Insurance regulatory timeline

Our regulatory timeline lists the key dates for insurance firms between now and 2019, including summaries of each development and links to our briefing notes.


2018 (date not known)

Insurance

FCA to issue finalised guidance following its consultation on the approach to the review of portfolio transfers under Part 7 of FSMA.

2018 (date not known)

Insurance

FCA to publish feedback statement on its findings from June 2017 call for input on access to insurance.

2018 (date not known)

Insurance

European Commission to carry out an assessment of whether Solvency II Directive should be amended in relation to the treatment of private equity and privately placed debt.

26 April 2018

Insurance

Delegated Regulation ((EU) 2018/541), amending the application date of the two delegated regulations under the Insurance Distribution Directive, comes into effect.

9 May 2018

Financial crime

Required date of transposition of Cyber-security Directive.

11 May 2018

Insurance

Closing date for the submission on comments to EIOPA in relation to amendments to implementing technical standards on reporting and disclosure under Solvency II.

25 May 2018

Data protection

General Data Protection Regulation comes into effect.

21 May 2018

General regulation

Deadline for the submission of comments on PRA consultation paper 7/18: Regulated fees and levies: rates proposals 2018/19 (CP7/18).

1 June 2018

General regulation

Deadline for the submission of comments on FCA consultation paper 18/10: FCA regulated fees and levies: rates proposals 2018/19 (CP18/10)

1 July 2018

Insurance

Delayed transposition date for the Insurance Distribution Directive.

11 July 2018

Insurance

Closing date for PRA consultation paper (CP9/18) on considering applications from internal models firms that include a dynamic volatility adjustment (DVA) under Solvency II.

11 July 2018

Insurance

Closing date for PRA consultation paper (CP8/18) on the external audit of the public disclosure requirement under Solvency II.

Summer 2018

Insurance

Civil Liability Bill expected to receive Royal Assent, setting out the process for the setting of the Personal Injury Discount Rate.

Summer 2018

Individual Accountability

Publication of final rules in relation to implementation of the SM&CR to insurers and insurance intermediaries.

Summer 2018

Insurance

Launch of IAIS field testing of the Insurance Capital Standard 1.0.

Summer 2018

Insurance

International Association of Insurance Supervisors expected to publish consultation on ComFrame.

Summer/Autumn 2018

Insurance

FCA to undertake review of value in the insurance distribution chain (Phase 1).

1 October 2018

Insurance

Insurance Distribution Directive comes into effect.

Late 2018

Insurance

Wholesale Insurance Broker Market Study report on findings to be published by the FCA.

December 2018

Insurance

By this date the European Commission intends to have completed its review of specific items relating to the standard formula under the Solvency II Delegated Regulation.

1 December 2018

Individual accountability

SM&CR to be applied to insurers.

31 December 2018

General regulation

Deadline by which the European Commission must review the PRIIPs Regulation.

End of 2018

Global insurance regulation

IAIS is expected to have completed its implementation assessments of all Insurance Core Principles.

End of 2018

Global insurance regulation

IAIS to consult on review of systemic risk assessment.

End of 2018

Insurance

FCA to conduct thematic review into the fair treatment of with-profits customers.

Early 2019

Insurance

FCA to carry out diagnostic work to assess whether motor insurers and brokers are inflating claims submitted to Claims Management Companies (CMCs) and keeping volume discounts from their own repairers.

Early 2019

General insurance regulation

FCA to take over the regulation of claims management companies.

29 August 2019

Insurance

Deadline for the submission of PPI complaints.

November 2019

General insurance regulation

IAIS to adopt revised Insurance Core Principles and ComFrame