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Regulatory & Risk News

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16-30 of 91 results
British insurers criticize EU's insurance Solvency II regulation
By IBR Staff Writer
Most of the UK's insurance companies have criticized the European Union's (EU) impending Solvency II for insurers, saying that the new capital rule will increase their financial burden.
Regulatory & Risk > News
Outlaw insurance payouts for whiplash injury before medical exams, urge MPs
By IBR Staff Writer
Members of Parliament (MPs) have urged to outlaw insurance payouts for whiplash injury before medical exams.
Regulatory & Risk > News
UK CMA proposes changes in PMI market
By IBR Staff Writer
The UK Competition and Markets Authority (CMA) has proposed the chnages it seeks to make in the country's private motor insurance (PMI) market, as part of its strategy to boost competition and slash motor insurance premiums.
Regulatory & Risk > News
India's IRDA to unveil insurance repository pilot for life insurers
By IBR Staff Writer
The Insurance Regulatory and Development Authority (IRDA) of India will launch a pilot on life insurance repository (IR) system, as it gears to digitalization of life insurance industry in the country.
Regulatory & Risk > News
Earthquake court approach misguided: ICNZ
By IBR Staff Writer
Lawyers will be the only winners from the Labour Party's decision to set up an Earthquake Court that would be funded by everyone who takes out insurance in New Zealand and potentially Cantabrians may have to wait even longer to have claims resolved, the Insurance Council chief executive Tim Grafton said.
Regulatory & Risk > News
Senate Banking Committee passes TRIA reauthorization
By IBR Staff Writer
The US Senate Banking Committee approved S. 2244, the Terrorism Risk Insurance Program Reauthorization Act of 2014, by a unanimous vote of 22-0. This bill extends the existing TRIA program for seven years while taking steps to further protect taxpayers.
Regulatory & Risk > News
Singapore MAS plans to implement risk-based capital 2 framework from 2017
By IBR Staff Writer
The Monetary Authority of Singapore (MAS) is planning to complete the calibration factors and features of the (RBC 2) framework by 2014 and formally implement the regulation from 1 January 2017.
Regulatory & Risk > News
Allstate awarded $3.8M in fraud judgment
By IBR Staff Writer
Based on a six-week jury trial, the United States District Court for the Northern District of Texas has entered a $3.8m judgment in favor of Allstate Insurance Company.
Regulatory & Risk > News
Canada OSFI issues rules for residential mortgage insurance practices
By IBR Staff Writer
Canada Office of the Superintendent of Financial Institutions (OSFI) has issued a set of new draft guidelines to promote and support ethical residential mortgage insurance underwriting practices in the country.
Regulatory & Risk > News
China to relax M&A rules for insurance industry
By IBR Staff Writer
China has decided to ease mergers and acquisitions (M&A) rules for the insurance industry, a move which will allow global firms to expand their footprint in the country’s $288bn insurance market.
Regulatory & Risk > News
Zurich Canada chooses Quindell Solutions technology
By IBR Staff Writer
Quindell, the provider of sector leading expertise in software, consultancy and technology enabled outsourcing in its key markets, being insurance, telecommunications and their related sectors, is pleased to announce that Zurich Canada, part of the Zurich Insurance Group has contracted to use regul8™, Quindell's market leading statistical reporting solution.
Regulatory & Risk > News
New York regulators fine MetLife for unlicensed business operations
By IBR Staff Writer
New York financial market regulators have imposed a monetary penalty of $60m against Metropolitan Life Insurance (MetLife) for executing insurance business without obtaining proper licenses and falsifying with regulators for its misdeeds.
Regulatory & Risk > News
Libyan investment authority launches $1.5bn claim against Societe generale and others
By IBR Staff Writer
The Libyan Investment Authority (LIA) has issued a claim against SocGen, three subsidiaries, Walid Giahmi and a Panamanian company in the High Court in London in excess of $1.5bn, relating to a series of four trades and one restructured trade executed between late 2007 and mid 2009.
Regulatory & Risk > News
Pensions Regulator and the FCA publish joint regulatory guide
By IBR Staff Writer
A new guide that sets out how The Pensions Regulator and the Financial Conduct Authority regulate defined contribution (DC) workplace pensions has been launched today.
Regulatory & Risk > News
UK FCA fines Besso over anti-bribery and corruption systems failings
By IBR Staff Writer
The Financial Conduct Authority (FCA) has fined Besso Limited £315,000 for a failure to take reasonable care to establish and maintain effective systems and controls for countering the risks of bribery and corruption.
Regulatory & Risk > News
16-30 of 91 results