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Our newest annual evaluation of the UK insurance coverage regulatory panorama displays the massive quantity of regulatory change that has occurred during the last 12 months and that’s set to proceed in 2024.
Milestones reached in 2023 included the primary deadline for implementing the FCA’s new Client Obligation and the passing of the Monetary Companies and Markets Act 2023, laying the foundations for the introduction of a brand new UK Solvency II regime.
We additionally see main developments on the horizon inside the ESG and tech areas, together with an growing give attention to operational resilience and using important third events, using AI expertise by insurers and intermediaries, and the introduction of latest anti-greenwashing guidelines.
We discover these modifications, and plenty of extra, inside the context of our 5 key themes for 2024:
- Publish-Brexit reform of the UK regulatory framework
- PRA give attention to capital administration
- Company and product governance
- Digitisation and operational resilience
- “Inexperienced” initiatives
To entry our full publication, please click on right here.
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