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NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: UK insurer warns over collisions with Russian 'Shadow Fleet'; fraudster sentenced for Instagram motor insurance scam; FCA Consumer Duty deadline may spark clash with UK government; FCA publishes discussion paper on the regulation of commercial and bespoke insurance business; PRA issues final policy on funded reinsurance; EIOPA publishes consultation on the capital treatment of insurers’ direct exposure to central clearing counterparties in the standard formula; PRA publishes approach to its secondary competitiveness and growth objective; cases & decisions; key dates for your diary; and other news highlights reported over the past week.
NEWS
This week's edition of the Insurance & Reinsurance weekly highlights includes: hospitality businesses get mixed result for coronavirus (COVID-19) payouts in Liberty Mutual test cases; the Council of the EU renews economic sanctions for a further six months in view of Russia’s continuing actions against Ukraine; the Lloyd’s Market Association (LMA) publishes Cross-Market Co-Lead Claims Agreement; consumer duty rules risk blurring line between advice and guidance; the International Association of Insurance Supervisors (IAIS) publishes 2024 roadmap; cases & decisions; key dates for your diary; and other news highlights reported over the past week.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: the case of Makin (by his mother and litigation friend) v The Restaurant Muse Ltd and others; the marine insurance market could face losses if premiums continue to soften in the face of mounting claims inflation, a broker warned; BoE speech on bulk purchase annuity sector priorities; CP10/25: PRA consults on supervisory expectations for banks and insurers in managing climate-related risks; EIOPA opens six consultations on the EU IRRD; IAIS publishes Year in Review 2024 report; United Insurance Brokers Limited charged with failure to prevent bribery; cases and decisions; and key dates for your diary.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes EIOPA’s areas of activity and supervisory priorities for 2027–2029, and an update on its work to reduce regulatory complexity; plus key cases and dates for your diary.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: Cyber insurance market to double by 2030, Munich Re says; UK insurers could push through price hikes from tariffs; CP7/25: PRA consults on matching adjustment investment accelerator introduction; EIOPA publishes strategy to simplify regulation and enhance European competitiveness; Solvency II Review: EIOPA consults on group supervision, related undertaking and volatility adjustments; cases and decisions; and key dates for your diary.
NEWS
This week's edition of Insurance weekly highlights includes: Top court to hear appeal in COVID-19 insurance furlough case; AI risks leaving UK businesses exposed to insurance gaps; PRA publishes letter on solvency-triggered termination rights in BPA transactions; PRA, FCA and Society of Lloyd's announce streamlined authorisation process for managing agents; IAIS publishes Application Paper on fair treatment of a wide range of consumers plus dates for your diary and key recent cases.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: AerCap battles insurers over stranded jets as trial begins; Putin seized planes in political act, insurers say at UK trial; Putin helped airlines survive, insurers say in stranded jets trial; a case analysis on the ‘at the premises’ business interruption insurance appeal (LIEC v Allianz); AXA adds new platform for measuring climate risks; EIOPA presents its value for money benchmark methodology for unit-linked and hybrid insurance products; Packaged Retail and Insurance-based Investment Products (Retail Disclosure) (Amendment) Regulations 2024; cases and decisions; key dates for your diary; and other news highlights reported over the past week.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: IRB-Brasil Resseguros S.A., plus key cases and dates for your diary.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: Chubb European Group entering into an US$83.4m claim alleging that insurers have refused to pay out for aircraft that has been stranded in Ukraine after the Russian invasion; the Commercial Court in Zephyrus Aviation v Fidelis Underwriting rejecting jurisdiction challenges by aviation reinsurers relying on Russian exclusive clauses; the European Insurance and Occupational Pensions Authority (EIOPA)’s supervisory expectations regarding the supervision of reinsurance concluded with third-country reinsurers; the Financial Services Compensation Scheme (FSCS)’s recovery of £54m in the financial year ended 31 March 2024 from the estates of failed financial services companies; the Financial Ombudsman Service (FOS)’s report on increased complaints received in the coming financial year to 210,000 from 181,000 due to increased everyday financial concerns; cases & decisions; key dates for your diary; and other news highlights reported over the past week.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: HMT and the Department for Transport’s Motor Insurance Taskforce final report; an LMA committee on emerging forms of litigation, including those linked to 'forever chemicals'; an estimated US$200m Hong Kong fire loss for the global insurance market; a PRA update to government on its growth agenda; the FCA’s drive to simplify insurance rules and consult on further changes; a PRA consultation on Solvency II reporting and disclosure; FCA findings from its multi-firm review of bereavement claims; EIOPA’s seven consultations on IRRD implementation; new and updated EIOPA guidelines under the Solvency II review; plus key cases and dates for your diary.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: Lloyd’s highlights key supply chain risks for transport and logistics industry; insurance payouts for natural disasters fall to US$95bn; Ireland says insurance price-walking ban is working; insurers fear UK can’t maintain leading global market status; Sara Cody’s Consumer Duty column—key themes from the FCA’s December 2023 webinar; cases & decisions; key dates for your diary; and other news highlights reported over the past week.
NEWS
This week’s edition of Insurance & Reinsurance weekly highlights includes: LMA updates Lloyd's insights hub underwriting development triangles; insurers disadvantaged by EU sustainability reporting rules; PRA publishes approach to the 2025 Life Insurance Stress Test and requests technical input; PRA’s Gareth Truran calls on firms to use Solvency II reforms to support productive investments; cases & decisions; key dates for your diary; and other news highlights reported over the past week.