Climate risk in financial services
Financial institutions must embed climate risks in line with investor, public and regulatory expectations.
Insurance
Practical guidance, commentary and support on the insurance sector for financial services professionals.
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In this section
ESG: the risks and opportunities
During September 2021 and October 2021, our event series enabled a better understanding of environmental, social and governance (ESG) risk.
Insurance Focus
FCA’s Consumer Duty: proposals take shape but are still a work in progress
An analysis of ICAEW’s response to the proposals.
How best to regulate the bank cloud boom?
The adoption of the cloud by banks is hard to regulate given the rapidly growing supply of services by third parties. But financial regulators are increasingly turning their sights on the megatrend.
Geopolitics: why the financial services sector needs to consider "the extra G"
Derek Leatherdale sets out why it is more important than ever for banks, insurers and investment managers to consider geopolitics in risk management.
However you measure, it inflation is a problem
Writing for ICAEW Financial Services Faculty, Sunday Times Economics Editor David Smith considers the debates around inflation.
Regulating the unregulated: How the FCA plans to clamp down on cryptocurrency advertising
The FCA has found a way to control how cryptocurrencies reach consumers.
Could supply chain issues cause problems for car finance funders?
The pandemic has caused plenty of problems for all manner of trade, especially the car market. But could problems with manufacturers spread into their finance operations? Chris Lemmon writes.
Crime, regulation and technology are top of the mind for insurance company Chief Risk Officers
ICAEW’s Zsuzsanna Schiff looks at the results of the Centre for the Study of Financial Innovation (CSFI) and PwC’s 2021 Insurance Banana Skins.
Is competitiveness key to the City’s future?
Laura Miller considers the trade offs in ensuring the City of London maintains a competitive edge.
ICAEW REP 007-22 Response to IFRS 17 DECA Invitation to comment
IFRS 17 is the first major accounting standard that needs to be endorsed by the UK Endorsement Board following Brexit. Following EFRAG’s endorsement in the EU, the UKEB invited stakeholders to comment on its draft assessment criteria. The following response was produced by ICAEW’s Insurance Committee and its IFRS17 Discussion Group following years of debating technical issues around the standard.
International Technical Updates January 2022
Our roundup of regulatory news.
IFRS 17 the CSM for annuity contracts debate
The method for amortising the CSM for annuity contracts has been heavily debated in the UK as part of the implementation of IFRS 17 Insurance Contracts.
IFRS 17 letter to the IASB Nov 2021
A letter sent by ICAEW members from UK insurers and accounting firms following UK Endorsement Board’s suggestion of engagement on the alternative approaches to amortising the contractual service margin for annuity contracts under IFRS 17 which have been discussed in the UK market.
Regulation
ICAEW REP 98/21 Review of Solvency II Reporting (Phase 1)
A response dated 8 October 2021 to a consultation published by PRA on 8 July 2021.
Five steps for business after the loyalty penalty changes
ICAEW’s John Mongelard looks at why the recent Financial Conduct Authority (FCA) consultation, ‘A new Consumer Duty’ is critical for CFOs.
ICAEW REP 20/21 Review of Solvency II
A response dated 19 February 2021 to a consultation published by HMT on 19 October 2020.
Libor transition - what you need to know
What is LIBOR and what you need to know
Find out what is IBOR reform, why LIBOR will be phased out and why it matters as well as the plan for the UK, challenges and risks.
The transition away from Sterling LIBOR
A simple introductory guide for businesses to the global transition away from (Sterling £) LIBOR provided by ACT, CBI, ICAEW and UK Finance.
Transitioning from LIBOR
The end of LIBOR will mean some big changes for businesses. The end date of December 2021 may seem a long way off, but companies need to start preparing now.
Corporate governance
Crime, regulation and technology are top of the mind for insurance company Chief Risk Officers
ICAEW’s Zsuzsanna Schiff looks at the results of the Centre for the Study of Financial Innovation (CSFI) and PwC’s 2021 Insurance Banana Skins.
8 ways the 5th Anti Money Laundering Directive will affect financial services firms
The European Commission are now applying more focus on anti-money laundering risks and have said that they may open infringement proceedings against countries lagging behind on the new anti-money-laundering rules.
Counting on ethics when it comes to data management
Paula Smith examines how a strong ethical approach can help financial services firms cope with the changing world of data management
Reduce the size of board packs
Following the publication of the Financial Services Faculty’s Information Overload Report earlier this year Hitesh Patel non-executive director at Aviva and chair of the ICAEW Insurance Committee and Zsuzsanna Schiff discuss how board packs can and should be improved
Technical updates July 2019
Our roundup of regulatory news.
Audit and risk committee effectiveness in financial services
In this webinar we will cover three challenges for committees, and practical suggestions for how to work more effectively and efficiently.
ICAEW's guide to directors' duties and responsibilities
This ICAEW guide provides an overview of directors' duties and responsibilities, including on internal governance, transactions between a company and its directors or shareholders, and corporate administration. It also covers responsibilities in relation to insolvent or financially challenged companies, as well as penalties for breach of directors' responsibilities.
Pre-recorded webinars
IFRS 17 Insurance Contracts for non-insurers
Despite not being an insurer, entities may have contracts that fall in scope of IFRS 17 Insurance Contracts. Find out if you’re affected with this webinar.
Risk in times of uncertainty - A guide to Cyber and PII
This is an insightful, relevant and practical webinar on the current state of the cyber and professional indemnity insurance markets, the risks you need to be aware of as an accountant.
Reduce the size of board packs
Following the publication of the Financial Services Faculty’s Information Overload Report earlier this year Hitesh Patel non-executive director at Aviva and chair of the ICAEW Insurance Committee and Zsuzsanna Schiff discuss how board packs can and should be improved
IFRS 9 Financial Instruments
This webinar is designed to inform the audience of the key component parts for generating the new Expected Credit Loss (ECL) calculations, also known as Impairment provisions, as required under International Financial Reporting Standard 9.
Helpsheets
Avoiding information overload insurance
This guide offers practical examples and checklists for those working in or with the insurance industry to avoid information overload.
Client Assets Sourcebook (CASS) and Outsourcing
Information for CASS auditors when determining procedures over outsourcing arrangements and how they apply to the CASS rules.
Senior Managers and Certification Regime
The Senior Managers and Certification Regime is a new regulatory framework which aims to improve individual accountability.
Benchmark reform
Alternative reference rates and transition from LIBOR.
Inspiring confidence
ICAEW's Inspiring Confidence campaign explores the issues affecting consumers and financial services providers in a rapidly changing world.
Banks, insurers and investment managers play vitally important roles within society, to encourage economic development and allow individuals and businesses to save, invest, insure and make payments. We must have confidence in them. Responsible providers, responsible consumers, better regulation and better information underpin this confidence.
Join Insurance membership
Insurance is complex and constantly evolving. Our unique perspective and ability to convene with stakeholders right across the financial services landscape, means we can provide you with industry insights, expert opinion, analysis and independent resources to put you ahead of the curve.