Zurich will pay up to £25m to help policyholders of structural defects specialist East West Insurance Company, the insurer and administrators Ernst & Young have confirmed.
The government’s second consultation on regulatory framework reform has received a mixed response from trade bodies.
Chancellor of the Exchequer Rishi Sunak has backed a review of reforms to the appointed representatives regime in his response to a committee of MPs looking at Greensill Capital’s collapse.
In her first interview since becoming interim CEO of the London Market Group, Caroline Wagstaff explains her route to the role, delivering for government, customers, and future talent as well as how she balances the demands of the market-wide body’s post…
Regulators mull targets, disclosures and individual accountability to spur on D&I at financial services firms
Regulators are considering a range of policy options to boost diversity and inclusion in the financial services sector, including the use of representation targets and making senior managers directly responsible for D&I within their firms.
Stuart Forsyth describes 'hellish experience' as Upper Tribunal overturns fine and ban by ruling against FCA and PRA
Stuart Forsyth, the former CEO of Scottish Boatowners Mutual Insurance, has called on regulators to “learn from the errors they made in my case and work to restore the faith of regulated professionals” as the Upper Tribunal overturned his fine and ban.
Treasury confirms 'strong case' for Solvency II reforms to free up resource and allow UK insurers more flexibility
The government is planning to bring forward reforms to free up resource on insurers’ balance sheets and allow insurers more flexibility around investments as it rewrites the UK’s Solvency II regime.
Trade Voice: Foil's Jennette Newman on the penalties facing firms that misfire on climate transition
As the world begins to really face up to climate change, Jennette Newman, president of the Forum of Insurance Lawyers and partner at Clyde & Co, warns that the regulatory, reputational and legal penalties for failing to transition a climate-friendly…
The Bank of England’s forthcoming climate stress tests of the UK financial services sector have been designed to provide a view of “the size of the adjustment that is needed”, regulators told an industry summit on Thursday.
Claire Dawson, partner at specialist employment law firm BDBF, considers how employers are using non-disclosure agreements – and what insurance employees should do if they have been harassed or discriminated against at work.
The World Economic Forum identified biodiversity loss as one of its top five global risks earlier this year. Airmic deputy CEO and technical director Julia Graham argues that taking action is in businesses' interests as well as the planet's.
Prudential Regulation Authority CEO Sam Woods has sought to temper expectations that the ongoing review of Solvency II will free up significant amounts of capital held by the UK insurance sector.
Brokers have called for the insurance industry to kick back against the increase in their Financial Services Compensation Scheme levy with the sector’s bill set to more than triple to £146.8m in 2021/22.
Following "data not dates" means there is no need to delay regulatory reforms where there is common ground, experts told the audience at the Association of British Insurers’ annual conference yesterday alongside calls for the watchdogs to have a…
After drawn-out consultations financial regulators will soon lay out what they expect from firms in terms of operational resilience. Harry Curtis investigates.
Post has compiled a list of the 100 highest profile people working at the top for UK general insurers, Lloyd’s vehicles, international insurers with a UK presence, regulators, trade bodies and markets based on how long they have been in the hot seat.
Late on 25 November, the Prudential Regulation Authority and Financial Conduct Authority at last approved Markerstudy’s takeover of the Co-op’s underwriting business – 675 days on from when the deal was first announced.
East West Insurance had 194 open insurance claims as of 12 October, administrator EY has confirmed.
Markerstudy’s long-running takeover of Co-op’s insurance underwriting business could be completed by Christmas after the Prudential Regulation Authority signed off on the deal, Post can reveal.
Insurers face responding to the Covid-19 crisis in an informational black hole, operational risk experts at Oric told Post.
The Prudential Regulation Authority will “sharpen” its focus on financial lines insurers and those with a material exposure to man-made catastrophe risk, in addition to advising insurers to revisit how they approach contract uncertainty, the regulator…
A ranking of the top 100 Prudential Regulation Authority-regulated UK insurance companies, with each business broken down by gross written premium, net written premium, underwriting result, retention ratio, solvency capital requirement and SCR Ratio.
As part of a monthly series, where Post looks into how the insurance industry is set to evolve by 2030, David Worsfold looks at climate change and why tackling it might once again be top of the agenda for most insurers
To survive and thrive in uncertainty, to shore up organisational resilience and remain innovative, insurance firms must embrace diversity and meaningfully embed it in their culture and operating model.