All PRA articles
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News AnalysisTechTalk: AI uptick could see firms needing insurance to cover ‘mishaps’
While the onus for responsible use of AI currently lies with the regulator, should the insurance sector be addressing these concerns as a matter of priority?
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NewsInsurance industry to face ‘dynamic’ stress tests
’The dynamic nature of the exercise represents a significant change from previous exercises,’ says regulator
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News AnalysisTechTalk: ‘Licensing process is a maze’ for insurtechs tied up in complex regulation
For insurtechs applying for a carrier licence for example could hold options but due to complicated and lengthy approval periods it may not be suitable for all, which means Gibraltar remains popular
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News‘Appears to be sensible’ – Reaction as PRA launches Solvency II reform consultation
’The measures will reduce bureaucracy, facilitate competition, and support UK economic growth and competitiveness’ says PRA chief executive
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News‘Landmark legislation’ – Biba praises new Financial Services and Markets Bill
’Proportionality is essential for a competitive market,’ says executive director
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NewsLemonade becomes first Insurtech UK member to be awarded carrier licence
’It is an important milestone for other insurtechs alike and is encouraging for the sector in the UK,’ says co-chair
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News AnalysisTechTalk: UK ‘lagging behind’ with R&D tax relief in AI ‘Wild West’
Clawing back R&D tax relief can be crucial for insurtechs and startup brokers but compliance around it needs improving if the sector is to take advantage of the potential of AI
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NewsBank of England warns insurers of capital ‘uncertainty’ over climate risks
The regulator warned the ’uncertainty represents a risk appetite challenge for micro and macroprudential regulators’
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NewsInsurtech sector breathes sigh of relief following SVB UK HSBC rescue deal
The government is ‘working urgently’ to limit the potential fallout, says UK prime minister
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NewsPRA to consult on new rules to support struggling insurers
The regulator’s aim is to clarify the support available to insurers when they hit financial difficulty
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NewsPRA identifies improvement areas for GI losses
Some common gaps in data and modelling were also highlighted
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NewsDale Partners receives approval to launch new managing agency in Lloyd’s
The business has hired four independent non-executive directors to play an ‘invaluable’ role in the launch as part of the agency’s board
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NewsInsurance industry welcomes Liz Truss as new prime minister
The ‘back to the future’ proposal of merging the FCA, PRA and PSR is still a possibility, says global head of financial regulation
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NewsLiz Truss prime minister victory could spell FCA and PRA merger
Any regulator - combined or separate - must be ’accountable, agile [and] responsive’, says compliance expert
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NewsClimate change will become a ‘persistent drag’ on insurers’ profitability
Projections show that insurers are likely to be able to bear the costs of the transition to net zero, however
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AnalysisHouse of Lords advocates more proportional regulation for London market
Inquiry calls for ‘broader reassessment of regulatory culture’ as current London market oversight is described as ‘inflexible’ and ‘unnecessarily complex’ by committee chair
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AnalysisESG concerns look set to grow
’ESG reputation could become as important as product, service and price,’ says Allianz Commercial’s chief underwriting officer
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AnalysisBriefing: London market regulatory reconstruction bid flies in face of FCA’s get tough plans
The amount of regulation in the industry is yet again the bone of contention, with the London market and FCA seemingly on opposite sides of the debate
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NewsMP John Glen proposes insurance industry overhaul in Solvency II reform
A new Brexit Freedoms Bill will be brought forward too
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NewsGovernment’s post-Brexit financial services regulation proposals could see insurance sector ‘flourish’
The consultation on the future regulatory framework will close on 9 February next year
