The FCA Strategy & 2022/23 Business Plan: A Tougher Regulatory Approach
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. Kenneth Underhill looks at the details.
Iain Bremner Joins ICSR As Non-Executive Director
ICSR is delighted to announce the appointment of Iain Bremner as Non-Executive director with effect from 1st April 2022.
Capacity Seeker to Capacity Provider: The Implications of Moving From MGA to Full Stack Insurer
There is a trend for MGAs to look at changing from an MGA model into a full insurer. Kenneth underhill looks at the implications.
Product Governance: The Focus on Insurance for Multi-Occupancy Buildings
The FCA have started to gather information on the way in which insurance for multi-occupancy buildings is negotiated, placed and managed. Craig Umbleja looks at the issues for insurers and brokers.
Outsourcing and Third-Party Arrangements – Creating Resilience In Your Operational Processes
As we approach the 31st March 2022, many firms will be asking themselves, have we done enough on Operational Resilience to satisfy the PRA and FCA? Nicky Hasler looks at what firms should be doing.
ICSR Team News – Craig Umbleja
ICSR is delighted to announce the promotion of Craig Umbleja to the new role of Senior Compliance Manager. Craig will be responsible for all aspects of the operational oversight of work delivered by our growing compliance team made up of employees and specialists from within our Talent Pool.
ICSR Horizons – Regulatory Scanning – Q1 2022 Report Published
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. Register now to receive your copy.
PRA Insurance Supervision Priorities 2022
On 12th January, the PRA wrote to all life and general insurance CEOs, setting out their supervisory priorities for 2022. Kenneth Underhill looks at the key areas of focus highlighted by the PRA for 2022.
A New Consumer Duty – Raising the Bar In The Best Interests Of Customer Outcomes
The new Consumer Duty is raising the bar when it comes to delivering positive outcomes for customers and senior managers should take note. The FCA has entered the second phase of its consultation. Kenneth Underhill looks at the new rules.
Financial Crime Risk Assessment – A Continuous Cycle Of Improvement
The prevention of financial crime remains a key area of focus for the FCA. The risk of the insurance sector being used to facilitate financial crime continues to evolve. Nicky Hasler reminds firms of the need for a financial crime risk assessment that is regularly updated.
Appointed Representatives – A Root And Branch Review
The FCA and HM Treasury have issued co-ordinated papers on the Appointed Representatives (AR) regime. It amounts to a root and branch review of the business model and how it is overseen from a legislative and regulatory perspective. Craig Umbleja looks at the proposals and explains why firms need to take note now.
Webinar: Appointed Representatives – Managing the Regulatory Risks
On 15th November, in conjunction with the MGAA, Kenneth Underhill will be hosting a webinar looking at the current regulatory regime for Appointed Representatives as provided under the FSMA 2000, Register now.
