Category Archives: Financial Services

On the Front Lines of the Cyber Battlefield

state-sponsored terrorists

This week's headlines highlight the risk of state-sponsored cyber terrorists--but cyber policies often include a war exclusion that could put coverage in jeopardy. Continue reading →

A Risk and Insurance Christmas Carol

Modern Ebenezer Scrooge

In Charles Dickens’ classic, A Christmas Carol, we join a forlorn Ebenezer Scrooge on a journey across his past, present and future. This timeless tale shows us that a lack of perspective, perception and reflection can set us, and those … Continue reading →

The 12 Risks of Christmas: How We Helped Santa This Year

Santa-List-645x400

Everyone knows Santa to be a great humanitarian and a “jolly old elf,” but he wants to be known for something else: business transparency. So, in our latest client meeting with St. Nick and his senior elf management, they asked … Continue reading →

Bitcoin: Impossible to Insure?

bitcoin hacking incident

Virtual currency may be an inevitable part of our increasingly virtual world, but that doesn’t mean insurance companies have to like it – or insure it. Insurers are comfortable with what they know – with what they can measure and … Continue reading →

Millennials: Creating Alternatives in Asset Management

millennial money matters

My last post was about how Millennials are changing how we bank. Since then Applepay and SnapCash have arrived, more evidence of banking disintermediation. But it’s not just banks; Millennials are also driving disintermediation in asset management that is changing how … Continue reading →

Operational Risk Capital for Banks: 3 Changes to Keep an Eye on

euro money bags

Whether a so-called AMA bank, or a bank adhering to the simpler, standardized approaches for calculating operational risk regulatory capital needs – some important changes are waiting to materialize around the corner. All of them are aimed at restoring lost … Continue reading →

Martin Wheatley Interview: The Future of Regulation

Martin Wheatley interview

Willis and the Chartered Institute for Securities & Investment (CISI) welcomed Martin Wheatley, CEO of the Financial Conduct Authority to a full house in the Willis Auditorium in London for a discussion on Thursday November 20th. Continue reading →

5 Ways to Strengthen the FCA, PRA and Insurance Industry Relationship

teammates

Today, the insurance industry’s relationship with the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) is strong. Looking to the future, there are five ways to further strengthen our relationship to ensure that together we respond positively to the … Continue reading →

US Long-Arm Jurisdiction Creates New Terrorism Headaches for Banks (Among Others)

terrorism funding

I am indebted to John Blancett, partner of law firm SDMA for drawing my attention to a startling decision of the US Court of Appeal for the Second Circuit: Tzvi Weiss et al. v. National Westminster Bank Plc (judgment delivered … Continue reading →

5 Tips to Prepare for the Senior Managers Regime

senior management regime

On 23 October the Treasury Committee published its report, Project Verde, in which it was highly critical of the current Approved Person’s Regime. Continue reading →