General matters relating to insurance regulation

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This Overview is a guide to the Financial Services content within the General matters relating to insurance regulation subtopic, with links to the appropriate materials. The subtopic deals with a range of matters that are relevant to the regulation and supervision of insurers and insurance intermediaries. It seeks to describe a contract of insurance and sets out some general principles of insurance. The prudential and conduct requirements that affect insurers are principally dealt with in separate subtopics.

General principles of insurance contract law

Practice Note: What is a contract of insurance? covers the legal framework and regulatory guidance to be considered in determining whether an arrangement constitutes a contract of insurance and the possible consequences of carrying on activities relating to an insurance contract without the requisite regulatory permissions.

There are many different types of insurance, and the common law does not require a contract of insurance to be in any particular form. For more information about the general principles of insurance contract law, see Practice Note: General principles of insurance contract law. This Practice Note explains various principles concerned with insurance. It discusses

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Latest Financial Services News

AML: FATF plenary approves revised standards on payment transparency and guidance on financial inclusion and RBA

The latest Financial Action Task Force (FATF) plenary has announced, among other developments, that it has approved revisions to Recommendation 16 of the FATF Standards on strengthening payment transparency, in addition to endorsing new guidance on financial inclusion and the risk-based approach (RBA). The guidance includes approaches to address de-risking and the application of simplified due diligence (SDD). At the same time, the FATF has revised its assessment methodology to bring it in line with changes to Recommendation 1 of its Standards.

EBA publishes final draft technical standards on operational risk

The European Banking Authority (EBA) has published three final draft technical standards for the implementation of the EU Banking Package. They will allow supervisors to monitor institutions’ compliance, in order to promote consistent and enhanced supervision. The EBA is seeking to ensure comprehensive and accurate representation of operational risk in banks' financial statements.

Financial Services—other developments (16/06/2025)

A round-up of other developments, which have not been covered in full by the LexisNexis Financial Services practical guidance team but may nevertheless be of interest.

Government to exempt domestic premises suppliers from requiring credit broking permissions to offer BNPL

HM Treasury (HMT) has announced that, following industry and Financial Conduct Authority (FCA) engagement, the government has decided to exempt domestic premises suppliers from requiring credit broking permissions to offer buy-now, pay-later (BNPL) products as a payment option.

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