Lawyer Monthly’s Post

A point of reference in the complex insurance world...

Understanding Key Regulations for Insurance Brokers. Navigating the insurance landscape requires a solid grasp of the regulations that impact brokers. Here are some major ones to keep in mind. #InsuranceBrokers #InsuranceRegulations #IRDAI #Compliance #InsuranceIndustry

UK insurance regulation has seen significant development in 2023 and this looks to continue in 2024. The HSF Insurance team explores the key areas of change in the latest instalment of our Insurance Notes blog. To keep up with the latest insurance sector developments, subscribe to the blog here: https://lnkd.in/etp_qmrM. #insurancelaw #pra #solvencyii #consumerduty #operationalresilience

Uncover how the insurance industry is revolutionizing with insurtechs—upgrading systems for IFRS 17 compliance, debating collaboration versus competition, and enhancing claims with technology. #insurance #insurtech #technology https://lnkd.in/e3X7tJ5s

QBE Insurance Group has released its performance update for the first quarter of 2024, revealing a modest uptick in gross written premium (GWP) during this period. In Q1 of 2024, QBE reported a GWP of $7.8 billion, marking a 2% increase compared to the $7.6 billion recorded in the corresponding quarter of 2023. QBE is forecasting a combined operating ratio of approximately 93.5% for the full year. Commenting on the report, QBE's Group Chief Executive Officer Andrew Horton said: “In summary, we’ve had a good start to the year. Markets remain supportive, with continued momentum in gross written premium, while underwriting performance is tracking to plan.” #insurtechinsights #insurancenews #report https://lnkd.in/gFMDDsiz

Application development teams need fast, reliable test data but are constrained by the speed, quality, security, and costs of moving data to environments during the SDLC. As such, many companies rely on costly TDM's. With QMT, Emtech's QA software solution, which has an AUTOMATED Test Data Generation feature, companies can reduce or eliminate this spend. Give this blog post a read to learn more!

Zala Insurtech News: QuoteWell, a technology-driven insurance wholesale broker, has partnered with the Independent Insurance Agents of Texas (IIAT).  The post QuoteWell and IIAT Forge Partnership to Transform Insurance Brokerage appeared first on Insurtech Insights. Read on below >> #insurance #innovation #insurtech

Insurance companies face complex audit rules across states. At LBMC, we specialize in guiding clients through these regulations, making audits easier. Need help with compliance? Let’s connect! #Insurance #AuditExperts #Compliance #LBMC

👀 Enhancing Insurance Pricing Capabilities 👀 “From an advisory point of view, I have observed for several years deep and moving trends in the Spanish insurance market. Numerous factors influence the entire pricing value chain, including regulatory developments, inflation, the need for transparency and ethics, and more. From this standpoint, Actuaries in non-life, and in particular in Auto are facing a situation that has never taken place in the past, the combination of: relevant changes in drivers habits, the introduction of ADAS and EVs and specially, double digit increases of premiums driven by hyperinflation.” https://lnkd.in/dUv6APyz #management #insurance #pricing

Monitoring and data is definitely one of the Consumer Duty areas that sparks the most questions when talking to clients. It's also particularly important right now with just over 3 weeks left before the first board reports containing the results of all that monitoring are due to be approved. The FCA's recent multi-firm review of consumer duty monitoring approaches in large insurance firms as a result makes for an interesting read for all firms. In our latest article for Outlaw, Chris Riach and I look at the FCA's findings and the points firms need to be alert too when looking ahead to potential further FCA action. #financialregulation, #consumerduty, #fca, #insurance, #financialservices https://lnkd.in/enKgR_XX