Due to go live on 1st January 2023, IFRS 17 represents the biggest change in insurance accounting in recent years. This content highlights how insurers can overcome the challenges posed by cash flow matching, the benefits of automation and top tips to achieve compliance.
As the Irish broking market steadies itself after the buffeting from the swirling winds of Brexit and Covid it faces a fresh challenge: consolidation. This article focuses on how Ireland's broker market is developing and how consolidation is impacting the market.
The UK insurance industry is on the verge of a ‘big bang’. Post-Brexit deregulation and digital transformation are reducing red tape, while unblocking innovation and investment. This blog highlights why creating a smarter insurance industry also depends on a parallel revolution in the back-office.
As insurance looks back on a difficult period for customers, for tackling insurance fraud and for claims – it’s important to come together as a community and respond with solutions in the industry. The blog highlights how the insurance industry can overcome consumer cynicism to help tackle fraud.
There would be serious consequences for the insurance market if escalation of tensions between the major western democracies and China arose. This article explores why insurance companies are burying their heads in the sand about the issue, rather than preparing for risks.
This article looks a little deeper into the announcement in February 2021 by the Transport Secretary of the government’s “plan to scrap EU law, ensuring British drivers avoid £50 a year insurance hike” and discusses what this might mean in practice.
Staying compliant and keeping customers’ data safe must be a top priority for all insurers. This blog provides a breakdown of some of the most important global legislation that will impact insurance operations, and the steps insurers can take to protect data privacy.
This FOIL Update covers two related articles which look at the current position with cross-border claims from 11.00 p.m. on 31 December and EU proposals for a reformed Motor Insurance Directive.
At FOIL’s recent roundtable, three experts provided their views on the Brexit landscape as far as motor insurance law is concerned. This summary looks at the concerns expressed by the speakers and what they believe the current position to be.
With Covid-19 amplifying the importance of supply chain resilience within the insurance value chain, this content highlights why insurance firms, including insurers and brokers need to exercise more control over third parties to enhance overall resilience.