The UK's new regulatory framework for insurance
In this IIL London Market webinar, Hugh Savill and Michael Sicsic talk about the UK's decision to leave the EU and how it created the opportunity to tailor insurance regulation to the needs of the British insurance market. After years of debate, the main contours of the new system are now clear and there will be further consultation on the details.
The 'Edinburgh Reforms' are the Government's flagship revision of financial services regulation. For insurance, they cover Solvency II, the SMCR and the Insurance Distribution Directive. Meanwhile, the Financial Services and Markets Bill is passing through Parliament and will alter the way our regulators behave. This presentation examines each in turn and draws out the implications for the London Market.
Learning objectives:
- Why the improvements to Solvency II are worth having, but not life-changing for commercial insurance
- Why the regulators are likely to resist substantive change to the SMCR
- Revision of the IDD as an opportunity to rationalise the scope of conduct regulation - but the consumer duty is here to stay
Chair: Malcolm Newman, Managing Director, Scor.
Venue
Booking information:
You will be sent a confirmation email shortly after booking. If you have not received this within one hour, please contact Patricia Pedraza (020 7397 3911).
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