GRM Legal & Regulation
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May 27, 2022
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…
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May 27, 2022
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,…
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May 25, 2022
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…
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May 18, 2022
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…
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May 17, 2022
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…
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May 17, 2022
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…
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May 16, 2022
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…
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May 5, 2022
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…
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May 3, 2022
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…
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April 26, 2022
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…
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April 26, 2022
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…
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April 25, 2022
US restaurants lose Covid BI ruling in first state high court decision
The Massachusetts Judicial Supreme Court has joined federal appeals courts in ruling against policyholders in a Covid-19 business interruption (BI)…
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April 21, 2022
Alberta introduces bill to boost reinsurance and captives in province
A bill to amend Alberta, Canada’s insurance legislation has been introduced, which the provincial government said would spur Alberta-grown insurance…
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April 14, 2022
Fitch revises outlook on Allianz’s China operation to negative
Fitch has revised its outlook on Allianz’s 50%-owned Chinese company to negative from stable because of pressure on its capitalisation…
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April 12, 2022
Increasing climate litigation to focus attention on ESG
Climate change litigation is not new but cases are growing and the range of companies at risk has expanded considerably…
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April 12, 2022
US insurance regulators adopt TCFD reporting standards for climate risks
A bipartisan group of US state insurance regulators have adopted a new standard for insurers to report their climate-related risks,…
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April 7, 2022
Pressure builds on UK Treasury to cut red tape to foster ILS and captive growth
The London insurance market has told the economic secretary to the Treasury, John Glen MP, that it is worried the…
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April 1, 2022
UK to revisit captive and ILS regulation
The UK looks set to review legislation on captives and insurance-linked securities (ILS) as the country aims to bolster the…
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March 30, 2022
AM Best suspends Russian activities
Ratings agency AM Best has suspended all commercial activities with clients in Russia and withdrawn all credit ratings on Russia-based…
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March 28, 2022
Clyde & Co and BLM agree merger
Global law firm Clyde & Co and UK-headquartered insurance specialist BLM will merge, after partners of both firms voted in…