by Claire King | Sep 8, 2023 | Enterprise Risk Management, Governance, Insurers, Risk
Financial risk is an inherent element of the insurance market and one our industry generally feels confident managing. But the emerging set of facts that surround InsurTech disruptor Vesttoo remind us all that we must remain vigilant to the risks we are exposing our...
by Kenneth Underhill | Apr 14, 2022 | Compliance, Governance, Lloyd's, Operations, Risk
The adoption of Lloyd’s new principles-based approach to market oversight is now well underway. Managing Agents should be well advanced with their self-assessment work for individual syndicates, ahead of the deadline of 29th April for the submission of completed...
by Kenneth Underhill | May 26, 2021 | FCA, Governance, Kenneth Underhill, Operational Resilience, Prudential Regulation Authority, Webinars
Watch the recording as Kenneth Underhill looks at the definitions of ‘Impact Tolerances’ and explores how firms should approach setting these across a multitude of scenarios aligned to their Important Business Services. You can download a copy of the slides here....
by Kenneth Underhill | Nov 9, 2020 | Culture, FCA, Governance, Pricing, Product Governance, Senior Managers and Certification Regime, Vulnerable customers
Amongst many new obligations placed on insurers and insurance brokers by the FCA, as it grapples with meeting its objective of preventing harm to consumers resulting from the coronavirus pandemic, is a requirement that product manufacturers review the value that their...
by Kenneth Underhill | Nov 3, 2020 | Brexit, Climate Change, Culture, FCA, Governance, Pricing, Vulnerable customers
If you have started thinking about which areas your board might be interested in focusing on in 2021, then please read on. We’ve spent a lot of our time in 2020 reading the minutiae of detail in FCA Business Plans, Consultation Papers, Guidance Notes and Policy...
by Kenneth Underhill | Jul 9, 2020 | Governance, Prudential Regulation Authority
At the end of May 2020, the PRA published SS 1/20, its Supervisory Statement introducing into effect the Prudent Person Principle (PPP) following a consultation process which resulted in some changes to the original proposals. There can be no doubt that the PRA was...
