by Kenneth Underhill | May 16, 2023 | Compliance, Consumer Duty, Fair value, Insurers
ICSR is delighted to announce it has entered into a formal collaboration with VisRisk, allowing it to offer clients access to a Fair Value Assessment toolkit that streamlines processes and provides a full evidence trail of the work performed on fair value compliance....
by Claire King | May 16, 2023 | Climate Change, Compliance, Enterprise Risk Management, Environmental Social and Governance, Insurers, Operational Resilience, Prudential Regulation Authority, Risk, Solvency
The PRA Business Plan was released in early May and sets out their workplan, strategy and budget for the 2023/24 period of activity. As a key public statement from the Regulator, its importance in understanding the focus for the coming year sits alongside the earlier...
by Palak Bedi | May 12, 2023 | Compliance, Fair value, FCA, Insurers, Multi Occupancy Buildings Insurance, Product Governance
The FCA have published a Consultation Paper (CP23/8 – Multi-occupancy building insurance) detailing their proposed reforms to the multi-occupancy building insurance market. Published on 21st April, the consultation period runs to 9th June and contains a number...
by Claire King | Jan 18, 2023 | Compliance, FCA, Insurers, Operational Resilience, Operations, Prudential Regulation Authority
In the wake of the extensive, and sometimes painful, Operational Resilience projects which have been undertaken by the financial services sector over the last 18 months, comes a sobering reminder of why this regulation is so important. In December 2022, the PRA and...
by Andrew Carrick | Oct 5, 2022 | Compliance, FCA, ICSR News, Product Governance
The recent report by the FCA on Multi-Occupancy Buildings will prompt much thought and activity. Kenneth Underhill has looked at the general issues in his article “FCA Update – Multi-Occupancy Buildings Insurance”. One specific consideration that brokers in particular...
by Kenneth Underhill | Sep 28, 2022 | Compliance, Consumer Duty, FCA, ICSR News, Product Governance
A Warning Shot Across The Bows, Or The Opening Salvo From The Regulator? The FCA has updated insurance firms on its plans for addressing the issues that it has been investigating around the placement of insurance for multi-occupancy buildings following an intervention...