In this IIL London Market webinar, our speakers 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.

Description

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

Speakers

• Hugh Savill, Senior Adviser, Sicsic Advisory
• Michael Sicsic, Managing Partner, Sicsic Advisory
• Chair: Malcolm Newman, Managing Director, Scor.