
Following the warning Lloyd's has revealed advisory committees designed to tackle diversity and inclusion featuring sector leaders such as Zurich's, Amanda Blanc, and the CII's, Sian Fisher, have been set up.
FSCS names Caroline Rainbird as new CEO
She replaces Mark Neale who announced last year that he was to leave in May after nine years in the role.
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.