Keyword
Financial Conduct Authority
The difference between pandemic BI coverage and pushing a bus off a cliff
January 5, 2021 by Greg MeckbachCommercial clients who bought insurance covering a disease outbreak within 25 miles of their premises did not buy coverage for business interruption from a pandemic on a national scale, insurance company lawyers are telling the United Kingdom Supreme Court. Worldwide,…
Mixed result in British court ruling in business interruption coverage dispute
September 15, 2020 by Greg MeckbachIf a client has business interruption coverage “following” a notifiable disease within a certain distance, while another has coverage for BI “in consequence” of the same disease, one of those clients could be covered for its COVID-19 closure while the…
Ontario Securities Commission, U.K. regulator sign co-operation agreement on fintech businesses
February 23, 2017 by Canadian UnderwriterThe Ontario Securities Commission (OSC) and the United Kingdom’s Financial Conduct Authority (FCA) have signed a new agreement under which fintech businesses in both jurisdictions will be able to seek support from their financial regulators as they look to operate…
Wider mandate for Ontario’s auto insurance regulator would be welcomed
January 19, 2017 by Angela StelmakowichA wide mandate for the body regulating Ontario’s auto insurance sector – one that promotes competition, innovation and responsiveness – would be welcomed, Karin Ots, senior vice president of regulatory and government relations for Aviva Canada, suggested Thursday during a…
U.K. research shows value of financial conduct fines down by 36%, fine value against individuals more than double
June 20, 2016 by Canadian UnderwriterA new survey out of the United Kingdom indicates that over the last year, the value of Financial Conduct Authority (FCA) fines against individuals has more than doubled while, for companies, the value has dropped 37%. Overall, the FCA imposed…