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The Corporation’s sustainability director Rebekah Clements will sit on the scheme’s steering committee. -
The regulator called the descriptions of data sources used by ratings providers “particularly poor”.
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Not only could raising venture debt become increasingly difficult for the sector, but InsurTech companies could also struggle to access their credit lines.
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In the Spring Budget, chancellor Jeremy Hunt said he would also look to help the AI sector prosper in the next decade.
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S&P plans to publish a capital model prototype with its revised proposals for ratings methodologies, in its latest move to seek market feedback.
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The regulator has set out priorities for monitoring climate risks for the financial system and how it will address climate-related gaps in the regulatory regime.
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The BMA also expects Bermudian insurers to consider double materiality in their reporting, as well as their own external climate-change impact.
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S&P published its first consultation on proposed changes to its risk-based capital adequacy methodology in December 2021.
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The regulatory reform will require the PRA to change the shape of what the directorate does, according to BoE’s Sam Woods.
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The annual risk of failure for life insurance firms increases from 0.5% to 0.6% using the government’s proposed reforms.
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The regulator will propose quantitative metrics that Parliament could use to hold the regulator accountable for achieving a new growth objective.
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The committee will represent the views of managing agents and provide guidance and advice to the underwriting community.
