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NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: lessors file Russia-stranded planes cases after major ruling; insurance brokers call for breath amid rising regulation; the Financial Conduct Authority (FCA) sets out Consumer Duty priorities for closed products; the FCA to weigh ‘sensitive, emotive issue’ of probes policy; the FCA calls for more leadership in evidencing the value that brokers play when designing commissions and on policing non-financial misconduct; insurers seek exclusion from EU late payment rules; Insurance Europe press Commission on priorities for capital rules; 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: Managed Legal Solutions Ltd v Hanison (trading as Fortitude Law); QXK v Bair; Royal & Sun Alliance Insurance Ltd (formerly Royal & Sun Alliance Insurance Plc) v Equitas Insurance Ltd; Reinsurers deny liability to Chubb over bill for aircraft loss; Insurers likely to face up to US$600m bill from First Brands; FCA publishes general insurance value measures data for 2024; London insurers push for growth-friendly regulation; PRA publishes consultation and final rules on low impact amendments to its rules and policy plus key cases and dates for your diary.
NEWS
This week's edition of Insurance weekly highlights includes: National House Building Council v Peabody Trust, and Bath Racecourse Company Ltd v Liberty Mutual Insurance Europe Se; case analysis from 7 King’s Bench Walk on the Russian aircraft claims case (Aercap v AIG); UK landlords face group claim over 'hidden' insurance fees; Insurers keen on UK captive regime but fear gold-plating; PRA confirms May 2026 start for general insurance stress test; Retail insurance market: FCA publishes package of reports on cost pressures, claims handling failings and pricing reform impacts; What insurers can do to prepare for PRA 'solvent exit' rules; EIOPA consults on rules for resolution colleges and reporting requirements under IRRD; EIOPA publishes statement with findings on climate risk integration in insurers’ ORSAs; European Commission seeks views on Solvency II proposals, plus dates for your diary and key recent cases.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: Allianz settles £16m coronavirus (COVID-19) loss dispute with restaurant group (Various Eateries Trading Ltd v Allianz Insurance plc); insurer launches UK's first cybercrime recovery service; Government launches taskforce to combat spiralling insurance costs; UK home premiums set to rise as insurers remain in red; PRA Mansion House speech on UK economic growth objective; Review of Solvency II: PRA issues statement on proposed permission requirement for the calculation of loss-absorbing capacity of deferred taxes under the standard formula; EIOPA opens consultation on criteria for selecting insurers to run macroprudential analyses; European Parliament publishes adopted texts of proposed Solvency II amending Directive and IRRD; IAIS issues strategic plan for 2025–2029; 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 an analysis of war risks and governmental risks exclusions and the broader causal test for loss indirectly occasioned by war, upholding insurers' rejection of a €580 million claim for damage to the Nord Stream gas pipelines, plus key cases and dates for your diary.
NEWS
This week's edition of Insurance weekly highlights includes: the Commercial Court’s decision in Zephyrus Capital Aviation Partners 1D Ltd and others v Fidelis Underwriting Ltd and others, rejecting jurisdiction challenges brought by international reinsurers that had sought to rely on Russian exclusive jurisdiction clauses in their reinsurance contracts with Russian airlines; the Court of Appeal’s decision in Tyson International Company Ltd v Partner Reinsurance Europe Se, dismissing 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; the judge in The London Steam-Ship Owners' Mutual Insurance Association Ltd v Trico Maritime (Pvt) Ltd and others, ruling that a Sri Lankan shipping company cannot bring a claim against a London-based insurer in its home country over liability for a sunken container ship because the insurance contract is governed by English law; the European Parliament adopting texts of the proposed Solvency II amending Directive and the proposed Insurance Recovery and Resolution Directive (IRRD); the Prudential Regulation Authority (PRA)’s consultation paper on Solvency II; the House of Lords (HoL) Financial Services Regulation Committee (FSRC)’s response to the Financial Conduct Authority (FCA)’s consultation paper; 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: UK insurers covered €120bn of Russian oil at sea; businesses chase Liberty Mutual for coronavirus (COVID-19) relief; the Lloyd’s Market Association (LMA) publishes 2024 Strategic Focus; billion-dollar disasters hit record high in 2023; the Financial Conduct Authority (FCA) probes insurers for non-financial misconduct; the Prudential Regulation Authority (PRA) consults on solvent exit planning for insurers; 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: some insurers may exit solicitors’ PII market, survey reveals; no major hit from CrowdStrike outage, insurer Beazley says; leaseholders to claim against landlords and insurance brokers over commissions; government launches review of personal injury compensation rate; LMA and IUA launch Sustainability Data Standard Resource for insurers; Sara Cody’s Consumer Duty column—implementation is over. What next?; 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: an analysis on Re The Russian Aircraft Litigation—Operator Policy Claims; the Financial Conduct Authority’s review of insurance financial crime controls; commentary from industry bodies on the impact of AI on insurance; plus key cases and dates for your diary.
NEWS
This week's edition of Insurance weekly highlights includes: the case of Ahmed v White & Company (UK) Ltd; Fraudsters using court ruling to inflate claims, Allianz says; FCA announces £200m motor insurance compensation scheme following claims practice review; Which? makes super-complaint to FCA alleging insurance industry failings, plus key cases and dates for your diary.
NEWS
This week's edition of Insurance weekly highlights includes: Part VII insurance business transfers—evidencing foreign recognition risks (Re Mercantile Indemnity Company Ltd); Insurance cover for imminent risk of damage (Vivid Housing v Allianz); PRA consults on targeted updates to UK Solvency II own funds rules and expectations; FCA publishes regulatory priorities for insurance sector with further sectoral reports expected in March 2026 plus key cases and dates for your diary.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: AmTrust Specialty Ltd (formerly AmTrust Europe Ltd) v Endurance Worldwide Insurance Ltd (trading as Sompo International) [2025] EWCA Civ 755; Trend toward 'mega-insurers' pushing premiums down; Lloyd’s insurers monitoring Iran-Israel impact on shipping; Allianz to Ax 650 UK insurance jobs amid decline in claims; Decoding arbitral disputes: Prestige's jurisprudential legacy; Commission proposes reforms to EU securitisation market; EIOPA publishes 2025 Financial Stability Report, urging vigilance on geopolitical and macroeconomic risks; EIOPA responds to Commission’s consultation on EU capital markets integration; IAIS launches consultation on systemic risk monitoring methodology for individual insurers; IAIS publishes guidance on transitioning to a risk-based solvency regime plus dates for your diary and key recent cases.