Articles - Searchlight Insurance Training

The recent introduction of the Senior Managers and Certification Regime (SM&CR) makes high-calibre leadership more essential than ever for UK insurance brokers. Since the new rules came into force for brokers in December 2019, anyone appointed as a Senior Manager must have a Statement of Responsibilities that clearly defines their role and responsibilities. Still very…

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The Financial Services Compensation Scheme (FSCS) recently revealed that customers of failed insurance firms Alpha, Enterprise and Gable have received £276m in compensation. Gibraltar-based Enterprise Insurance collapsed in July 2016, followed by Liechtenstein’s Gable Insurance in November the same year, and Danish insurer Alpha in May 2018. Their demise left more than a million policyholders…

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Not that we’re trying to do ourselves out of a job or anything, but one of the things on which my company Searchlight offers training is how to deliver training. Train the trainer courses are one of the more popular ‘soft skills’ workshops we offer. In practice, their main purpose is not to launch individuals…

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For our clients in the general insurance sector, 2018 has been blessed – or burdened, depending on your viewpoint – with an unusually generous helping of regulatory change. Workshops and online courses on three major regulatory strands – GDPR, IDD and SM&CR – have been in high demand throughout the year. It’s not just insurance…

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‘I love deadlines,’ Hitchhikers Guide author Douglas Adams once remarked. ‘I like the whooshing sound they make as they go by.” Insurance providers, under ever-fiercer regulatory scrutiny, can’t afford to be so blasé. In the world of insurance, deadlines tend to bring a sense of dread. So it was that, in December last year, many…

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There are more than four million managers working in the UK today. The majority of them never consciously chose to be managers and will have received little or no formal training for their roles. Even among those who have, as few as one in five was trained by an accredited provider. So, when the teams…

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The Senior Managers and Certification Regime (SM&CR) is currently expected to come into effect on 10 December this year. In the last couple of years dual-regulated firms involved in banking and investments have, by necessity, become well versed in the ways of SM&CR, whilst those running and influencing insurance companies have had to adapt to living with SM&CR’s somewhat eccentric cousin, the Senior Insurance Managers Regime (SIMR), which seeks to accommodate the senior management accountability requirements of Solvency II. Meanwhile…

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In terms of regulatory change, the general insurance firms who comprise the majority of the businesses for whom my firm Searchlight delivers training and consultancy services have a lot on their plates right now. The Insurance Distribution Directive (which which was due to come in to force in February but has been delayed until 1…

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One of the key drivers for change within any training organisation is the need to anticipate, absorb and keep our customers up to date with forthcoming legal and regulatory developments. Along with the EU’s General Data Protection Regulations (GDPR) and the FCA’s Senior Managers and Certification Regime (SMCR), one key concern right now for our…

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With issues around data protection and cyber security increasingly in the news these days, the forthcoming implementation of the The EU General Data Protection Regime (GDPR) is a big deal for UK companies of all types and sizes. There’s less than a year to go now before the GDPR comes into force, replacing the existing…

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