Regulation

The Financial Services Compensation Scheme (FSCS) has confirmed it will not be calling for a supplementary levy for the remainder of the 2021-22 financial year.

The UK Supreme Court has ruled in Google’s favour in a data protection case that could have sparked millions of payouts for Apple iPhone users and left insurers exposed to liability and cyber claims.

The proposals include changes to the regulators' statutory objectives and enhanced accountability mechanisms.

Financial authorities must ‘massively expand’ risk-sharing pools.

The UK’s largest firms including insurers and brokers will be mandated to disclose climate-related financial information from April.

The regulator plans to switch its supervisory approach from assessing the implementation of climate-related expectations to “actively supervising against them”.

Insurance Insider takes a deep dive into the challenges facing the #2 run-off player following a regulatory probe, management turnover and a big 2020 loss.

The regulator has flagged to London carriers the risks arising from transformation programmes across the market.

New FCA rules apply to all personal and commercial general insurance products but does exclude large risks and reinsurance.

Arguments will be heard from 8 November in the case.

The ratings agency said the island would continue to provide a beneficial environment for carriers overall.

The chair said reform work at the regulator should be handed to a chair who can see it through to completion.