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Trade bodies for UK and EU insurers have welcomed calls by a European parliamentary committee to delay the introduction of the Insurance Distribution Directive (IDD) until October 2018, almost eight months later than planned. 19 Oct 2017
Regulations which will establish a UK framework governing the tax and regulatory treatment of insurance linked securities (ILS) have been laid before parliament. 17 Oct 2017
Part VII of the 2000 Financial Services and Markets Act (FSMA) sets out the statutory mechanism allowing insurers and reinsurers to transfer portfolios of insurance business from one entity to another, subject to court approval.
On 1 April 2015, UK financial regulators the Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) gained new competition law powers, which they can exercise concurrently with the Competition and Markets Authority (CMA).
The EU's Solvency II Directive came into force on 1 January 2016. The directive consolidates and harmonises existing EU insurance directives including life and non-life directives, the reinsurance directive and various others.
Retailers are expected to protect anyone who enters their premises from harm, by removing or controlling risks to employees, volunteers, contractors or members of the public.
The 2015 Insurance Act (2015 Act) applies to all commercial contracts of insurance, and variations to existing contracts of insurance, from 12 August 2016 and introduces what the UK government has described as “the biggest reform to insurance contract...
New rules will apply when insurers outsource "critical or important operation functions or activities" once the Solvency II regulatory regime comes into force on 1 January 2016. This short guide will provide a brief overview of the requirements, as well as...
LEGAL UPDATE: The FCA has published a policy statement setting out its near-final IDD rules including regimes for ancillary insurance intermediaries; professional, organisational and prudential requirements for insurance distributors; complaints... 28 Sep 2017
Advisers recommending insurance-based investment products (IBIPs) must make sure that any inducements will not have a "detrimental impact" on the quality of the relevant service from next year, the Financial Conduct Authority (FCA) has said. 28 Sep 2017
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