HM Treasury
Treasury delays transposition of IDD into national law
The Treasury has paused the implementation of the Insurance Distribution Directive, earning praise from insurers.
Treasury MP promises engagement with brokers over regulation
Nicky Morgan, the chair of the Treasury Select Committee, said she looks forward to engaging with brokers over the “important issue” of lost productivity and regulation.
Covéa's Adrian Furness on removing gender barriers
Adrian Furness, claims and operations director at Covéa Insurance, wants his daughter and other women to be able to fulfil their potential, so as an industry leader he's making sure he can feel proud rather than apologetic about the industry’s diversity…
Industry needs to educate public on 'big ticket' Ogden decision, City Minister warns
Industry needs to join government in educating the public on the change to the Ogden discount rate, City Minister Stephen Barclay MP said.
Nicky Morgan urges Chancellor to make a decision on long-standing insurance contracts before Brexit
Chair of the Treasury Committee, Nicky Morgan MP, has written to Chancellor Philip Hammond on the issue of how cross-border insurance contracts will be managed after Brexit.
Industry welcomes chancellor's Mansion House speech
The UK insurance industry has welcomed comments made by chancellor Philip Hammond where he said he is pushing for a Brexit "that works for Britain," and wants a business-friendly Brexit which protects financial services.
Blog: Diary of an insurtech start-up, episode 2: Silicon Valley
James Stuart Clarke, head of sales and partnerships at Digital Fineprint, compares the start-up scenes of San Francisco and London in the second instalment of his behind-the-scenes look at insurtech disruption.
Enterprise Act: Paying the price for paying late
With the Enterprise Act coming into force on 4 May, policyholders will now be able to claim damages for late payment of claims. Are insurers ready?
Whiplash legislation ‘will commence’ later this month, minister says
The government will start drawing up legislation on whiplash reform this month, a finance minister said.
MPs call for a breakup of the FCA
A review on the possible breakup of the Financial Conduct Authority has been called for by senior MPs and the Treasury Select Committee due to ‘severe flaws’ in its past operations.
Government accepts Insurance Fraud Taskforce recommendations
The government has accepted the recommendations it has been given by the Insurance Fraud Taskforce and has called for the whole industry to tackle the issue.
Quiz of the week - 18 March
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
Industry bosses unite to warn government against further IPT hike
The industry is rallying against a further potential increase in insurance premium tax ahead of the 16 March Budget.
UK authorities right to flag Solvency II concerns prior to 2018 review
Wide-ranging criticism of the nascent Solvency II regime by the UK has received initial support, despite the fact that the regulatory system is little over a month old.
Biba Manifesto 2016: Biba spotlights regulatory cost as members face new hike in fees
The cost of regulation continues to feature prominently in the British Insurance Brokers’ Association’s manifesto for 2016, alongside emerging areas such as a European referendum, the implications of the Vnuk tractor case and Flood Re exclusions.
Government challenged to instigate fraud taskforce recommendations
The insurance industry has praised the final report of the Insurance Fraud Taskforce with the mantle now passed to government to work on implementing the suggested reforms.
Government pledges £50m fund to flood victims
Chancellor of the Exchequer George Osborne has announced a £50m fund for families and businesses affected by floods in Cumbria and Lancashire in today's (9 December) Prime Minister's Questions session.
LMG welcomes start of ILS legislative process
The government has tabled an amendment to the Bank of England and Financial Services Bill seeking power for the Treasury to make regulations facilitating and regulating insurance linked securities (ILS) business, a move welcomed by the London Market…
FCA ‘would consider' insurance issues in financial advice consultation
The Financial Conduct Authority has told Post that it would consider expanding a consultation on improving financial advice for consumers to include insurance issues if they are brought up during discussions.
News Editor's Comment: Out of the loop
Most business-minded people like to think of themselves as being ‘in the loop’ when it comes to decisions directly impacting their commercial affairs, which is why the recent disconnect between insurance firms and government is likely to feel like…
Blog: GI hopes high on FCA successor as Wheatley is shredded
The soon to be deposed Financial Conduct Authority CEO Martin ‘shoot first ask questions later' Wheatley this week admitted he is "disappointed to be moving on with a sense of unfinished business".
ILS taskforce meets government for the first time
The industry task force established to work with government to investigate ways in which more Insurance Linked Security business could be attracted to London met with representatives from HM Treasury for the first time on Friday (5 June).
Working group touted to tackle Gibraltar VAT loophole frustration
Insurer frustration around the differing VAT rates incurred by UK and Gibraltar-based firms has led to calls for an industry working party to lobby government to level the playing field.
Flood Re chair Hoban to take home £150k in first year
Flood Re chairman Mark Hoban is to receive a salary of £150,000 for his first year of work for an expected commitment of approximately seven hours per week.