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GLOSSARY

Association of British Insurers (ABI) definition

Published by a LexisNexis Corporate expert

What does Association of British Insurers (ABI) mean?

A trade association of the UK insurance industry, with a focus on governance'>corporate governance issues and the development of institutional voting guidelines for its members (since the merger of ABI Investment Affairs with the Investment Association (IA) in June 2014, IA has assumed responsibility for previously issued ABI guidance).

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UK Solvency II—timeline

UK Solvency II—timeline This timeline shows key developments relating to the UK's Solvency II regime. For earlier developments see Solvency II—timeline (2007–2023) [Archived]. 2025 Date Source Document Description 10 April 2025 PRA Prudential Regulation Authority Business Plan 2025/26 The Prudential Regulation Authority (PRA) has announced its business plan for 2025/2026, outlining its strategic priorities and objectives. The strategy focuses on maintaining the safety and soundness of the banking and insurance sectors, identifying new and emerging risks, supporting competitive and innovative markets, and running an inclusive and efficient regulator. The PRA also mentions work it has already completed, ongoing and future initiatives. Key regulatory initiatives include stress testing in the banking and insurance sector, preparation for the implementation of the Basel 3.1 standards by January 2027 and enhancing operational and cyber resilience. 8 April 2025 PRA PRA launches consultation to help insurers accelerate investment in the UKCP7/25 – Matching Adjustment Investment Accelerator The PRA has published a consultation paper, CP7/25, proposing the introduction of a new framework called the...

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Coronavirus (COVID-19) implications for PI and clinical negligence [Archived]

Coronavirus (COVID-19) implications for PI and clinical negligence [Archived] ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note focuses on the implications for PI and clinical negligence practitioners in the light of temporary rules and guidance introduced following the coronavirus (COVID-19) pandemic. This Practice Note should be read in conjunction with Practice Notes: • Coronavirus (COVID-19) implications for dispute resolution [Archived] • Coronavirus (COVID-19) civil court specific guidance—dispute resolution [Archived] Case management of personal injury claims See also Practice Note: Coronavirus (COVID-19) implications for dispute resolution [Archived]—Case progression and management. The Association of Personal Injury Lawyers (APIL) and Forum for Insurance Lawyers (FOIL) published guidance on best practice to assist claimant and defendant lawyers handling personal injury claims during the coronavirus pandemic. This agreement was first introduced on 31 March 2020 and continues to apply (subject to periodic review). The guidance is of course subject to compliance with the CPR and includes the following. Communication Practitioners should engage with their counterparts...

Coronavirus (COVID-19) news & analysis—May and June 2023 [Archived]

Coronavirus (COVID-19) news & analysis—May and June 2023 [Archived] ARCHIVED: This Practice Note has been archived and is not maintained. This table contains an archive of news and analysis on coronavirus (COVID-19) and coronavirus developments that has been published within various Lexis+® UK Practice Areas in May and June 2023. 26 June–2 July 2023 Date News Analysis Brief description of the News Analysis 30 June 2023 UK COVID-19, Module 1—evidence of Nicola Sturgeon LNB News 30/06/2023 48 Former First Minister of Scotland, Nicola Sturgeon, gave evidence to the UK COVID-19 Inquiry on 29 June 2023. Module 1 covers the UK’s resilience and preparedness for a pandemic. 30 June 2023 PAC expresses concern over HMCTS’s delays in delivering Court Reform Programme LNB News 30/06/2023 90 The Public Accounts Committee (PAC) has expressed serious concern over HM Courts and Tribunals Service's (HMCTS) delay in delivering the Court Reform Programme (CRP). The PAC’s report, published on 30 June 2023, highlights HMCTS’ failure to fully comprehend the scale and complexity of the CRP, resulting in...

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FCA publishes 2025–2030 strategy

The Financial Conduct Authority (FCA) has published its 2025–2030 strategy, outlining a five-year plan in which it aims to deepen trust, rebalance its approach to risk, support economic growth and improve lives. The strategy is structured around four priorities: becoming a smarter regulator, supporting growth, helping consumers navigate their financial lives and fighting financial crime. The strategy aims to improve operational efficiency through reforms to supervision, digitisation of processes and reductions in data collection requirements. It also includes commitments to enhance market integrity, protect consumers and promote a competitive financial services environment. A speech by the FCA’s chief operating officer Emily Shepperd, addressing the Association of British Insurers (ABI), accompanies the strategy.