BIBA tells UK Treasury IPT is ‘Budget no-go’

BIBA tells UK Treasury IPT is ‘Budget no-go’

BIBA tells UK Treasury IPT is ‘Budget no-go’

The British Insurance Brokers’ Association (BIBA) has told HM Treasury that insurance premium tax (IPT ) is a “Budget no-go”, as the UK’s Chancellor of the Exchequer prepares his autumn Budget this week. In its submission to HM Treasury, BIBA set out the reasons why the Chancellor should heed warnings that IPT is too high in the UK. BIBA said…

Sompo to create European base in Luxembourg as expansion plans pick up pace

Sompo to create European base in Luxembourg as expansion plans pick up pace

Sompo to create European base in Luxembourg as expansion plans pick up pace

Sompo International (SI), the global insurer led by John Charman and formed through the acquisition of Endurance by Japan’s Sompo earlier this year, has announced the next big step in its ambitious strategy to become a serious player in the European and global commercial and corporate insurance sector. The company announced this week that it plans to establish a new…

The ghost of Spitzer walks again?

The ghost of Spitzer walks again?

The ghost of Spitzer walks again?

News broke in recent weeks that the UK’s Financial Conduct Authority (FCA) has opened an inquiry into the wholesale insurance broking sector, to make sure that it fosters innovation and competition in the interests of consumers. It appears that the focus of this inquiry will be on broker facilities. At the end of October, the European Commission (EC) also confirmed…

UK risk managers warned to comply with GDPR despite Brexit

UK risk managers warned to comply with GDPR despite Brexit

UK risk managers warned to comply with GDPR despite Brexit

Uk risk managers and their bosses need to forget the idea that Brexit will somehow let them off the hook when it comes to the EU’s forthcoming General Data Protection Regulations (GDPR). The UK will have to apply the tough new rules for at least ten months and probably beyond if its companies want to continue receiving personal data from…

Aon’s Brexit tool helping risk managers make informed decisions

Aon’s Brexit tool helping risk managers make informed decisions

Aon’s Brexit tool helping risk managers make informed decisions

Aon’s Brexit Navigator tool provides risk managers with an opportunity to better influence organisations’ response to Brexit, and arms them with information to take their rightful seat at the top table on such discussions, according to David Molony, senior consultant at Aon Risk Solutions. Mr Molony told CRE most risk managers are doing all they can to help their companies…

Collaboration key to supply chain risk management

Collaboration key to supply chain risk management

Collaboration key to supply chain risk management

Supply chain risk is clearly a critical area for all companies that operate in today’s highly competitive, fast-changing and global market. The huge interest shown in Commercial Risk Europe’s supply chain conference in London on 12 December proves how important this topic has become and how keen risk managers are to learn how to more effectively identify, measure, manage and…

Airmic seeks to deliver tomorrow’s risk leaders

Airmic seeks to deliver tomorrow’s risk leaders

Airmic seeks to deliver tomorrow’s risk leaders

Airmic has launched its 2018/19 Risk Leadership Programme that aims to turn today’s senior risk professionals into tomorrow’s risk leaders. This follows the successful launch of the first Risk Leadership Programme this September. The programme is aimed at risk managers on the cusp of leadership roles, who want to take the next step in their career. It is entirely focused…

European business leaders meet UK PM to demand Brexit progress in next two weeks

European business leaders meet UK PM to demand Brexit progress in next two weeks

European business leaders meet UK PM to demand Brexit progress in next two weeks

A delegation of Europe’s business leaders has warned the UK prime minister that the country’s economic stability will be at risk if its government fails to commit to a divorce settlement with the European Union within the next two weeks. In a meeting yesterday between Theresa May and European business representatives, led by BusinessEurope, the UK prime minister heard how…

Transparency International criticises UK’s anti-money laundering controls

Transparency International criticises UK’s anti-money laundering controls

Transparency International criticises UK’s anti-money laundering controls

The UK has been labelled a “destination of choice for those seeking to hide illicit wealth” by Transparency International UK, which warns that the country’s anti-money laundering controls are “woefully inadequate”. In an analysis of 52 cases of global corruption and money laundering worth up to £80bn, Transparency International identified links to 766 UK “shell” companies, with half of the…

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