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31-45 of 102 results
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
New York DFS fines AXA Equitable $20m for violations on annuity products
Department of Financial Services (DFS) has fined AXA Equitable a $20m for violating Insurance Law related to variable annuity products.
Regulatory & Risk > News
NAIC urges U.S. insurance regulatory input to FSB process
By IBR Staff Writer
In a letter to U.S. members of the Steering Committee of the Financial Stability Board (FSB), the National Association of Insurance Commissioners (NAIC) requested support for strengthening U.S. participation on the board by allowing regulatory input and expertise in discussions that impact U.S. insurance markets and policyholders.
Regulatory & Risk > News
IRDA orders SBI Life Insurance to repay $45m to policy holders
Insurance Regulatory and Development Authority (IRDA) of India has ordered SBI Life Insurance Company to refund nearly INR2.75bn ($45m) to policy holders.
Regulatory & Risk > News
Insurance Services Provider REG (UK) selects DataArt for regulatory compliance platform
By IBR Staff Writer
DataArt, a custom software development partner for the financial services and other industries, has announced it has completed the development of Regulatory Efficiency Gains ("REG")'s digital platform.
Regulatory & Risk > News
31-45 of 102 results