InSure: developments affecting the insurance industry — December 2012
This month’s round-up of developments affecting the insurance industry sees the publication of consumer guides in relation to flooding and resulting compensation claims; the UK government announcing its Autumn Statement 2012; an ASA Adjudication relating to PPI texts originating in India; and the publication of the Equality Act 2010 (Amendment) Regulations 2012.
The Financial Services Compensation Scheme (FSCS) has published the November 2012 edition of its Outlook newsletter (the half year review). Of particular note, is the update on the rise in compensation costs which could affect the insurance intermediation sector. FSCS said in its August issue of Outlook, that because of this it expected to raise additional levies in the investment intermediation and insurance intermediation sectors. It has now said that it may have to increase a supplementary levy on general insurers for the same reason.
FCSC is facing deficits of just under £15m on general insurance provision, approximately £21m on general insurance intermediation and more than £25m on investment intermediation…
If you are registered and logged in to the site, click on the link below to read the rest of the Addleshaw Goddard briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from The Lawyer
Analysis from The Lawyer
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all
Could Slater & Gordon achieve its stated aim of becoming a top consumer brand by acquiring Pannone?