by Kenneth Underhill | Apr 8, 2022 | Compliance, FCA, Operations, Risk
On 7th April 2022, the FCA released their updated 3 year strategy setting out their vision and ambitions for the period, along with the 2022/23 Business Plan. These documents reflect the shift in regulatory style Nikhil Rathi signalled on his arrival at the FCA when...
by Kenneth Underhill | Mar 15, 2022 | FCA, Operations, Prudential Regulation Authority
Report Contents Introduction Governance Capital Underwriting Reinsurance Claims Actuarial Risk Compliance Internal Audit IT Corporate Additional Changes Summary Introduction There is a trend for MGAs to look at changing from an MGA model into a full insurer. Our...
by Craig Umbleja | Mar 11, 2022 | Compliance, FCA, Product Governance
The FCA have started to gather information on the way in which insurance for multi-occupancy buildings is negotiated, placed and managed. Seemingly triggered by the significant increases in risk premium that result from the cladding scandal that followed the Grenfell...
by Nicky Hasler | Feb 10, 2022 | Compliance, FCA, Operational Resilience, Operations, Prudential Regulation Authority
As we approach the 31st March 2022, many firms will be asking themselves, have we done enough on Operational Resilience to satisfy the Prudential Regulatory Authority (PRA) and Financial Conduct Authority (FCA)? In March 2021, the PRA supplemented the Operational...
by Kenneth Underhill | Feb 2, 2022 | FCA, Prudential Regulation Authority
Register and download Q1 2022 Horizons ICSR has created its Horizons reporting service to assist those responsible for reporting on regulatory horizons by bringing together in one place all key regulatory issues for the insurance market. We hope that this will help...
by Kenneth Underhill | Dec 15, 2021 | Compliance, Consumer Duty, FCA
The new Consumer Duty is raising the bar when it comes to delivering positive outcomes for customers. The need for this is a recognition that the ‘Best Interests Rule’ it seeks to replace has not delivered the outcomes the FCA hoped for and there is a clear sense that...
