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The strategy is a 10-year plan to drive growth in UK financial services. -
The PRA will also have to report on turnaround time for new approvals against 10-day and six-week targets.
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The government is consulting on reforms to the existing regulations.
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The outcome of the consultation includes a detailed timetable for delivery.
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State legislation has led to major strides in rate adequacy.
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The trade body sent an open letter to the UK Chancellor ahead of her Mansion House speech.
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Claims chiefs are caught between technological advancement and waiting for phase two
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Cultural transformation, education, and leadership are also essential to creating safe workplaces.
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The PRA, FCA and Society of Lloyd’s have agreed to the changes.
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The challenge now is balancing top-line growth with underwriting discipline amid falling rates.
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The new chair said the market must adapt for 2030 and beyond.
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The FCA is reviewing how it can simplify regulation for commercial insurers.
