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NEWS
This week's edition of Insurance weekly highlights includes: 'Simple' flood defence measures could save UK £740m a year; Insurers eye 'forever chemicals' exclusions amid claims risk; FSCS declares Gibraltar motor insurer Premier Insurance Company Limited in default; Insurance brokers could face FCA scrutiny over commissions; Kennedys' Rekha Cooke on the FCA senior managers regime; Commission requests EIOPA advice on insurance guarantee scheme standards; EIOPA issues final report on revised guidelines for determining market shares for reporting; EIOPA launches six consultations on Solvency II Review legal instruments; EIOPA publishes guidelines on diversity for (re)insurer boards plus key cases and dates for your diary.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: the case of WTGIL Ltd v Revenue and Customs Commissioners; Gallagher being liable for data breach insurance cover failure; the publication of a report by the European Insurance and Occupational Pensions Authority (EIOPA) on the costs and past performance of retail investment products in insurance and pensions from 2020–2023; the publication of an application paper by the International Association of Insurance Supervisors (IAIS) on the supervision of climate-related risks in insurance sector; cases and decisions; key dates for your diary and other news highlights reported over the past week.
NEWS
This week's edition of Insurance weekly highlights includes: Desai v Wood, Sky UK Ltd v Riverstone Managing Agency Ltd, Insurers brace for disputes when US tariff pause ends, LMA warns of risks after Houthi ship attacks, MHCLG publishes response to consultation on permitted insurance fees for landlords and freeholders, Insurers argue US$37m liability void over director's charges, Chancellor: Mansion House 2025, Leeds Reforms and the Financial Services Growth & Competitiveness Strategy, PRA and FCA consult on Phase One reforms to SM&CR, EIOPA publishes annexes to 2021 opinion on risk mitigation techniques used by insurance undertakings, EIOPA submits first Solvency II technical standards and revised guidelines to European Commission, EIOPA launches consultation on revised supervisory college information exchange guidelines, EIOPA launches consultation to streamline solvency II reporting plus dates for your diary and key recent cases.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: Government launches taskforce to combat spiralling insurance cost; Howden seeks to move part of Aon poaching case to Brazil; FCA launches competition review of premium finance market alongside new government insurance taskforce; 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: Insurers remain liable for Petrofac executives’ bribery defence costs, plus key cases and dates for your diary.
NEWS
This week's edition of Insurance weekly highlights includes: the Association of British Insurers (ABI) notes that devastating storms that swept through the UK in 2023 drove up weather-related insurance claims by more than a third, hitting a record of almost £573m; the Association of Personal Injury Lawyers (APIL) claims that a third of those receiving payouts under the current personal injury discount rate might have been under compensated; The Court of Appeal, Civil Division, in Tyson International Company Ltd v Partner Reinsurance Europe Se dismissed the appellant’s appeal from the decision of the High Court that the document in dispute had been intended to replace the previous contract entered by the parties and that the arbitration clause which it contained was valid and binding; Lloyd’s Market Association (LMA) and Insurance Capital Markets Research (ICMR)’s report on on Lloyd’s 2023 results following the publication of all the syndicates’ accounts; the Financial Conduct Authority (FCA) has published the findings from the Post Implementation Review (PIR) of its rules which aim to improve access to travel insurance for consumers with more serious pre-existing medical conditions and the British Insurance Brokers’ Association (BIBA)’s response; the Prudential Regulation Authority (PRA)’s business plan for 2024/25 and an update on the Solvency II review; cases & decisions; key dates for your diary; and other news highlights reported over the past week.
NEWS
This week's edition of Insurance and Reinsurance weekly highlights includes: claims inflation poised to hit insurers hard in 2026, EY says; Aviva urges brokers to intervene over SME cyber risks; the International Underwriting Association warning that the FCA’s proposed redress arrangements for motor finance customers amount to ‘regulatory overreach’; FCA publishes research on pure protection products to retail customers; plus key cases and dates for your diary.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: Brodies guides on war risk insurance for Ukrainian exports; Allianz loses challenge to £16m coronavirus (COVID-19) loss payout (Various Eateries Trading Ltd v Allianz Insurance plc); motor insurance premiums hit record after 58% surge; BIBA launches 2024 manifesto; PRA eyes cyber and claims inflation as insurance risks in 2024; an expert analysis on Ireland’s new accountability framework; 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: NFU Mutual sued for £10.5m over coronavirus (COVID-19) business losses; why Ukraine aircraft insurance case failed to take off in UK; government launches review of personal injury compensation rate; ABI and insurtech trade group agree to co-operate on innovation; Insurance Europe sets out its priorities for the EU; consumer complaints soar about insurers delaying payouts; PRA outlines next steps for the 2025 dynamic general insurance stress test; cases & decisions; key dates for your diary; and other news highlights reported over the past week.
NEWS
This week's edition of Insurance weekly highlights includes: Unicomer (St Vincent) Ltd v Appeal Commissioners; Shoib Khan’s speech outlining the PRA’s plans for a new UK captive insurance regime; plus key cases and dates for your diary.
NEWS
This week's edition of Insurance weekly highlights includes: Lloyd’s picks AI-driven insurance startups for incubator; Insurance premiums could rise if catastrophe losses mount; AerCap wants £81m costs from insurers in missing jets case; Road traffic accident update—Whiplash Injury Regulations and road traffic accident claims mediation; Insurers told to invest in data to meet cyber-market demand; FCA publishes paper on UK pure protection market; PRA publishes consultation on third-country insurance branch policy updates; Commission Delegated Decision adopted to grant renewal of provisional equivalence under Article 227 of Solvency II to Brazil, Mexico and Japan for further ten year period, plus key cases and dates for your diary.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: Sky can claim more in insurance dispute over faulty roof; Spain can’t enforce €855m oil spill award against insurers; High car insurance keeping 2.6 million from driving in UK; PRA publishes policy statement and supervisory statement on solvent exit planning for insurers; PRA postpones dynamic general insurance stress test and revises stress testing schedule; EIOPA publishes results of 2024 Insurance Stress Test; ECB and EIOPA propose European approach to mitigate economic impact of natural disasters; EIOPA publishes December 2024 Financial Stability Report.