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Practice notes
Subrogation in insurance and reinsuranceWhat is the right of subrogation?In the context of insurance and reinsurance, the right of subrogation...
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Produced in partnership with Eleanor Ruiz of Reed Smith and Mark Pring of Reed Smith 19th May
Practice notes
The principle of subrogationSubrogation is the right of an insurer, once it has made payment to its insured for loss covered by an insurance policy,...
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19th May
Practice notes
Liability of the reinsurer to the insolvent insurance companyEffect of liquidation on reinsurance recoveriesWhen an insurer goes into liquidation, its...
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19th May
Practice notes
Brexit—exiting the EU under Article 50 [Archived]ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note contains...
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Produced in partnership with Adam Cygan of University of Leicester 19th May
Practice notes
The registration and regulation of friendly societiesWhat is a friendly society?There has been a system of registration, and with it regulation, of...
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Produced in partnership with John Gilbert of Hogan Lovells International LLP 19th May
Practice notes
Double insurance and contributionOverlapping insurance policesThere are various reasons why an insured may end up with overlapping insurance cover,...
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Produced in partnership with Susie Wakefield and Matthew Brown of Shoosmiths LLP 19th May
Practice notes
Sanctions clauses and the effect of sanctions on insurance policiesIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit...
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Produced in partnership with Daniel Martin of HFW 19th May
Practice notes
What is a contract of insurance?This Practice Note covers the legal framework and regulatory guidance to be considered in determining whether an...
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Produced in partnership with RPC 19th May
Practice notes
Forms of reinsurance and terminologyThe parties to a reinsurance contract and reinsurance terminologyThe principal parties to any reinsurance contract...
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19th May
Practice notes
Insurance reserves, claims data and loss development trianglesThis Practice Note explains insurance industry practice in relation to loss reserves,...
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19th May
Practice notes
Conduct Rules for SM&CR FirmsBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation...
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Produced in partnership with Mark Compton and Lauren Smith of Mayer Brown International LLP 19th May
Practice notes
Warranty and Indemnity (W&I) insurance in private M&A transactions—guide to the key documentsWith the significant rise in the use of Warranty and...
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Produced in partnership with Adrian Furlonge of Hemsley Wynne Furlonge LLP 19th May
Practice notes
Public liability insurance—basic insurance principlesPublic liability insurance contractsInsuring clausePublic liability insurance indemnifies a...
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19th May
Practice notes
Insurance—duty of disclosureDuty of 'fair presentation'Under the Insurance Act 2015, s 3 (IA 2015), the insured has a duty to make a 'fair...
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19th May
Practice notes
The functions and duties of insurance brokers—policy placementThis Practice Note provides a high level introduction to the functions and duties of...
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19th May
Practice notes
A guide to the Consumer Insurance (Disclosure and Representations) Act 2012Insurance contracts have always had an aura of mystery about them in the...
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Produced in partnership with Alexander Rosenfield of Fenchurch Law and John Curran of Fenchurch Law 19th May

Most recent Governance content

Practice notes
Governance, systems and controls requirements for insurersIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit...
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Produced in partnership with Nicholas Thompsell of Fieldfisher 1st Aug
Practice notes
Prudential requirements for UK insurers—Pillar 2 and Pillar 3 requirementsIntroduction to the prudential regulatory frameworkThis Practice Note is one...
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Produced in partnership with Clyde & Co 1st Aug
Practice notes
SM&CR—application to insurersOn 7 March 2016, the Senior Managers and Certification Regime (SM&CR) replaced the Approved Persons Regime (APR) for UK...
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Produced in partnership with Carol-Ann Burton and Margarita Kato of Holman Fenwick Willan LLP and Dominic Pereira as research contributor 1st Aug
Q&As
The PRA Rulebook used to have rules on prudential risk management and associated systems and controls for insurers in SYSC 14. What is prudential risk...
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31st Jul
Q&As
What options are available under the Senior Managers and Certification Regime for providing maternity cover for the Head of Internal Audit in an SII...
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31st Jul
Practice notes
SM&CR—policy development and key datesOn 7 March 2016, the Senior Managers and Certification Regime (SM&CR) replaced the Approved Persons Regime (APR)...
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31st Jul
Practice notes
The EU Taxonomy Regulation—one-minute guideThis one minute guide, written in partnership with Philippa List, professional support lawyer, and...
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Produced in partnership with Philippa List of Dechert and Mikhaelle Schiappacasse of Dechert 31st Jul
Practice notes
General reporting requirementsBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation...
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Produced in partnership with Orrick, Herrington & Sutcliffe 31st Jul
Practice notes
Group risk systems and controls requirements BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit...
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31st Jul
Practice notes
Climate-related disclosures for UK financial institutions—new UK mandatory requirementsBREXIT: As of exit day (31 January 2020), the UK is no longer...
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Produced in partnership with Arun Srivastava of Paul Hastings 31st Jul
Practice notes
Operational risk requirements for insurersBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit...
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31st Jul
Practice notes
Conduct Rules for SM&CR FirmsBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation...
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Produced in partnership with Mark Compton and Lauren Smith of Mayer Brown International LLP 31st Jul
Practice notes
SM&CR—Statements of Responsibility (SoRs)Banks, building societies, credit unions, PRA-regulated investment firms and insurers are required to file a...
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31st Jul
Practice notes
SM&CR—FCA and PRA Fitness and Propriety requirementsThe Senior Managers & Certification Regime (SM&CR) is the Financial Conduct Authority’s (FCA) and...
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Produced in partnership with John Drabble of Kemp Little LLP 31st Jul
Practice notes
Senior management arrangements, systems and controlsThis Practice Note outlines the requirements of the Senior Management Arrangements, Systems and...
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31st Jul
Practice notes
FCA—training and competenceBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period...
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31st Jul
Practice notes
Certification Regime for SM&CR firmsThe Certification Regime (CR) is one component of the broader Senior Managers & Certification Regime (SM&CR), the...
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31st Jul

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