GRM Legal & Regulation
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IAIS highlights role of supervisors in response to future pandemics
The response to future pandemics is likely to involve multi-stakeholder insurance-based programmes, and insurance supervisors could act as a bridge…
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Independent unified insurance regulator to be established in Saudi Arabia
The authorities in Saudi Arabia have approved the establishment of an independent regulatory authority to oversee the insurance sector and…
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New assistant director of captive insurance in Vermont
Jim DeVoe-Talluto has been promoted to assistant director of captive insurance at the Vermont Department of Financial Regulation. DeVoe-Talluto replaces…
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US banks fined $2bn for failure to keep records
Wall Street banks are to pay penalties totalling more than $2bn for failing to maintain and preserve electronic communications. The…
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Vermont becomes first US high court to rule in policyholders’ favour over C-19 BI
The Vermont Supreme Court has become became the first US state high court to rule in policyholders’ favour over Covid-19-related…
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Clyde & Co launches global cyber risk network to boost resilience
Law firm Clyde & Co has launched a new cyber risk service for clients to boost their response to cyberattacks.…
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Reform of Environmental Liability Directive unnecessary, says Ferma
Ferma is against reform of the ELD and, in particular, feels making insurance mandatory would be a step backwards. Ferma…
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Brazil market update: ILS legislation on the way
Tony Dowding talked to João Marcelo Santos, founding partner of Santos Bevilaqua Advogados, and former director and deputy superintendent of…
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Sharma urges market to use IUA FINC clause to clear up confusion
German risk managers, and many others across the world, are becoming increasingly frustrated about a lack of consistency in the…
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Baylor wins Covid business interruption jury verdict against Lloyd’s
A jury has issued a $48.5m verdict in favour of Baylor College of Medicine in a Covid-19 business interruption case…
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Australian regulators find risk management weakness in insurance sector
Some of the most recent high-profile examples of poor risk management in the financial services sector have been in insurance,…
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DAC Beachcroft expands in Singapore with partner hires
DAC Beachcroft (DACB) has expanded its presence in Singapore with two partner hires from RPC and DLA Piper, in what…
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Insurer wins Covid BI ruling in Washington as insured wins Californian case
Washington became the fifth US state supreme court to rule in insurers’ favour over Covid-related business interruption (BI) litigation, when…
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EU clarifies ban on carrying and insuring Russian fertilisers and coal applies worldwide
The EU has made clear to EU-based shipowners and the international marine insurance community that its new rules on carrying…
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Inflation and supply chain problems spark Kemper downgrade
The first half 2022 insurer and reinsurer results have been dominated by two key themes: financial market volatility leading to…
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Appeals over Australia’s Covid-19 BI test case ruling set for court
Australia’s High Court will hear appeals from two policyholders and carrier IAG following a ruling by the country’s Full Court…
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Paramount and Chubb settle over Mission Impossible 7 Covid delays
Paramount Pictures has settled its coverage litigation with a Chubb unit over Covid-19-related delays in the production of its Mission…
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Insurance Europe defends exclusions in face of regulatory review
Insurance Europe, the representative body for the European insurance sector, has argued a robust defence of how and why exclusions…
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UK Solvency II reform needs performance targets to avoid tickbox exercise, say insurance bodies
Leading London and UK insurance market representative groups have reacted to the publication of the draft post-Brexit Financial Services and…
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Travelers sued by UK luxury jeweller Graff for denying ransomware claim
High-end jeweller Graff Diamonds is suing insurer Travelers for denying its cyberattack claim, after reportedly paying millions in ransom to…
