Last month, a new law was introduced to combat illegal online content, brokers struggled to tackle fair value rules, insurance associations join forces to wipe of misconduct in London insurance market and REG Technologies launched its Challenges and Risks Tracker to help insurers navigate their current counterparty risk management approach...
Last month, a new law was introduced to combat illegal online content, brokers struggled to tackle fair value rules, insurance associations join forces to wipe of misconduct in London insurance market and REG Technologies launched its Challenges and Risks Tracker to help insurers navigate their current counterparty risk management approach...
Last month, brokers were seen to be consolidating agencies to prioritise key insurer relationships, the FCA intensified its crackdown on misleading financial ads, fraudulent claims sky-rocketed and industry professionals pushed for enhanced AI training to bridge the gap within insurance.
Read these articles and many more as we bring you all the important news and views in the insurance and financial services world…
Last month, the FCA updated its guidance on 'polluter pays' and redress liabilities, the regulator also announced strategies around 'unnecessary regulation,' insurance fragility in the US was revealed in the wake of LA fires, a shift to AI hiring was noted among UK firms, and REG Technologies partnered with Insurance Post to discuss the regulatory challenges facing MGAs and insurers and the role of technology in easing the burden.
Last month, the BoE planned for tougher liquidity rules, insurers and brokers joined forces to prioritise better consumer outcomes, reforms to pension support were explored to close advice gap, smaller firms were urged to focus on their ESG impact and legacy systems still prove a challenge for many insurers...
Last month, the FCA reviewed life insurers' bereavement claims processes, brokers were advised to revisit policies ahead of Employment Rights Bill enforcement, ISO introduced new global ESG guidelines to accelerate adoption of sustainable business practices and O2's AI "granny" rollout is shaking up scamming attempts...
Last month, experts dispute FCA concerns over brokers’ compliance with fair value, whilst the regulator tightens focus on premium financing firms, banks are warning customers about “quishing” scams, scientists achieved a breakthrough in DNA data storage, the FCA reveals ongoing issues of workplace misconduct in the London insurance market, emphasising the need for cultural change...
Last month, the FCA released its Product Oversight and Governance review and increased scrutiny of Principal Firms' oversight on ARs, REG partnered with Insurance Post to debate whether RegTech is a luxury or a necessity for tackling regulatory challenges, Insurance Business TV featured industry leaders discussing DEI and talent issues in the insurance sector, and rising concerns over deepfake and document fraud continue to affect the industry...
Last month, the FCA published a discussion paper aimed at bettering the commercial regulatory landscape, the average UK home insurance has skyrocketed, the increase in severe weather damages is compelling insurers to think of stronger strategies, and REG's new module REG Verified is set to revolutionise the insurance market...
Last month, the FCA urged financial firms to improve their treatment of politically exposed persons (PEPs), a major IT outage led to a potential rise in claims, the UK motor insurance sector faced major underwriting losses due to the current economic and political climate, and the insurance industry is supporting $19 trillion in net zero investments by engaging in greener projects...
Last month, the growing threat of summer floods was highlighted, urging both policyholders and insurers to take proactive steps. The FCA's Market Watch 79 emphasised the importance of strong data management in surveillance against market abuse, firms were reminded that the Consumer Duty is not a 'one time requirement', but a continuous effort, and REG is excited to sponsor the upcoming MGAA Annual Conference and collaborate with MGAs about the value of partnerships…
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