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The government has admitted it cannot predict the impact of Solvency II capital requirements on consumer prices.
Representatives of the European insurance industry have written to the European Commissioner for the Internal Market and Services, Michel Barnier, to ensure that the “overly conservative and prescriptive” elements it believes are contained in the draft implementing measures for Solvency II are addressed.
The Association of British Insurers has questioned the Insurance and Occupational Pensions Authority’s decision to schedule a stress test during the implementation of Solvency II.
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The FSA will spend £100m implementing EU-wide insurance regulation Solvency II, which is "towards the low end" of original estimates but excludes "considerable" direct costs to the UK industry, FSA CEO Hector Sants says.
Over 40% of insurers are only in the preparatory stages of their Solvency II projects, or have yet to begin, PwC says.
New EU rules on the solvency of workplace pensions could force some Defined Benefit (DB) schemes to close, the National Association of Pension Funds (NAPF) warns.
Would you be interested in being involved in a body encompassing all intermediaries, providers, re-insurers and bancassurers, solely for promoting the interests of protection insurance?
Experts are bracing themselves for a "firesale" of protection products next year ahead of a rule change which could see premiums soar by 10%.
Advisers and consumer groups are calling on the FSA to reveal the identity of the two with-profits providers this week referred to its enforcement division.
Solvency II, the EU directive which will massively increase capital requirements for UK life companies, has been postponed for two months.
The get-tough attitude of the FSA in response to the credit crunch has produced a second successive year of record breaking fines.
Insurance intermediaries have come under fire from the FSA for having inadequate financial resources.
Little-known changes to the way provider tax is calculated under Solvency II will push up premiums with no added benefit to customers, LV='s head of protection says.
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