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Changes to the way in which global insurers will be required to account for their profits and liabilities will have particular consequences for life insurers, an expert has warned. 23 May 2017
New guidance from the UK's Financial Conduct Authority (FCA) will greatly assist insurers and professional advisers when preparing insurance business transfer schemes under Part VII of the Financial Services and Markets Act (FSMA), an expert has said. 19 May 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: Firms will need to be aware of changes to the FCA Handbook claims handling provisions to bring them in line with the Insurance Act 2015 (the Act). 10 May 2017
Business and consumer insurance policyholders may now pursue their insurers in the courts if they do not settle claims within a reasonable amount of time. 08 May 2017
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