Archive for July, 2010

BIBA’s Weekly Activity

Tuesday, July 27th, 2010

Dear Member  

This week’s top issues:
 

  • BIBA met HM Revenue & Customs to discuss VAT and IPT and separately to discuss inspection fees

  • BIBA met ABI re: discussions on broker access to driver licence records 

  • BIBA met Northern Ireland Consumer Council and The Office of the First Minister and Deputy First Minister to discuss insurance issues in Northern Ireland 

BIBA also:
  

  • Issued a brief questionnaire to members to help promote brokers in the media and the Government – Click here to take part in this brief survey 

  • Appeared on BBC Radio 1, BBC Radio Five Live and BBC Radio Ulster to discuss motor insurance and promote specialist brokers 

  • Issued three regulation updates for members – click here 

  • Attended FSA PI forum 

  • Held its Liability and Accident Committee meeting 

  • Met with SimplyFinance.co.uk to discuss and promote brokers 

  • Met with London Market Claims Council 
     

  • BIBA 2010 Conference & Exhibition
    Highlights from BIBA’s annual conference, ‘Professionalism in a changing world’, can be viewed at http://www.biba.org.uk/ including videos of plenary speakers and seminar sessions.

    For more information, please call the BIBA member helpline on 0844 77 00 266 

    Kind regards

    Eric Galbraith
    Chief Executive

    Kind regards

    Eric Galbraith
    Chief Executive

    BIBA’s Weekly Activity

    Tuesday, July 27th, 2010

    This week’s top issues:

    • BIBA met with FSA’s consultants as part of fundamental review of FSCS
    • BIBA took part in an Insurance Age Power Hour and presented at the Insurance Times broker forum on broker issues with the coalition government
    • BIBA met with Foreign and Commonwealth Office (FCO) to discuss travel insurance

    BIBA also:
     

    • Issued regulation update for members European Commission outlines proposals for insurance guarantee schemes
    • Met with publisher to discuss broker supplement in the Guardian
    • Met with British Security Industry Association (BSIA) to maintain a relationship on security matters within the industry
    • Held its first Tax Group meeting
    • Met with Adecose – the Spanish Insurance Brokers’ Association
    • Met with Finance & Leasing Association (FLA) to discuss continuous insurance enforcement  
    • Attended a Lloyd’s Live Debate on Globalisation: risks, challenges and opportunities for business
    • Held its General Insurance Brokers’ Committee meeting
    • Held its London Market Compliance Forum
    • Attended The International Takaful summit at the House of Lords
    • Met with Insurance Institute of Japan

      BIBA 2010 Conference & Exhibition
      Highlights from BIBA’s annual conference, ‘Professionalism in a changing world’, can be viewed at http://www.biba.org.uk/ including videos of plenary speakers and seminar sessions.

      For more information, please call the BIBA member helpline on 0844 77 00 266

    Kind regards

    Eric Galbraith
    Chief Executive

    BIBA’s Weekly Activity

    Tuesday, July 27th, 2010

    This week’s top issues:

    • BIBA, the Department for Transport (DfT) and the Driver and Vehicle Licensing Agency (DVLA) met with the motor fleet forum re. continuous insurance enforcement
    • BIBA met with the Financial Services Compensation Scheme (FSCS)re. broker levy
    • BIBA published its summer edition of The Broker magazine – Click here

    BIBA also:
     

    • Met with Association of Independent Financial Advisers (AIFA) re. FSA fees and levies
    • Met with Financial Services Practitioners’ Pannel re. fees and other issues
    • Attended ABI conference on surge flooding
    • Held Health Insurance Focus Group meeting and presented to cardiac arrest patients on travel insurance
    • Attended British Insurance Awards
    • Attended London Market Claims Club re. trade credit insurance
    • Discussed insurance issues with Mail on Sunday and Sunday Times
    • Issued regulation update for members on Financial sanctions related releases w/c 04.07.10 

      BIBA 2010 Conference & Exhibition
      Highlights from BIBA’s annual conference, ‘Professionalism in a changing world’, can be viewed at http://www.biba.org.uk/ including videos of plenary speakers and seminar sessions.

      For more information, please call the BIBA member helpline on 0844 77 00 266

    Kind regards

    Eric Galbraith
    Chief Executive

    BIBA’s Weekly Activity

    Tuesday, July 27th, 2010

    This week’s top issues:

    • BIBA attended FSA meeting on the fundamental review of the FSCS and posted its FSCS Key Facts regulatory update on the website Click Here
    • BIBA met HM Treasury’s Signposting Steering Group 

    BIBA also:

    • Attended review board meeting re employers’ liability tracing code, at the Department for Work and Pensions (DWP)
    • Met Driver and Vehicle Licensing Agency (DVLA) and the Department for Transport regarding broker access to DVLA driver records
    • Met the British Bankers’ Association (BBA) to discuss conditional lending and insurance
    • Met Government healthcare representatives from Singapore
    • Met CBI re issues with the new Coalition Government
    • Attended broker risk management seminar
    • Held compliance forum in Eastleigh
    • Attended post-budget Trade Associations Meeting
    • Hosted Partners’ meeting highlighting issues on resilient repairs, signposting/Equalities Act, insurance premium tax, sanctions lists and volcanic ash
    • Attended AMII Conference and Exhibition 

    For more information, please call the BIBA member helpline on 0844 77 00 266

     

    Kind regards

    Eric Galbraith
    Chief Executive

    HM Treasury publishes consultation on financial regulatory reform

    Monday, July 26th, 2010

    The Financial Secretary to The Treasury has today announced the launch of the Government’s consultation on financial regulatory reform.

    The consultation, entitled A new approach to financial regulation: judgement, focus and stability can be found on HM Treasury’s website at http://www.hm-treasury.gov.uk/d/consult_financial_regulation_condoc.pdf

     The consultation sets out the details announced last month – namely the creation of Financial Policy Committee (FPC) and Prudential Regulation Authority (PRA) within the Bank of England, and the Consumer Protection and Markets Authority (CPMA).

     The consultation paper raises a number of questions that HM Treasury would like answering. HM Treasury request that replies or any questions should be sent to financial.reform@hmtreasury.gsi.gov.uk  or by post to:- 

    Financial Regulatory Strategy

    HM Treasury

    1 Horse Guards Road

    London SW1A 2HQ

    The consultation closes on 18 October 2010.

    Should you wish to discuss this or any other aspect of the regulations, please contact:

    Steve White
    Head of Compliance and Training
    Tel. 020 7397 0222
    Email whites@biba.org.uk