Regulation
Quinn model "deeply troubled" claims regulator
A senior official at the Irish Financial Regulator has described Quinn Insurance's business model as "deeply troubled", according to reports.
Emergency Budget 2010: IPT rise will not impact on rate hikes says Bluefin boss
Stuart Reid, chief executive, Bluefin Insurance Services, said the IPT standard rate increase announced by as part of the emergency Budget would be welcomed by many.
Emergency Budget 2010: Travel insurance provider slams gulf in IPT rates
Specialist travel insurance and schemes provider, PJ Hayman has hit back at the rises in insurance premium tax (IPT) after Chancellor of the Exchequer, George Osborne, announced an increase from 5% to 6% on products such as motor and home while raising…
Video: will Axa pull out of the UK?
Head of corporate development at the CII, Alasdair Stewart and Incisive Media’s, David Worsfold, join Martin Friel, Insurance Age editor to discuss the big industry news stories of this month.
Emergency Budget 2010: CGT and IPT rise meets mixed reactions
As part of the coalition government's emergency Budget, Chancellor George Osborne has announced increases in capital gains tax (CGT) and insurance premium tax (IPT).
Emergency Budget 2010: Biba fears IPT rise will lead to cuts in cover
The British Insurance Brokers' Association (Biba) said it is concerned that consumers and businesses will be hit by increasing insurance costs.
Emergency Budget 2010: IPT to rise
Chancellor George Osborne has announced that insurance premium tax (IPT) will rise from 5% to 6% while the higher rate of 17.5% will increase to 20%.
Emergency Budget causes City jitters
As the Chancellor puts the final touches to his emergency Budget speech, new research from BDO suggests that the City is still feeling nervous about the impact of a coalition government and some international businesses have one eye on the door.
Video: The future of regulation explained
Expert advice on what to expect from George Osborne's plans for regulation.
CII outlines new London Market qualification
The Chartered Insurance Institute has outlined its new award in London Market Insurance to be launched in July.
IUA calls for adequate regulation
Nick Lowe, director of government affairs at the International Underwriting Association (IUA), said the general insurance industry played "only a small role" in the financial crisis and that consequently there have been few calls for changes to the…
Hector Sants blames much of financial crisis on culture
FSA chief executive Hector Sants has lamented evidence that the "behavioural issues" which contributed to the financial crisis are still being observed in some major firms.
Law firm highlights drawbacks of "one stop shop" regulator
Bruno Geiringer, a partner in the insurance group at Pinsent Masons, said that "scraping the FSA for banks is right but the case is not made for insurers".
Chancellor confirms FSA will "cease to exist in current form"
Chancellor George Osborne has confirmed in his first Mansion House speech that he will give the Bank of England the key role in regulating the UK financial sector and that the Financial Services Authority (FSA) will “cease to exist in its current form”.
FSA powers to be cut
Chancellor George Osborne has confirmed that he will give the Bank of England the key role in regulating the UK financial sector, according to reports.
Report puts UK national debt at nearly £5trillion
The Institute of Economic Affairs has estimated that the national debt including pension liabilities and likely liabilities to be incurred by the government in respect of the banking sector is £4.8 trillion (333% of GDP).
PJ Hayman calls for IPT standardisation
PJ Hayman, specialist travel insurance and Schemes provider, has called on the new Government to reassess the level at which Insurance Premium Tax (IPT) is charged on travel insurance.
Business confidence dented by forthcoming Budget
According to latest Economy Watch survey by the Forum of Private Businesses, confidence has been impacted by fears that increases in the Budget culd hit small businesses hard.
Regulator dished out £33m in bonuses last year
The Financial Services Authority (FSA) paid out £33m in bonuses last year and pays, on average, over £92,000 to its 3,300 employees.
Biba calls for freeze on Insurance Premium Tax
The British Insurance Brokers’ Association (Biba) is urging the Government not to increase the 5% rate of Insurance Premium Tax (IPT) on insurance products in its next Budget on 22 June 2010.
FSA bans two insurance brokers
The Financial Services Authority (FSA) has taken action against two insurance brokers - Delwyn Way of Shield Insurance Consultancy and Adrian Shillaker of Griffiths McAlister Insurance Brokers for failing to adequately protect client’s money and assets.
FSA authorisation time increasing, says RPC
The length of time that financial services firms are having to wait to get authorisation from the Financial Services Authority (FSA) continues to climb "inexorably", says law firm Reynolds Porter Chamberlain (RPC).
FPB issues World Cup advice
With the football World Cup just over a week away, the Forum of Private Business has advised its members to plan ahead for the likelihood that some employees will take more of an interest in their team’s fortunes than their duties and want to watch games…
FSA extends PPI complaint window
The Financial Services Authority (FSA) has announced a temporary rule to give customers, who recently made a complaint about their payment protection insurance (PPI) policy, more time in which to refer their complaint to the Financial Ombudsman Service …