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Insurance & Reinsurance monthly highlights—August 2017

Published on: 30 August 2017
Published by: LexisPSL
  • Insurance & Reinsurance monthly highlights—August 2017
  • In this issue:
  • Hot topics and horizon scanning
  • Brexit—PRA CEO calls for implementation period to mitigate risks
  • Brexit and ‘Third Country’ Access
  • Control and Management of Insurers
  • The extension of SMCR to all financial services firms—what will it mean for practitioners?
  • Capital Requirements of Insurers
  • Potential new rules to keep the UK’s reinsurance market competitive—Draft Risk Transformation Regulations 2017
  • International
  • More...

Article summary

This edition of Insurance & Reinsurance Highlights provides an aggregation of the news reported by the Insurance & Reinsurance team over the past month. It includes news items related to: (1) The IAIS public consultation on the revision of ICP 24 – macroprudential surveillance and insurance supervision; (2) the PRA proposals for extending the SM&CR in insurers; (3) the LMA activity including its guidance for underwriters on the GDPR and its work affecting financial lines and political risk; (4) Automated driving; (5) New guidelines on PRIIPs key information documents; (6) New challenges for ATE insurance; (7) priorities and fines issued by the CMR; (8) the ABI concerns on insurance contracts post-Brexit, and their recent report on travel insurance; (9) the EIOPA updates on Solvency II; (10) the PRA’s consultation on levies for insurers and fees in relation to the risks firms pose to PRA objectives and FSCS levies for general and life insurers; (11) the FCA latest proposals setting out changes to the rules required to ensure compliance with the Insurance Distribution Directive; (12) HM Treasury’s progress on recommendations put forward by the Insurance Fraud Taskforce; (13) Brexit and the PRA’s message to firms to make contingency plans; (14) Insurance Europe, the EC and the ESA on PRIIPs; (15) ILS, PCC and draft Risk Transformation Regulations; (16) Cases – (a) Redman v Zurich and Liability under the Third Party (Rights Against Insurers) Act 2010; (b) Aspen Underwriting Ltd. v Kairos Shipping and; Ted Baker PLC v Axa. and the duty to speak during the claims process; (17) PPI and its impending deadline. or take a trial to read the full analysis.

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