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NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: lawyers question UK’s sanction muscle two years after invasion; the Association of British Insurers (ABI) produced an artificial intelligence guide; insurers warned to be alert to escalation in Middle East; insurance M&A hits ten-year low amid political uncertainty; the Financial Conduct Authority (FCA) fired warning shot over city’s Consumer Duty failings; the Prudential Regulation Authority (PRA) published PS2/24: Review of Solvency II—adapting to the UK insurance market; 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: FCA rejects business coronavirus (COVID-19) claim deadline extension application; BOC Aviation reaches settlement with Cathedral Capital over stranded planes, plus key cases and dates for your diary.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: businesses argue for £80m in COVID-19 payouts from insurers; engineer can't persuade top court to block repairs case; Marsh settles US$143m claim over losses in Greensill collapse; 'marked increase' in Brits turning to private health insurance; the case of Deinon Insurance Brokers LLC v Reen; plus other recent cases and dates for your diary.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: EBRD launches €1bn insurance facility for Ukrainian exports; Cocktail bar chain settles £4m COVID-19 loss insurance claim; Fenchurch warns on coronavirus (COVID-19) insurance claim limitations; Myanmar earthquake exposes insurance protection gap; UK government may face £70m in claims from fire insurance scheme; Claims groups slam government report on personal injury reform; Insurers could pick up bill for replacing dangerous cladding; Claims firm beats whistleblower’s fraud case; FCA presses London insurers into misconduct training; EIOPA recommends 100 percent capital requirement for cryptoasset holdings of EU (re)insurers; cases and decisions; and key dates for your diary.
NEWS
This week's edition of Insurance weekly highlights includes: Geopolitical instability tops aviation insurers' concerns; Insurers hike marine premiums due to Iran-Israel war; ABI supports government’s industry strategy; EIOPA launches consultation on revised supervisory review guidelines under Solvency II; EIOPA publishes first supervisory report on biodiversity risk management by insurers; ESAs jointly consult on draft guidelines for ESG stress testing in banking and insurance; IAIS consults on draft Application Paper for insurance sector operational resilience; IAIS publishes application paper on supervision of AI in insurance; IAIS publishes high-level principles for ICS implementation; UNEP PSI publishes first nature-related risk guidance for insurers plus dates for your diary and key recent cases.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: reinsurer loses appeal over £69m coronavirus (COVID-19) catastrophe claim; insurers set for mega-trial over ‘lost’ planes stuck in Russia; AXA XL denies US$190m claim for planes stranded in Russia; Lloyd’s says forgery sinks claim over ship struck in Ukraine; Santander, Skipton beat attempts to re-open PPI settlements; insurers forecast to take €2.1bn hit from European floods; insurance to fall as motor injury rate is cut in Scotland and NI; review of Solvency II: PRA issues statement on existing Solvency II rule waivers and modifications; BoE plans to fast-track insurance special purpose vehicles; FCA plans new measures on non-financial misconduct; EIOPA outlines work programme for 2025; EIOPA seeks views on supervision of IORPs’ liquidity risk management; 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: EIOPA’s technical advice on minimum common standards for insurance guarantee schemes, plus key cases and dates for your diary.
NEWS
This week's edition of Insurance weekly highlights includes: WRBC Corporate Member Ltd v AXA XL Syndicate Ltd; Minh v Da Guang Tankers (Private) Ltd; PRA publishes low impact amendments consultation LIAC01/26; HMT sets out next steps on changes to the Risk Transformation Regulations; PRA consults on change to treatment of funded reinsurance; Amendment to Solvency II ITS on exposures to regional governments and local authorities treated as exposures to central government published in Official Journal; EIOPA submits draft RTs and ITS on resolution colleges and resolution reporting for IRRD; FSB issues guidance on scope of insurers subject to recovery and resolution planning requirements; IAIS consults on Issues Paper addressing challenges assessing insurance value; plus key cases and dates for your diary.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: HDI reaches settlement on planes stranded in Russia; AerCap says insurers are on the hook for stranded planes; AerCap says sanctions don’t excuse insurers for lost jets; Steakhouse settles with QIC Europe over COVID-19 payout; NFU Mutual denies liability in £10m COVID-19 loss dispute; Insurers challenged over furlough cuts on COVID-19 claims; the cases of Wyllie and others v Joseph and others and Birley & Anor v Heritage Independent Living Ltd; Hotel group Brittania settles with Aviva over £6.2m payout; FCA sends portfolio letter to wholesale brokers; IAIS publishes roadmap 2025–2026; 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: the PRA’s updated statement of policy on it’s approach to the publication of Solvency II technical information, Elliott v The Members of Lloyds Syndicate 4444 as Constituted for the 2017 Underwriting Year of Account Acting Through their Managing Agent Canopious Managing Agents Ltd, plus key cases and dates for your diary.
NEWS
This week's edition of Insurance & Reinsurance weekly highlights includes: major insurers face £472m claim for Russia-stranded planes; shipping losses hit all-time low despite growing risks; four out of five people unaware of common motor insurance scam; IUA welcomes decision on Financial Services Compensation Scheme; firms to recommence GAP insurance sales following FCA action; PRA publishes final policy on its approach to authorisation and supervision of insurance branches; FSCS cuts 2024/25 levy forecast to £265m; 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: Allseeds Switzerland SA v Intergrain SA; Evergreen marine sues Lloyd’s in US$725,000 cargo payment dispute; Ship owner disputes Amlin's use of 'draconian' pay first clause; FCA chief warns of UK cyber-insurance protection gap; £1.9bn Jaguar cyberattack UK's 'most economically damaging'; Equitas loses £3.8m dispute over RSA asbestos settlements; Companies hit with 1.85 million complaints in six months, FCA says; PRA finalises Matching Adjustment Investment Accelerator framework for insurers; European Commission adopts amendments to Solvency II regulation plus key cases and dates for your diary.