Addleshaw Goddard

UK 200 2014 position: 22

InSure — July 2014: FCA review into insurance price-comparison websites; Insurance Bill introduced; and more

This month’s round-up of developments affecting the insurance industry sees the Financial Conduct Authority (FCA) publish a thematic review into insurance price-comparison websites; the Insurance Bill being introduced into UK Parliament; and the Chartered Insurance Institute (CII) publish guidance on whistleblowing.


General update

  • IAIS consults on draft application paper on supervisory colleges
  • EIOPA follow up on PPI
  • EIOPA speeches
  • PRA speech on recent developments in prudential supervision of insurers
  • ABI comments on solicitors professional indemnity insurance
  • ABI responds to Transport Committee report on motor insurance
  • ABI calls for further clarity for customers
  • Guidelines on motor claims history declarations released
  • ABI response to HM Treasury Freedom and choice in pensions announcement on the Guidance Guarantee
  • CII guidance on whistleblowing
  • FOS publishes ombudsman news issue 118

New legislation and consultations

  • Government introduces new Insurance Bill
  • EIOPA consultation: draft guidelines on LEI use
  • IAIS issues second consultation on Basic Capital Requirements for Global Systemically Important Insurers
  • Solvency II update
  • EIOPA stress test and Q&A
  • Corrigendum to Solvency II published
  • EIOPA updates Q&As on submission of information to NCAs

Regulatory developments

  • FCA thematic review into insurance price-comparison websites
  • BIBA urges FCA to act on comparison website findings
  • EBA publishes final draft RTS on minimum monetary amount of professional indemnity insurance
  • Lloyd’s publishes minimum standards that align with Solvency II
  • PRA policy statement on 2014-15 regulatory fees and levies
  • Consistency required for over-the-counter derivatives rules
  • Transfers of insurance business can take place between UK and Gibraltar insurers
  • Lloyd’s agreement with US revenue authority on reporting of tax information under FATCA

Click on the link below to read the Addleshaw Goddard briefing.

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