The regulator published its latest business plan earlier this week. The year over which it has outlined its priorities will, of course, come to an end as the UK formally leaves the EU and, assuming the outline treaty holds, begins a 21 month implementation period / transition phase. Among key cross sector priorities affecting general insurance (GI) firms are data security and resilience, treatment of existing customers (ie tackling the issue of dual pricing) and the ongoing prevention of financial crime. GI specific priorities include further work on customer value in long distribution chains and on competition in the wholesale broker sector. Continue reading
Two recent developments regarding the scope of (re)insurance protection against the consequences of terrorist incidents are noteworthy. Continue reading
Sir Rupert Jackson’s pithy foreword to his 2009 review of costs described his reforms as “a coherent package” designed to control litigation costs in civil claims. Most aspects of that package were implemented in April 2013.
As noted already on this blog, Jackson is now conducting a further enquiry into widening the scope of fixed recoverable legal costs and is seeking evidence and views by mid January 2017. His deadline more or less coincides with that set out in the Government’s latest ‘whiplash’ reforms – making for a busy Christmas and New Year for those of us working in this field.