All AFM members meet exemption threshold
The Prudential Regulatory Authority has announced that small insurers will no longer be required to have their annual Solvency and Financial Condition Report (SFCR) externally audited. The decision comes following a lobbying campaign from the Association of Financial Mutuals (AFM), which provided evidence that PS25/18 (‘Solvency 2: external audit of the public disclosure requirement') was a very costly exercise and duplicated verification work elsewhere; it added pressure and in many cases more...
Coronavirus Job Retention Scheme update
From Wednesday 20 May
'Insurers need to be clear on how they deal with broker commission'
80% of monthly wages up to £2500