This clause incentivises companies to mitigate climate risk through a reduction in insurance premiums for policyholders who meet agreed disclosure standards regarding climate-related financial risks. In addition to the premium reduction, this clause aims to assist directors to mitigate

In PF2 this is the two year period after the insurance has been put in place and each subsequent two year period. The review is used to decide whether the Authority in a PF2 project will bear an increase in the insurance costs or not.

Law360, London: A London appeals judge has dismissed an insurance claims adjustor's case that his employer's policy on mask-wearing during the coronavirus (COVID-19) pandemic was discriminatory because of his belief in 'bodily autonomy'.

What is the difference between an agent and a broker? Where insurance is transacted through an intermediary, that intermediary is usually either an insurance agent (who normally acts as an agent of a particular insurer or insurers) or an insurance broker (who normally acts as an agent of the insurance buyer). Insurance agents Insurance agents have contractual agreements (known as appointments) with insurers that set up the guidelines for the policies they can offer and the terms of their remuneration. A ‘captive agent’ is an agent dedicated to one insurance company’s product while an 'independent agent' can align themselves with multiple insurers. The insurance agent aims to attract insurance business for their principal(s). Insurance brokers As a representative of the insurance buyer, a broker is independent. Brokers prepare applications to insurers on behalf of the broker’s clients. During the implementation period, brokers acquire a temporary policy, known as a ‘binder’, signed by a representative of the insurance company. After the transition period (which is usually 30 or 60 days), a policy of insurance is issued

Insolvency practitioners (IPs) will be familiar with the traditional litigation funding methods, including conditional fee agreements (CFAs), damages-based agreements (DBAs), third party funding, creditor funding, assignment of a right of action and after-the-event (ATE) insurance. See: Funding of insolvency litigation and investigations—overview. Less familiar, for many, will be the growing use of insurance to manage the risk not just of adverse costs and security for costs, but of their own costs too. Many ATE insurers have expanded their suite of products to include insurance for own disbursements, own counsel’s fees, own solicitor’s fees and the work in progress of restructuring professionals. Since 2013, the insolvency litigation funding market has had to adapt to major reforms in the Legal Aid, Sentencing and Punishment of Offenders Act 2012 including the non-recoverability of CFA success fees and ATE insurance premiums from losing opponents (though these changes were delayed for insolvency-related cases until April 2016). As with major regulatory change in most industries, this led to innovation, some of which has proven to be more successful

Click for the Precedent Insurance analysis spreadsheet. This Precedent Insurance analysis spreadsheet is intended for law firms and is presented in Excel. It can be used to compare insurance products offered by a range of providers, taking account of factors such as the cost of the premium, nature and level of cover provided, relevant exclusions and omissions. It has been populated with two sample entries, which should be deleted. As a general rule, law firms are not permitted to engage directly in insurance distribution activities, unless they are licensed by the FCA. However, law firms are permitted to engage in insurance distribution activities in the capacity of an ancillary insurance intermediary. This is most likely to be relevant to law firms engaging in conveyancing, personal injury or private client work,

This Practice Note is a horizon scanner tracking key future developments in UK Insurance and Reinsurance. It provides details of key dates for your diary (including forecasted dates where the actual date is unknown) and relevant commentary in relation to consultations and other key developments. This horizon scanner does not cover past developments. The Insurance & Reinsurance—trackers and timelines contains a list of Insurance & Reinsurance trackers and timelines covering the developments and regulatory regimes that impact (re)insurance firms in the UK. This horizon scanner does not cover developments outside the UK. For more information on EU Insurance and Reinsurance developments, see the relevant section of EU Law—key developments in 2025 and horizon scanning for 2026. Key developments What’s happening? When? Details Implementation of new insurance liquidity reporting requirements 30 September 2026 On 30 September 2025, the PRA published Policy Statement PS15/25, providing feedback on responses to CP19/24 and setting out its final policy on new liquidity reporting requirements. The requirements are designed to ensure the PRA will have access, both during and in advance

Arbitrations arising from insurance and reinsurance disputes share many common features with other types of commercial arbitration. This Practice Note provides an introduction to ad hoc and institutional arbitration proceedings in the insurance context. It also looks at Bermuda Form arbitration proceedings which may arise from ‘Bermuda Form’ policies, a specific type of excess liability insurance policy. References to ‘insurance’ in this Practice Note relate to ‘insurance and reinsurance’ unless otherwise indicated. The Practice Note covers: • Agreements to arbitrate in the insurance context, institutional and ad hoc arbitration, and • Bermuda Form arbitrations Agreements to arbitrate, institutional and ad hoc arbitration Agreements to arbitrate For arbitration to be available as a dispute resolution, the parties to the insurance contract must either have agreed to submit the dispute or difference that has arisen to arbitration, or must agree, after the dispute has arisen, to do so. It is necessary to determine whether there is a valid agreement to arbitrate and whether the dispute that has arisen is within the scope of that agreement. Sometimes,

Arbitrations arising from insurance and reinsurance disputes share many common features with other types of commercial arbitration but have some distinctive features. This Practice Note covers the distinctive features of insurance and reinsurance arbitrations and provides guidance on arbitral procedure and tactics in an insurance and reinsurance context. For information of the types of insurance arbitration, including ad hoc arbitration, institutional arbitration and Bermuda Form arbitrations, see: Understanding institutional and ad hoc arbitration—overview and Practice Note: Insurance and reinsurance arbitration—an introduction. Distinctive features of insurance arbitrations Common distinctive features of insurance arbitration, considered in more detail below, include: • multiple arbitrations on similar facts, which can raise issues concerning: ◦ appointment of arbitrators ◦ consolidation of proceedings ◦ disclosure of information obtained in one set of proceedings in another ◦ a potential imbalance of information relating to the facts of the underlying dispute between the insured and the insurer. Often the insured is better placed to have knowledge of the circumstances of a loss and possesses more of the relevant documents.

Most (re)insurance lawyers are either litigators or corporate/regulatory lawyers (but rarely both). Most insurance law firms offer both types of service but the emphasis between contentious or non-contentious work varies. Insurance litigators are often instructed to advise on policy coverage. The proper interpretation of the policy wording will determine whether a particular loss is covered. Cover under the policy is kept under review by the litigator as the factual circumstances of a loss are ascertained. They will also act on behalf of their insurer or policyholder client in any dispute that may arise and in relation to any associated subrogated recoveries or claims for contribution. See: Subrogation—overview for further information. If it transpires that a policyholder is not covered in respect of a loss that it had intended should be covered, it is common for the blame to be directed at the brokers who arranged the insurance. Insurance brokers may therefore become involved in coverage disputes and will therefore instruct their own lawyers. For further information, see: Brokers—overview. In liability insurance, insurance

This Practice Note contains a jurisdiction-specific Q&A guide to insurance and reinsurance in Indonesia published as part of the Lexology Getting the Deal Through series by Law Business Research (published: April 2022). Authors: Hadiputranto, Hadinoto & Partners (member firm of Baker McKenzie)—Mita Djajadiredja; Christofer Chandra 1. Identify the regulatory agencies responsible for regulating insurance and reinsurance companies. The Financial Services Authority (OJK) is responsible for regulating insurance and reinsurance companies. 2. What are the requirements for formation and licensing of new insurance and reinsurance companies? Law No. 40 of 2014 on insurance provides three legal forms under which an insurance business can be carried out: limited liability companies, cooperatives and mutual funds. In the private sector, limited liability companies are the most commonly used arrangement for conducting an insurance business. Prior to operating in the insurance sector, a company must obtain an insurance business licence from the OJK. New business licence applicants must satisfy the licensing requirements regulated under various OJK regulations, primarily the following: • the applicant's operational readiness (eg, qualified directors and

This Practice Note contains a jurisdiction-specific Q&A guide to insurance and reinsurance in Luxembourg published as part of the Lexology Getting the Deal Through series by Law Business Research (published: April 2022). Authors: Bonn & Schmitt—Chantal Keereman; Jean-Baptiste Meyrier 1. Identify the regulatory agencies responsible for regulating insurance and reinsurance companies. The Insurance Commission (CAA) is the official and exclusive regulatory authority in charge of the supervision of the insurance sector in Luxembourg. The CAA supervises Luxembourg-incorporated insurance, reinsurance undertakings and professionals of the insurance sector, as well as activities carried out in Luxembourg by foreign entities under the principle of freedom to provide services or to operate through branches located in Luxembourg. This supervision is performed on an ongoing basis, as the regulatory authority must ensure that the insurance and reinsurance undertakings subject to the Luxembourg legislation continue to comply with the conditions under which they are authorised to carry out their activities. 2. What are the requirements for formation and licensing of new insurance and reinsurance companies? Luxembourg insurance and reinsurance