GRM Legal & Regulation
-
US casino Covid BI ruling turns against insured in favour of Zurich, AIG and Allianz
A New Jersey appeals court overturned a lower court and ruled against an Atlantic City casino and in favour of…
-
Eiopa promises to give volatility facing Europe’s insurers its ‘full attention’
The European Insurance and Occupational Pensions Authority (Eiopa) says the combined impact of Covid-19, supply chain bottlenecks, Russia’s invasion of…
-
Policyholders score some ‘influential’ wins in US Covid rulings
A Louisiana appeals court’s refusal to dismiss policyholder litigation in a Covid-19-related business interruption (BI) case is a significant ruling…
-
Ferma makes breakthrough on captive treatment under Solvency II
The French presidency of the Council of the EU and the European Parliament’s rapporteur driving revisions to Solvency II have…
-
Botanical garden wins Covid BI ruling against Allied World in US
In a rare policyholder win, a New York state appeals court has upheld a lower court decision that the New…
-
UK regulator slams London market brokers over ‘poor culture’ and ‘poor value’ for buyers
The UK’s Financial Conduct Authority (FCA) has told Lloyd’s and London market brokers and managing general agents (MGAs) they are…
-
Greenberg says rivals’ net-zero promises expose them to litigation
CEO of Chubb Evan Greenberg said his firm will continue underwriting oil and gas risks and that “vague words” from…
-
IRS targets Puerto Rican captive insurance arrangements
Certain captive arrangements have again appeared on the US Internal Revenue Service’s (IRS) Dirty Dozen list for 2022, which includes…
-
Vermont allows captives to issue parametric coverage
Vermont will allow captives domiciled in the state to cover and buy parametric risk transfer products, which pay claims based…
-
LMG calls for London market reforms to have ‘teeth’
The LMG is calling for the UK government’s recently announced Financial Services and Markets Bill, which in part aims to…
-
US 11th Circuit again rules against policyholder in Covid case
A federal appeals court has issued its third ruling this week against a policyholder in a Covid-19-related business interruption lawsuit,…
-
Shipowners face higher emissions costs under General Average
Shipowners will soon face potentially significantly higher costs when forced to deviate to an EU port, because they will be…
-
Allianz settles with DOJ and SEC over Structured Alpha funds
Allianz has announced that its indirect subsidiary Allianz Global Investors (AGI) US has entered into settlements with the US Department…
-
Peru sues Repsol and insurer Mapfre for oil spill damage
The government of Peru has filed a civil lawsuit against oil firm Repsol and its insurer Mapfre, claiming $4.5bn in…
-
Report highlights insurance regulatory changes in Mexico, Brazil and India
Global Insurance Law Connect’s (GILC) 2022 Radar Report has highlighted a number of regulatory changes impacting the insurance sector in…
-
Global Insurance Law Connect report highlights cyber risks from war in Ukraine
The latest edition of the annual Risk Radar Report from Global Insurance Law Connect (GILC) warns of the impact of…
-
Insurers to be told to stop covering Russian oil exports in effort to sink Putin
As European Commission (EC) President Ursula von der Leyen announced the sixth package of sanctions on Russia, including a complete…
-
Ferma continues battle to get proportionate captive treatment under Solvency II
The European risk management federation Ferma has held two recent meetings with the French government, which holds the presidency of…
-
Likely rate increases through 2022 back stable outlook for London market, says AM Best
AM Best expects insurance rates to continue hardening this year, which is a big factor in holding its stable outlook…
-
US Internal Revenue Service could improve offshore insurance investigations, says GAO
The US Internal Revenue Service (IRS) could improve its reviews of offshore insurance audits and investigations, and in particular better…
