GRM Legal & Regulation
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Lower capital charges under Solvency II reforms will boost insurers’ ESG investment, says Fitch
The EC’s proposals to lower Solvency II capital requirements for certain long-term investments, in particular renewable energy projects and sustainable…
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EC aims to release insurance capital as it announces Solvency II reform
The EC has proposed changes to Solvency II that it claims will better protect insurance buyers while freeing up €90bn…
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US federal judge refuses to dismiss restaurant chain’s BI Covid-19 suit
A federal US judge who had already ruled in favour of plaintiffs in at least two Covid-19 business interruption lawsuits…
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WTW sues Marsh over poaching 25 employees
Willis Towers Watson (WTW) has filed suit against Marsh in state court in Chicago over the poaching of 25 employees.…
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Hiscox doesn’t have to cover legal fees in dismissed US whistleblower case
A company that faced significant legal fees stemming from a whistleblower lawsuit that was ultimately dismissed does not have coverage…
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Convex gets green light for Luxembourg subsidiary to serve EEA clients
Specialty (re)insurer Convex Group has established a new European subsidiary following regulatory approval for Luxembourg-based business Convex Europe SA (CES).…
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Dale Partners gets ‘in principal’ approval from Lloyd’s to set up managing agency
Dale Partners, the holding company of Dale Underwriting Partners (DUP), has been granted ‘in principal’ approval by Lloyd’s to form…
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Systemic event-driven protectionism set to make life more tricky for multinational insurance buyers
Protectionism is set to rise yet further on the back of the pandemic and other systemic events, making insurance regulations…
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Clyde & Co hires David Kerwin as partner in Australia
Clyde & Co has hired partner David Kerwin, who joins the firm’s national insurance group, based in Brisbane. Clyde &…
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FoS not always the answer for EU programmes
Global insurance programmes are designed to, hopefully, simplify complex cross-border arrangements, and certainly where regulators can co-operate and regulations are…
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Brokerslink adds insurance claims dispute advisory service
Fenchurch Law has become an affiliate of global broking business Brokerslink. The law firm will offer a dedicated advisory service…
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Judge rules hotel chain’s Louisiana Covid-19 BI claims can proceed against Zurich
A Connecticut, US state judge has refused to dismiss Covid-19 business interruption (BI) litigation filed against Zurich Insurance by a…
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Singapore top spot for multinational subsidiary from regulatory standpoint, says report
Singapore has been ranked as the top jurisdiction for multinational companies to base subsidiaries or ‘entities’ from a governance and…
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FM Global unit loses US Covid-19 business interruption cover ruling
A Washington state court has ruled that the Snoqualmie Indian Tribe is owed business interruption (BI) coverage under its policy…
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Allianz reportedly faces BaFin probe into Alpha Funds debacle
News agency Reuters reports that German financial regulator BaFin has launched an investigation into Allianz over the collapse of its US-based…
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First opt-out class action heads to UK courts
On 18 August 2021, the UK’s Competition Appeal Tribunal (CAT) handed down an eagerly awaited judgment in the Merricks v…
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Court rules against Chubb in US D&O case
A Chubb unit must advance defence costs under its management liability policy to a Chicago mortgage broker that was the…
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Concern over potential wave of casualty catastrophes
Insurers and risk managers are scrambling to prepare for a potential wave of casualty catastrophes that could create losses of…
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Berenberg estimates €3.5bn to €6.8bn loss for Allianz in Structured Alpha probe
Allianz is likely on the hook for a €3.5bn ($4.1bn) loss linked to its Structured Alpha fund in the US,…
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Allianz Life Bermuda fined $1.7m by Bermuda Monetary Authority
Allianz Life Bermuda has been fined $1.7m for significant breaches of anti-money laundering and anti-terrorist financing regulations, and is to…
