2. BIBA membership includes just under 2,000 regulated firms having merged with the Institute of Insurance Brokers (IIB) in November 2011.
|
|
- Abner Fisher
- 6 years ago
- Views:
Transcription
1 S:\Wp\Files\Current\Graeme\Nicola\2013\November 28 November 2013 The Scrutiny Committee Scrutiny Unit 7 Millbank London SW1P 3JA Dear Sirs Written Evidence to the Water Bill Scrutiny Committee 1. The British Insurance Brokers Association (BIBA) is the UK s leading general insurance organisation representing the interests of insurance brokers, intermediaries and their customers. 2. BIBA membership includes just under 2,000 regulated firms having merged with the Institute of Insurance Brokers (IIB) in November BIBA helps more than 400,000 people a year to access insurance protection through it s Find a Broker service, both online and via the telephone, including specialist flood brokers who can insure the vast majority of flood impaired properties. 4. Brokers provide professional advice to businesses and individuals, playing a key role in the identification, measurement, management, control and transfer of risk. They negotiate appropriate insurance protection tailored to individual needs. 5. BIBA have committed to work closely with Government on solutions for flood insurance which remains a key priority in our manifesto. 6. BIBA and our members have been trying to help facilitate a solution to provide availability and affordability of flood insurance for UK property owners in the long term. 7. Our members Aon, Marsh and Guy Carpenter have been heavily involved in the discussions over the last few years. The Guy Carpenter/ Marsh proposals are still valid propositions and we suggest the Scrutiny committee contact them about their options if appropriate. We submitted our response to the DEFRA consultation Securing the future availability and affordability of home insurance in areas of flood risk on the 8 th August. 8. BIBA s views on the Government response to the consultation are mixed. 9. We agree with the Government s policy objectives to provide availability and affordability of home insurance.
2 10. We would prefer the Flood Re option to succeed rather than the Government resorting to the Obligation. 11. BIBA is working with our members to increase the number and availability of flood insurance products for customers in case Flood Re does not succeed. 12. We are pleased that the proposal is to cover both buildings and contents insurance and limits the excess. 13. BIBA members retain a number of challenges that must be overcome for Flood Re to succeed. These are: 14. Small Businesses The existing Statement of Principles (SOP) currently covers small businesses (with up to 49 staff) for property flood insurance risks. BIBA members are very concerned that the Governments response does NOT afford this protection for small businesses going forward. Most small businesses will buy a commercial package insurance policy which is in the name of the business and not the private individual, therefore, making it ineligible for Flood Re protection. This is of particular concern to BIBA where it involves properties where the occupier also lives e.g. bed and breakfast and public houses. We have additional concerns for the Let property market as well. This is a retrograde step. 15. BIBA propose a compromise that allows for micro businesses to be included within Flood Re in the following definition. BIBA recognises that businesses present different risks to domestic properties and it may not be appropriate to include these within the Flood Re proposals in a similar way to the statement of principles (up to 49 staff). We believe however, that at micro level these risks are more aligned to domestic properties especially as in many cases the insured will reside on the premises. Our suggestion therefore is to call for the inclusion of micro businesses including sole traders, partnerships, limited companies with up to 10 staff and/or turnover of up to 1m. We envisage that both individual landlords with policies covering let domestic properties and commercial landlords covering similar properties would both come within the criteria (subject to the number of staff and turnover criteria). 16. We have evidence from BIBA members that small businesses are experiencing difficulty obtaining affordable property insurance due to the risk of flooding. Examples of this are as follows:
3 Policy type Comments 1,700 premium 1,900 premium ex flood or 7,500 inc flood with expiring excess Only holding company would offer terms under SOP Property owner 1,120 premium 5,000 premium 2,900 premium 770 premium 5,000 flood excess 2,099 premium 3,500 premium ex flood or 7,000 inc flood with expiring excess 10,000 premium ex flood Same 1,300 premium ex flood 1,500 20,000 flood excess Terms o/s Only holding company would offer terms under SOP Only 1 market Only 1 market Only 1 market Marketing ongoing 17. A BIBA broker in Cumbria has highlighted that there are still empty shops in Cockermouth which demonstrates the hesitancy of businesses given the insurance costs and insurers lack of appetite to write flood cover. 18. We believe there needs to be a greater definition of what is IN and what is OUT. 19. For example: Landlords with tenants This is a mixed situation as the Landlord is Commercial but the tenants contents are private and fall within a household risk. 20. Flood Re 21. Council Tax band rating The insurance industry already has a system so that those living in cheaper properties pay less. The use of the number of bedrooms for rating along with a rate per cent on the sum insured already achieves risk based pricing. 22. We believe that there will be a significant burden with the changes required to software programmes used by brokers and insurers to elicit this information. There is also the issue that not all properties have a council tax rating e.g. unoccupied uninhabitable property and Northern Ireland properties. 23. We also disagree with the exclusion of Band H property. Just because it is band H does not necessarily relate to the affordability and ability to pay. And it could still be very difficult for a band H property to seek flood insurance. 24. We also do not believe there are that many band H properties in comparison to the other bands and therefore do not believe their inclusion should have any major overall impact. 25. Therefore we believe that band H must be included.
4 26. BIBA are also of the view that if this is designed to help those on lower incomes there should be a greater pricing differential in the lower bands, (particularly between bands A and B)as the range of prices across the bands A to G is not skewed enough. 27. We suggest looking at other methods of helping lower income households and suggest consideration of a simple system of utilising existing rating factors and having a simple cap on the sum insured. This would mean that lower value houses would be eligible for support from Flood Re more easily than those with a higher sum insured, this should address the aspect of those in lower income percentiles. 28. Properties built since 2009 We disagree with 2009 as the cut-off point, instead we believe that the cut off should be 2013 as per the last 4 years those properties have been required to be built in accordance with Policy planning statement 25. (PPS25) We believe there does have to be a cut off to ensure that between now and the introduction of the new flood agreement, future new building projects are arranged in a resilient manner. There must be a more resilient and robust planning process and the problems that currently exist with PPS25 must be eradicated. 29. Genuine uninsurable properties? We strongly disagree with the genuinely uninsurable property proposal. 30. From the DEFRA press release on 27 th June The Right Honourable Owen Paterson stated (Paraphrased). 31. This announcement means that people no longer need to live in fear of being uninsurable and that those at most risk can get protection, now and in the future. 32. Clearly BIBA do not believe this to be the case as in fact there are many exclusions including this issue of genuinely uninsurable properties. 33. In addition at the second reading of the bill on 25th November Owen Paterson also said: 25 Hansard extract Nov 2013 : Column 50 ensure affordable flood insurance for households in areas at high risk of flooding. 25 Nov 2013 : Column 56. We need to give people at high risk of flooding the certainty that they can continue to get affordable flood insurance, as was touched on by my hon. Friend the Member for The Wrekin (Mark Pritchard). We consulted on draft flood insurance proposals over the summer, and I know that hon. Members agree that a solution is essential for the continuing protection of people at high risk of flooding. We are still in intensive and constructive discussion with the insurance industry on some of the finer points of detail, but we plan to table new clauses in time for consideration in Committee. The powers in the Bill will help to ensure that affordable flood insurance is available for households in high-risk areas. 34. Despite Owen Paterson s comments above we do not think they are reflective of the facts due to many exclusions within the Government s response. (Genuinely uninsurable properties, Band H council tax and properties built since 2009). 35. We are concerned at who would have the right and ability to decide what is genuinely uninsurable, how would they decide and how often would this be reviewed? Situations constantly change with new defence schemes and individual property level protections being
5 added. We think this agreement must pick up all postcode rated domestic properties in the UK. 36. We do not believe there are that many properties in this category. 37. BIBA has a definition of what is an insurable property. 38. BIBA believes that all post code rated domestic properties in the UK should be included within Flood Re. If the property has a council tax band and council tax is being paid, then it should be insurable. This would remove any doubts about insurable interest. Whether a property is occupied or unoccupied for council tax is irrelevant as a landlord may well have an unoccupied property that they are still keen to insure because of its value. Potentially unoccupied properties could be offered buildings insurance only. 39. Contingent Liability If there is a very large loss, e.g. an East Coast flood, then the 2.5 Billion proposed reinsurance limit could be breached. We need clarity over what would happen in this situation would it be the Tax payer, the property owner or the insurer who foots the bill. 40. The Levy As it is proposed for band H properties not to be included in Flood Re, would they be expected to pay the levy? 41. Some Insurers have very little exposure to flood risk in their portfolio at the moment, but a subsidy across the market, rather than across a portfolio could see those more cautious insurers being subject to a significant additional new cost. However we agree with the principal that you have to have a levy in order to deal with the affordability issue. 42. We remain cautious that the levy could increase significantly in the future due to external pressures such as climate change in years to come. 43. Summary of the Flood Re challenges It requires approval from the European Commission, It should cover small business like its predecessor the SOP Doesn t cover new homes built after 2009 Doesn t cover genuinely uninsurable properties Doesn t cover council tax band H properties The - 196M cost for Flood Re outlined in the impact assessment is the most expensive in comparison to option 3 (+ 191M) and option 4 (+ 43M) 44. If these issues can be resolved then we are confident that Flood Re should achieve the Government policy objective for flood insurance. 45. We also believe that if Flood Re is designed to end in years time (when its expiry leads into a free market) that the subsidy and the impact on premium affordability help should reduce gradually over this period, perhaps every 5 years. 46. The Obligation BIBA would be concerned that if an Insurer had no choice under the obligation other than to insure a given quota of flood risk properties then Government could seek to reduce their levels of flood defence spending. 47. The obligation would be the first time that Insurers are forced to provide a type of cover to a high risk home owner or occupier that they otherwise may have chosen not to insure. This
6 would create a situation that some Insurers could withdraw from the market, reducing capacity, competition and choice and introduce cumbersome regulation. 48. BIBA would be concerned that if Insurers had no choice under the obligation other than to insure a given quota of flood risk properties then Government could seek to reduce their levels of flood defence spending. 49. It is questionable whether the obligation can achieve affordability. 50. Exempting firms from the obligation In the interests of a level playing field BIBA believe that it is right all insurers have the same obligation, however the regulator could obviously tailor their supervision in a proportionate manner according to the risks posed by individual insurers. 51. The Environmental Agency should be granted powers to act as a lead administrator working with the devolved administrations to compile a UK-wide register that lists by address each domestic property at high risk of flooding 52. This should be freely available to the industry and their customers. 53. We would disagree with the term register and instead suggest it be called a flood insurance qualification so it is a positive rather than a negative. 54. Signposting Brokers are the agent of the customer and the Insurer and are normally able to find solutions for properties at the highest risk of flood. Of our 2000 members, BIBA has 113 who specialize in flood risk properties. We have been involved in the Pitt review and the Treasury and DEFRA flood Working Groups, met with the Flood Minister Richard Benyon, spoken at the DEFRA flood summit and given evidence tothe EFRA select committee. 55. We believe that once the Statement of Principles expires, the majority of property owners (98%) will continue to access flood insurance in the normal way with Insurers providing cover as part of the standard bundle of perils. 56. The 2% of highest risk properties is where there is most concern as these are the properties that are often red lined and rejected by an internet comparison site who are providing products for standard homogenised risks, not for non-standard high risks. 57. This is where BIBA s not-for-profit Find a Broker signposting service can play an important role in helping people access suitable cover. 58. Signposting is a way of helping consumers who are refused insurance cover at the point of sale. If an insurer or insurance broker is unable to offer cover, then they will automatically refer them to a more suitable alternative provider or to BIBA s Find a Broker service, which matches them to a specialist flood insurance broker, who can more easily accommodate their enquiry. 59. Through effective signposting, if no solution is found, BIBA are still confident most homeowners will still have flood cover available through brokers. In research with our members we have seen our members cover 95% of the Insurer rejections.
7 60. Here is an example of a flood risk property that a broker insured at an affordable rate. Tiverton EX16 Mapped as be prepared on EA. Property is 3-400m from the River Exe Property and area has never flooded Previous insurer was excluding flood cover. We have offered and incepted cover for buildings, contents and personal possessions including flood at normal terms. Premium charged Minimum security applies 61. Summary 62. A summary of our key issues are:- 63. BIBA agree with the Government s objectives for domestic properties. 64. During the interim period we recommend a system of signposting be formally created in order to help people more easily access insurance for their flood risk property. BIBA would be happy to assist in the way that we have done with the age agreement. 65. Small businesses in flood risk areas do sometimes have difficulty in accessing flood cover. They have always been protected in the previous SOP and we believe they need to be included a solution going forward. 66. BIBA suggest consideration of a simple system of utilising existing rating factors and having a simple cap on the sum insured. This should address the aspect of supporting those in lower income percentiles. We also disagree with the exclusion of Band H property. 67. We disagree with 2009 as the cut-off point, instead we believe that the cut-off - should be in We strongly disagree with the genuinely uninsurable property exclusion. 69. The - 196M cost for Flood Re outlined in the impact assessment is the most expensive in comparison to option 3 (+ 191M) and option 4 (+ 43M). 70. The level of subsidy and the impact on premium affordability support should reduce gradually over the 20 year period, perhaps every 5 years. To ensure that the impact of a free market does not lead to massive increase in someone s premium. 71. Under the obligation, BIBA would be concerned that if Insurer had no choice other than to insure a given quota of flood risk properties then Government could seek to reduce their levels of flood defence spending. This would only give insurers a reason to withdraw from the market. 72. The obligation could lead to a reduction of capacity, competition and choice. 73. The FCA should be the regulator if there were to be an obligation. 74. Flood Re requires primary legislation. 75. Flood Re requires approval from the European Commission, a significant hurdle. 76. Flood Re should apply to both buildings and contents. 77. The 2.5B limit that could be breached by a super flood. 78. PPS25 must be more robust.
8 Yours faithfully, Graeme Trudgill Executive Director Tel: Fax:
Manifesto British Insurance Brokers Association. The best insurance is a BIBA broker
British Insurance Brokers Association Manifesto 2008 BIBA House 14 Bevis Marks London EC3A 7NT Member Helpline: 0844 77 00 266 Fax: 020 7626 9676 Email: enquiries@biba.org.uk Contacts: Eric Galbraith Chief
More informationProfessional Indemnity Initiative
British Insurance Brokers Association Professional Indemnity Initiative An introductory guide to professional indemnity policy wordings 2007 BIBA Leading the way in UK insurance CONTENTS 03 Foreword 04
More informationConsultation response
Consultation response Age UK s Response to the Work and Pensions Committee Inquiry into changes to Housing Benefit September 2010 Name: Sally West Email: sally.west@ageuk.org.uk Age UK Astral House, 1268
More informationTransparency and Access in Motor and Travel Insurance for Older People An Agreement on Age and Insurance. Version 2.1
Transparency and Access in Motor and Travel Insurance for Older People An Agreement on Age and Insurance Version 2.1 1 August 2016 Contents Contents 1 Introduction 2 General context 2 Parties 2 Scope 3
More informationBIBA s response to HM Treasury consultation A new approach to regulation building a stronger system
4 April 2011 HM Treasury 1 Horse Guards Road London SW1A 2HQ Dear Sirs BIBA s response to HM Treasury consultation A new approach to regulation building a stronger system The British Insurance Brokers'
More informationConsultation CP16/42 Reviewing the funding of the Financial Services Compensation Scheme (FSCS)
31 March 2017 Mr C Gibson Redress Policy Strategy & Competition Financial Conduct Authority 25 The North Colonnade Canary Wharf London E14 5HS Dear Cosmo Consultation CP16/42 Reviewing the funding of the
More informationThe distinct nature of insurance business and the introduction of a specific insurance objective;
Financial Regulation Strategy HM Treasury 1 Horse Guards Road London SW1A 2HQ Via Email: financial.reform@hmtreasury.gsi.gov.uk 8 September 2011 Dear Sirs A new approach to financial regulation: the blueprint
More informationPRUDENTIAL AND OTHER REQUIREMENTS FOR MORTGAGE FIRMS AND INSURANCE INTERMEDIARIES RESPONSE BY THE BRITISH INSURANCE BROKERS ASSOCIATION
PRUDENTIAL AND OTHER REQUIREMENTS FOR MORTGAGE FIRMS AND INSURANCE INTERMEDIARIES RESPONSE BY THE BRITISH INSURANCE BROKERS ASSOCIATION ON THE FINANCIAL SERVICES AUTHORITY CONSULTATION DOCUMENT 174 JUNE
More informationGuide to Flood Insurance for domestic properties in the UK
Guide Flood Insurance for domestic properties in the UK A guide for brokers by Neil Bresler Cherish Insurance Brokers Limited Updated January 2018 Introduction By Neil Bresler, Managing Direcr Cherish
More informationTransparency and access in motor and travel insurance for older people. An agreement on age and insurance
Transparency and access in motor and travel insurance for older people An agreement on age and insurance April 2012 Transparency and Access in Motor and Travel Insurance 1 Contents Contents 1 Introduction
More informationOne voice. How BIBA helps your business. Strength in numbers. The best insurance is a BIBA broker
British Insurance Brokers Association How BIBA helps your business One voice Strength in numbers The best insurance is a BIBA broker www.biba.org.uk 0844 77 00 266 What our members say Mike Slack, Temporary
More informationConsultation on a public sector exit payment cap
news summary August 2015 Consultation on a public sector exit payment cap On 31 st July, the Government announced a consultation capping the total amount of redundancy and other exit payments (including
More informationRecommendations. 2. It is vital that relevant findings or any changes are communicated to residents and other key stakeholders.
The recent events at Grenfell Tower are tragic with wide-reaching impact and we have had a number of queries from customers, brokers, government and other parties. We have created a multi-disciplinary
More informationCommercial Combined Packaging risks together Q&A s
Commercial Combined Packaging risks together 1 New policy wording Q. What makes RSA and your new Commercial Combined product Best in Class? A. New policy and pricing, plus specialist traders and sound
More informationFLOODING INFORMATION SHEET YOUR QUESTIONS ANSWERED
The information in this document has been written in partnership by the Association of British Insurers and the Environment Agency 1. Flood risk and insurance Q1. How can I find out the flood risk affecting
More informationSubmission: A proposal for a strong and sustainable future for supported and sheltered housing
27 June 2016 Submission: A proposal for a strong and sustainable future for supported and sheltered housing The Federation has consulted extensively with our housing association members and stakeholders
More informationAgency Application Form Apple Underwriting
Agency Application Form Apple Underwriting Apple Underwriting 2 6 Bridge Street, Shotton, Deeside, Flintshire. CH5 1TW. Email : Scott.Woodward@AppleUnderwriting.co.uk Tel : 01244 817077 Or Email : Tasha.Williams@DeesideInsurance.co.uk
More informationAll you need to know about the Government s plans to restrict finance cost relief for individual landlords
All you need to know about the Government s plans to restrict finance cost relief for individual landlords What is the proposal and when was it announced? The proposal was announced in the Chancellor s
More informationTel: Environmental Matters
Tel: 0114 218 4000 info@tayloremmet.co.uk www.tayloremmet.co.uk Environmental Matters Some of the main causes of concern for buyers of residential property are: Land Contamination Flooding Landfill Mining
More informationManaging the impact of Welfare Reform
Managing the impact of Welfare Reform Anthony Barrett, Assistant Auditor General Nick Selwyn, Local Government Manager Basic facts about Wales Area: 20,800 km 2, Population: 3,074,000 (2012) Population
More informationCALL FOR EVIDENCE RENT A ROOM RELIEF
ICAEW REPRESENTATION 25/18 CALL FOR EVIDENCE RENT A ROOM RELIEF ICAEW welcomes the opportunity to comment on the call for evidence Rent a room relief published by HM Treasury on 1 December 2017. This response
More informationCIH Briefing on the White Paper for Welfare Reform. Universal Credit: welfare that works
CIH Briefing on the White Paper for Welfare Reform Universal Credit: welfare that works November 2010 1) Introduction The government has published its White Paper on welfare reform which sets out its proposals
More informationResponse to FSA Consultation Paper 12/28: Regulatory Fees and Levies: Proposals for 2013/14
Introduction WMBA welcomes the opportunity to respond to the issues raised in the FSA Consultation Paper 12/28: Regulatory Fees and Levies: Policy Proposals for 2013/14 and looks forward to further active
More informationHISTORIC ENVIRONMENT FUND
HISTORIC ENVIRONMENT FUND Comments by Northern Ireland Environment Link 6 th June 2016 Northern Ireland Environment Link (NIEL) is the networking and forum body for non-statutory organisations concerned
More informationBANKRUPTCY. Freephone. FACTSHEET 10 (2018)
What is Bankruptcy? Freephone 0800 083 8018 1 FACTSHEET 10 (2018) Bankruptcy is a way of dealing with debts that you cannot pay. Whilst you are bankrupt any assets that you have might be used to pay off
More informationtailor financial sanctions guidance one size fits all you can There s no approach to but with this a fitting response
Retirement Investments Insurance Health There s no one size fits all approach to financial sanctions but with this guidance you can tailor a fitting response Contents Introduction helping your business
More informationINFORMATION FOR MORTGAGE CUSTOMERS.
INFORMATION FOR MORTGAGE CUSTOMERS. WELCOME TO YOUR GUIDE TO HALIFAX MORTGAGES. Fold back this page for a brief summary of key mortgage features. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP
More informationMoneylending Review of the Consumer Protection Code for Licensed Moneylenders. Consultation Paper CP 118
Moneylending Review of the Consumer Protection Code for Licensed Moneylenders Consultation Paper CP 118 March 2018 [Type here] Review of the Consumer Protection Code for Licensed Moneylenders 1 Contents
More informationFinancial Conduct Authority 25 The North Colonnade Canary Wharf London E14 5HS. 26 January 2018
Financial Conduct Authority 25 The North Colonnade Canary Wharf London E14 5HS 26 January 2018 (Uploaded at the Financial Conduct Authority s website) Dear Sir/Madam, Standard Chartered s Response to the
More informationUniversal Credit claimant guide
Universal Credit claimant guide What is the Universal Credit service? Universal Credit claimant housing guide Universal Credit claimant housing guide If you pay rent to a local authority, council or housing
More informationKNOWSLEY METROPOLITAN BOROUGH COUNCIL HOUSING AND COUNCIL TAX BENEFIT - DISCRETIONARY HOUSING PAYMENTS POLICY
APPENDIX A KNOWSLEY METROPOLITAN BOROUGH COUNCIL HOUSING AND COUNCIL TAX BENEFIT - DISCRETIONARY HOUSING PAYMENTS POLICY 1. Background The purpose of this Policy is to specify how the Benefits Service
More informationAlternative Investment Management Association
Alternative Investment Management Association International Organization of Securities Commissions C/Oquendo 12 28006 Madrid Spain Basel Committee on Banking Supervision Bank for International Settlements
More informationFG18/6: Helping tenants find alternatives to high-cost credit and what this means for social housing landlords
Finalised guidance FG18/6: Helping tenants find alternatives to high-cost credit and what this means for social housing landlords December 2018 1 Introduction 1.1 This document aims to assist social housing
More informationStepChange Debt Charity response to the Banking Standards Board consultation: What do good banking outcomes look like to consumers?
StepChange Debt Charity response to the Banking Standards Board consultation: What do good banking outcomes look like to consumers? January 2018 StepChange Debt Charity London Office 6th Floor, Lynton
More informationInformation for mortgage customers. Mortgages
Information for mortgage customers. Mortgages Hello. This is your guide to TSB mortgages. This guide provides lots of information about our mortgages. Some of it is relevant to everyone but some of it
More informationApprenticeship Funding (inc Levy) Q&A For use from 21st April What are the benefits of
Apprenticeship Funding (inc Levy) Q&A For use from 21st April 2016 No Question 1 What are the benefits of s? 2 What is an? Answer Apprenticeships already benefit employers, apprentices and the economy.
More informationDealing with debt. A guide for customers
Dealing with debt A guide for customers How you can get help Banks are here to help you run your finances smoothly in a complicated world. You can get help in good and bad times. Banks understand that
More informationTerrorism Insurance & Pool Re
BRIEFING PAPER Number 03198, 6 June 2018 Terrorism Insurance & Pool Re By Timothy Edmonds Contents: 1. Introduction 2. Pool Re 3. Scheme developments www.parliament.uk/commons-library intranet.parliament.uk/commons-library
More informationConsultation on Proposed Changes to the Treasury Management Code and Cross Sectoral Guidance Notes
Consultation on Proposed Changes to the Treasury Management Code and Cross Sectoral Guidance Notes Closes 30 th September 2017 INTRODUCTION The first version of the Treasury Management in the Public Services:
More informationDriving the recovery through housing: an Autumn Statement submission from the Chartered Institute of Housing
Driving the recovery through housing: an Autumn Statement submission from the Chartered Institute of Housing 27 November 2012 Page 1 of 8 CIH Contact: Gavin Smart Director of policy and practice CIH Coventry
More informationCautionary statement This document contains statements that are, or may be deemed to be, forward-looking statements with respect to NEST Corporation
NEST Corporation corporate plan 2016-2019 Cautionary statement This document contains statements that are, or may be deemed to be, forward-looking statements with respect to NEST Corporation s financial
More informationHM REVENUE & CUSTOMS SECURING COMPLIANCE WITH REAL TIME INFORMATION LATE FILING AND LATE PAYMENT PENALTIES. Response by
HM REVENUE & CUSTOMS SECURING COMPLIANCE WITH REAL TIME INFORMATION LATE FILING AND LATE PAYMENT PENALTIES Response by THE SOCIETY OF PROFESSIONAL ACCOUNTANTS 6 September 2012 PETER J D MITCHELL, FCA,
More informationCode of Practice on Customer Billing and Disconnection
Code of Practice on Customer Billing and Disconnection Code of Practice on Customer Billing and Disconnection Energia will bill you every two months for the energy you use. Your bill is based on either
More informationCOMMUNITY INFRASTRUCTURE LEVY REVIEW: QUESTIONNAIRE
Introduction 1. The British Property Federation (BPF) is the voice of property in the UK, representing companies owning, managing and investing in property. This includes a broad range of businesses commercial
More informationEvidence for the Committee for Social Development on the Northern Ireland Welfare Reform Bill
Evidence for the Committee for Social Development on the Northern Ireland Welfare Reform Bill Chartered Institute for Housing 19 October 2012 Introduction The Chartered Institute of Housing (CIH) is the
More informationCP17/27: Assessing creditworthiness in consumer credit
Consultation response CP17/27: Assessing creditworthiness in consumer credit Response from the Joseph Surtees, Policy Manager joseph.surtees@ Tel: 0207 943 0018 1. About us 1.1. The (MAS) is a UK-wide,
More informationAssociation of Mortgage Intermediaries response to HM Treasury s consultation on the Implementation of the EU mortgage credit directive (MCD)
Association of Mortgage Intermediaries response to HM Treasury s consultation on the Implementation of the EU mortgage credit directive (MCD) This response is submitted on behalf of the Association of
More informationInsurance Cover for Business
Insurance Cover for Business Business Information Factsheet BIF006 December 2014 Introduction Every business is vulnerable to risks such as claims for compensation, contractual disputes, accidental damage,
More informationIntroduction. lifetime mortgages Terms and Conditions. Thank you for choosing a Just lifetime mortgage.
2017 Edition lifetime mortgages Terms and Conditions Just is a trading name of Just Retirement Money Limited. Where you see Just in this form, this means Just Retirement Money Limited. Introduction Thank
More informationABCD. KPMG response to Consultation Paper CP73. Requirements for Reserving and Pricing for Non Life Insurers and Reinsurers
KPMG response to Consultation Paper CP73 Requirements for Reserving and Pricing for Non Life Insurers and Reinsurers 10 December 2013 Contents Introduction... 3 Executive Summary... 3 Key observations...
More informationCONSULTATION ON BRINGING FORWARD EU EMISSIONS TRADING SYSTEM 2018 COMPLIANCE DEADLINES IN THE UK
CONSULTATION ON BRINGING FORWARD EU EMISSIONS TRADING SYSTEM 2018 COMPLIANCE DEADLINES IN THE UK November 2017 CONSULTATION ON BRINGING FORWARD EU EMISSIONS TRADING SYSTEM 2018 COMPLIANCE DEADLINES IN
More informationA joint government and insurance industry initiative. A Broker s Guide to. In partnership with
A joint government and insurance industry initiative A Broker s Guide to In partnership with Guide to Flood Re for Brokers Flood Re is one of the most significant innovations ever to be introduced into
More informationSME. Trading SME Business Electronically with Zurich
SME Trading SME Business Electronically with Zurich Trading SME Business Electronically with Zurich Print It s never been easier to place SME business with Zurich Helping SMEs and brokers grow together
More informationThe Government s Housing Agenda ARCH Tenant Group 12 October John Bibby ARCH CEO
The Government s Housing Agenda ARCH Tenant Group 12 October 2015 John Bibby ARCH CEO What we will cover: The self-financing settlement New 10 year rent settlement from 2015 Conservative Party Manifesto
More informationRequest for Information Comprehensive Review of the IFRS for SMEs. response to request. 3 December 2012
Request for Information Comprehensive Review of the IFRS for SMEs response to request 3 December 2012 CIPFA, the Chartered Institute of Public Finance and Accountancy, is the professional body for people
More informationMODERN WORKING PRACTICES: EMPLOYMENT STATUS RULES FOR EMPLOYMENT RIGHTS AND TAX/NIC
L ICAEW REPRESENTATION 45/18 MODERN WORKING PRACTICES: EMPLOYMENT STATUS RULES FOR EMPLOYMENT RIGHTS AND TAX/NIC ICAEW welcomes the opportunity to respond to the Employment status rules for employment
More informationInterim Report Review of the financial system external dispute resolution and complaints framework
EDR Review Secretariat Financial System Division Markets Group The Treasury Langton Crescent PARKES ACT 2600 Email: EDRreview@treasury.gov.au 25 January 2017 Dear Sir/Madam Interim Report Review of the
More informationResponse by ADA (Association of Drainage Authorities)
Consultation: Environment Agency Charge proposals from 2018 By: Environment Agency Contact: Ian Moodie, Technical Manager To: enquiries@environment-agency.gov.uk Tel: 024 76 992889 Date: 31 January 2018
More informationBBA RESPONSE TO JOINT COMMITTEE CONSULTATION PAPER ON GUIDELINES FOR CROSS-SELLING PRACTICES JC/CP/2014/05
20 March 2015 BBA RESPONSE TO JOINT COMMITTEE CONSULTATION PAPER ON GUIDELINES FOR CROSS-SELLING PRACTICES JC/CP/2014/05 1. The British Bankers Association ( BBA ) welcomes the opportunity to respond to
More informationINFORMATION ABOUT YOUR MORTGAGE: A GUIDE TO MORTGAGES ON PROPERTIES TO BE LET
INFORMATION ABOUT YOUR MORTGAGE: A GUIDE TO MORTGAGES ON PROPERTIES TO BE LET INTRODUCTION This guide gives details of our mortgages and is split into two parts: The first part is useful for customers
More informationProtocol for the maintenance of flood and coastal risk management assets (England only) Version 4, 27/01/2014 UNCLASSIFIED
Protocol for the maintenance of flood and coastal risk management assets (England only) Version 4, 27/01/2014 UNCLASSIFIED We are the Environment Agency. We protect and improve the environment and make
More informationDraft Deregulation Bill Written evidence from R3, the insolvency trade body
Draft Deregulation Bill Written evidence from R3, the insolvency trade body Introduction 1. R3 represents 97% of UK Insolvency Practitioners (IPs) - the only professionals authorised to take insolvency
More informationRegulatory reform. Operating twin peaks and the move towards legal cutover (LCO)
FSA Annual Report 2012/13 11 Regulatory reform Operating twin peaks and the move towards legal cutover (LCO) On 1 April 2012, the Financial Services Authority (FSA) was restructured internally into a twin
More informationArrears Prevention and Recovery Policy
Arrears Prevention and Recovery Policy 2016-2017 Policy Reference: Policy/HM011 Issue 2.0 Approved by: Senior Management Team Date approved: 01/04/2016 A Scope and Objectives The objective of this policy
More informationCIH written response to Homelessness Code of Guidance for Local Authorities consultation paper
About CIH Chartered Institute of Housing (CIH) is the independent voice for housing and the home of professional standards. Our goal is simple to provide housing professionals and their organisations with
More informationRepossessing residential property in Scotland (including commercial property containing residential units)
Repossessing residential property in Scotland (including commercial property containing residential units) > A summary of the new rules and guidelines in force from 30 September 2010 This is a summary
More informationProperty let STANDARD + RENT ARREARS, TAX PROTECTION AND CONTRACT DISPUTES
Property let LEGAL Protection and assistance SCHEME KEY FACTS STANDARD + RENT ARREARS, TAX PROTECTION AND CONTRACT DISPUTES WHY YOU NEED PROPERTY LET COVER Repossession Property damage Eviction of squatters
More informationCOMPANY CAR ALLOWANCE SCHEME
COMPANY CAR ALLOWANCE SCHEME CAR ALLOWANCE V S COMPANY CAR Companies have traditionally provided employees with a fully expensed company car. The level of car that an employee receives often depends on
More informationTPB(PN)D38/2017: Outsourcing, offshoring and the Code of Professional Conduct
12 October 2017 Tax Practitioners Board GPO Box 1620 SYDNEY NSW 2001 Email: tpbsubmissions@tpb.gov.au Dear Sir / Madam TPB(PN)D38/2017: Outsourcing, offshoring and the Code of Professional Conduct The
More informationDOVER DISTRICT COUNCIL. Private Sector Housing Assistance Policy and Conditions 2012*
DOVER DISTRICT COUNCIL Private Sector Housing Assistance Policy and Conditions 2012* *Updated August 2016 CONTENTS Page Para INTRODUCTION 1 1 FUNDAMENTAL PRINCIPLES 2 2 TYPES OF DISCRETIONARY ASSISTANCE
More informationThis final response is in addition to our first stage response submitted to CESR on 10 September and covers the following sections:
17 th September 2004 London Office 114 Middlesex Street London E1 7JH Tel: +44 (0) 20 7247 7080 Fax: +44 (0) 20 7377 0939 Email: info@apcims.co.uk By email to CESR at www.cesr-eu.org Dear Sirs Final Response
More informationESMA CONSULTATION PAPER ON DRAFT REGULATORY TECHNICAL STANDARDS UNDER THE ELTIF REGULATION (the Consultation Paper )
European Securities and Markets Authority www.esma.europa.eu 12 Throgmorton Avenue 14 October 2015 Dear Sir/Madam ESMA CONSULTATION PAPER ON DRAFT REGULATORY TECHNICAL STANDARDS UNDER THE ELTIF REGULATION
More informationInstitutional investors should publicly disclose their policy on how they will discharge their stewardship responsibilities.
BP Investment Management Limited ( BPIM ) Stewardship Policy BP Investment Management Limited ( BPIM ), a wholly owned investment management subsidiary of BP Pension Trustees Ltd, manages certain assets
More informationUS Chapter 11 : Should it be adopted in the UK?
US Chapter 11 : Should it be adopted in the UK? The US business rescue procedure, Chapter 11, has enjoyed positive press and parliamentary coverage in the UK, with a number of commentators calling for
More informationCouncil Tax Benefit is Changing. What do you think?
Council Tax Benefit is Changing What do you think? 1 Foreword by the Leader of the London Borough of Sutton I am committed to supporting our local communities, in particular those who are most vulnerable,
More informationPRACTICE NOTE REPORTS ON INTERNAL CONTROLS OF INVESTMENT CUSTODIANS MADE AVAILABLE TO THIRD PARTIES
PRACTICE NOTE 860.2 REPORTS ON INTERNAL CONTROLS OF INVESTMENT CUSTODIANS MADE AVAILABLE TO THIRD PARTIES (Issued June 1999; revised September 2004 (name change); revised May 2010) PN 860.2 (May 2010)
More informationSummary of consultation feedback:
Summary of consultation feedback: Future funding of supported housing 20 December 2017 Summary of key points: This briefing summarises the feedback we have received from housing associations to date on
More information12 February International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom. Dear Mr Hoogervorst,
12 February 2016 International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom Dear Mr Hoogervorst, Re: IASB ED/2015/11 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance
More informationResidential Landlords Legal Solutions
Residential Landlords Legal Solutions Introducing Landlords' Legal Solutions This policy sets out the agreement between you and DAS. Please read it carefully to familiarise yourself with the terms and
More informationBIAC Comments on the. OECD Public Discussion Draft: Draft Comments of the 2008 Update to the OECD Model Convention
The Voice of OECD Business BIAC Comments on the OECD Public Discussion Draft: Draft Comments of the 2008 Update to the OECD Model Convention 31 May 2008 BIAC appreciates this opportunity to provide comments
More informationCorporate Policy and Strategy Committee
Minutes Corporate Policy and Strategy Committee 10.00 am, Tuesday, 16 April 2013 Present Councillors Burns (Convener), Cardownie (Vice-Convener), Burgess, Chapman, Child, Nick Cook, Godzik, Ricky Henderson,
More informationOUR PRODUCTS. ABACUS SIPP Low-cost SIPP that allows you to invest your pension into one investment platform
DUE DILIGENCE PACK OUR PRODUCTS Hartley Pensions aims to provide clients with a range of financial products that can meet current and future investments needs. We can make that claim by offering you: A
More informationSetting the Scene Dave Stott Associate Empty Homes National Empty Homes Loan Fund Manager
Setting the Scene Dave Stott Associate Empty Homes National Empty Homes Loan Fund Manager Grant from DCLG Grant into Empty Homes Agency Partnering agreement with a National Lender Into a revolving 15 year
More informationAppendix 1C. Treasury Management Policy incorporating Treasury Management Practices
Appendix 1C Treasury Management Policy incorporating Treasury Management Practices 2019-20 CONTENTS Page 1. Background 2 2. Aim 2 3. Scope 2 4. Policy Responsibility 2 5. Review 3 6. Treasury Management
More informationProfessional Risks. Design and Construct Proposal Form. Proposal Form 1017 Professional Risks
Professional Risks Design and Construct Proposal Form Proposal Form 1017 Professional Risks Important Notice This proposal must be completed and signed by a principal, partner, director of the proposer/s.
More informationPROPERTY CODES COMPLIANCE BOARD COMPLIANCE NOTES CN02I: REGULATED FLOOD SEARCHES
PROPERTY CODES COMPLIANCE BOARD COMPLIANCE NOTES CN02I: REGULATED FLOOD SEARCHES The Code s requirements 1. The 7 principles of the Search Code apply to regulated flood searches just as they apply to regulated
More informationNCOIL Summer Meeting. Flood Insurance: What s Holding Back the Private Market?
NCOIL Summer Meeting Flood Insurance: What s Holding Back the Private Market? July 11, 2014 Michael Angelina, MAAA, ACAS, CERA Vice President, Casualty Practice Council All Rights Reserved. 1 About the
More information2016 Scottish Parliament Election Manifestos: Comparative analysis of housing and related policies
2016 Scottish Parliament Election Manifestos: Comparative analysis of housing and related policies Supply 10% year-on-year increase in new house completions across all sectors to return to around 25,000
More informationBRIEFING PAPER FOR OVERVIEW AND SCRUTINY COMMITTEE- IMPLICATIONS OF THE SUMMER BUDGET ON THE HOUSING REVENUE ACCOUNT
BRIEFING PAPER FOR OVERVIEW AND SCRUTINY COMMITTEE- IMPLICATIONS OF THE SUMMER BUDGET ON THE HOUSING REVENUE ACCOUNT BACKGROUND On the 8 th July 2015 the Government in their Summer Budget announced several
More informationDear Colleague NATIONAL CODE OF PRACTICE FOR GP PREMISES GP PREMISES LEASED FROM PRIVATE LANDLORDS
Population Health Directorate Primary Care Division Addresses For Action NHS Territorial Board Chief Executives Integration Authority Chief Officers For information NHS Boards Premises Sustainability Loan
More informationHigh-cost credit review: Feedback from roundtables
Financial Conduct Authority High-cost credit review: Feedback from roundtables Introduction 1. This paper summarises the issues and ideas raised by participants in our roundtables. These points do not
More informationDavid Malcolm Strategy & Competition Financial Conduct Authority 25 The North Colonnade Canary Wharf London E14 5HS 08 February 2017
Telephone: 020 7066 9346 Email: enquiries@fs-cp.org.uk David Malcolm Strategy & Competition Financial Conduct Authority 25 The North Colonnade Canary Wharf London E14 5HS 08 February 2017 Dear David, Call
More informationRe: TUNSW Submission on Protections for Residents of Long Term Supported Group Accommodation in NSW
11 March 2018 Attn: Resident Rights Consultation Process Family and Community Services Level 13, 4-6 Bligh Street Sydney NSW 2000 To whom it may concern, Re: TUNSW Submission on Protections for Residents
More informationThe Key Worker Living guide to Homebuy. settle for more. Homebuy - the equity loan scheme for key workers
The Key Worker Living guide to Homebuy settle for more Homebuy - the equity loan scheme for key workers This is your guide to buying a property through the Key Worker Living Homebuy scheme. Homebuy is
More informationProperty let STANDARD COVER + RENT ARREARS
Property let LEGAL Protection SCHEME KEY FACTS STANDARD COVER + RENT ARREARS 2 WHY YOU NEED PROPERTY LET COVER Repossession Property damage Eviction of squatters Rent recovery Rent arrears Legal defence
More informationPosition AMF Recommendation Guide to the organisation of the risk management system within asset management companies DOC
Position AMF Recommendation Guide to the organisation of the management system within asset management companies DOC-2014-06 References: Articles 313-1 to 313-7, 313-53-2 to 313-58, 313-60, 313-62 to 313-71,
More informationStakeholder Pension Scheme Transfer Value Account
Key Features of the Stakeholder Pension Scheme Transfer Value Account Reference MPEN2/D 04.18 The Financial Conduct Authority is a financial services regulator. It requires us, Aviva Life & Pensions UK
More informationBritish Insurance Brokers Association. Manifesto The best insurance is a BIBA broker Consumer helpline:
British Insurance Brokers Association Manifesto 2009 The best insurance is a BIBA broker www.biba.org.uk Consumer helpline: 0870 950 1790 2 Introduction The British Insurance Brokers Association (BIBA)
More informationHaving regard to the Treaty on the Functioning of the European Union, and in particular Article 108(4) thereof,
24.12.2014 L 369/37 COMMISSION REGULATION (EU) No 1388/2014 of 16 December 2014 declaring certain categories of aid to undertakings active in the production, processing and marketing of fishery and aquaculture
More informationORBIT DEBT, SERVICE CHARGE & OTHER ARREARS RECOVERY POLICY
Document Title Debt, Services Charge and other Arrears Recovery Policy Version Final 1.2 Release Date February 2019 Review Date February 2022 Extension Reason(s) Extension date approved Approver details
More information