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The EU, meanwhile, is proposing a law that would allow EU governments to confiscate assets of companies and individuals that try to avoid EU restrictions against Russia. -
The industry body has proposed benchmarks to measure how reforms are working.
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The FCA is aiming to simplify listings rules to help boost conditions for competitiveness around IPOs.
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The regulator is proposing changes to suitability assessments for insurers, incorporating sustainability measures.
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State senators will vote on the bill on the Senate floor tomorrow.
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The Financial Reporting Council has found evidence where audits of insurers’ financial statements have not been rigorous enough.
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A key plank will be a Reinsurance to Assist Policyholders (RAP) program providing a $2bn reinsurance layer below the FHCF.
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Insurers and brokers have been cutting their ties with Russia following the country’s invasion of Ukraine.
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(Re)insurers are steadfast on the need for underlying tort and roofing reform – but failures might mean emergency measures are also on the table.
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Sources close to the industry are calling for litigation reform as a priority, while Florida Hurricane Catastrophe Fund expansion is also on the cards.
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Biba’s chairman said the UK regulator was affecting “competition, productivity and the ability to innovate”.
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An FCA letter to the government suggests various ways to resolve issues around soaring pricing on medium- and high-rise properties with multiple occupancy.
