InSure — April 2014: regulatory developments
PRA publishes supervisory statements for insurers
The PRA has published several supervisory statements concerning insurers, namely:
- (SS3/14) on its approach to schemes of arrangement proposed by insurers under Part 26 of the Companies Act 2006
- (SS4/14) providing additional clarification of its expectations of general insurers in relation to prudential provisions within the PRA handbook
- (SS5/14) on the calculation of technical provisions and the use of internal models for general insurers under the Solvency II Directive (2009/138/EC)
- (SS2/14) on the recognition of deferred tax under the Solvency II Directive regime
PRA, April 2014
FCA thematic review on household and travel insurance claims handling
The Financial Conduct Authority (FCA) has published the initial findings of its thematic review on household and travel insurance claims handling. The thematic review was designed to assess the extent to which insurers put consumer claims at the heart of their businesses. Martin Wheatley, the chief executive of the FCA, launched the review in a speech to the British Insurance Brokers’ Association conference in May last year…
Click on the link below to read the rest of the Addleshaw Goddard briefing.
News from Addleshaw Goddard
News from The Lawyer
Briefings from Addleshaw Goddard
Corporate News: ICSA Registrars Group guidance on articles of association and dividend distributions; and more
Addleshaw Goddard has published the June 2014 edition of Corporate News.
An employee cannot bring a breach-of-contract claim for losses flowing from the manner of dismissal even where the dismissal is in breach of an express contractual disciplinary procedure.
Analysis from The Lawyer
Could Slater & Gordon achieve its stated aim of becoming a top consumer brand by acquiring Pannone?
The past five years have not been easy for Addleshaw Goddard. The firm’s revenue fell 7 per cent from £173.1m to £161.9m between 2008/09 and 2010/11 and despite finances looking up in 2011/12, when Addleshaws reported a 30 per cent increase in net profit, it has shown no notable compound growth in turnover since 2007/08.