Addleshaw Goddard

UK 200 2014 position: 22

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. 

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