GRM Legal & Regulation
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DAC Beachcroft adds to New York insurance team
DAC Beachcroft has added an insurance coverage team to its newly formed New York office. Partner J. Gregory Lahr and…
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Tobacco companies settle Canada litigation for C$32.5bn
Three tobacco companies have agreed to pay C$32.5bn (€20.84bn) to settle long-running lawsuits in Canada that claimed units of Philip…
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US tariffs to negatively impact insurance industry, says Best
US-imposed tariffs on leading trade partners are expected to generate greater uncertainty for insurers and prolonged tariffs will likely weigh…
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Pakistan’s regulator recommends major changes to insurance regulatory framework
The insurance regulator has recommended major amendments to strengthen the insurance industry’s risk absorption capacity, bolster financial stability, and provide…
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Trump tariffs could add $24bn to US auto claims costs: APCIA
The Trump administration’s tariffs on Canada, China and Mexico will likely disrupt rebuilding efforts after recent catastrophes and increase the…
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New risk-based regulations for Indonesian insurance industry
The Financial Services Authority (OJK), the Indonesian insurance regulator, with effect from 24 March 2025, will implement a new regulatory…
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India’s regulator forms review panel to look into industry reforms
The Insurance Regulatory and Development Authority of India (IRDAI) has formed a high-powered committee to review significant changes to the…
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UK Court of Appeal gives policyholders mixed news in latest Covid-19 BI judgement
The UK Court of Appeal has handed down its latest landmark judgement in long-running Covid-19 business interruption (BI) insurance disputes,…
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Captive manager sentenced to nine months in prison
A South Carolina-based captive manager has been sentenced to nine months in federal prison for money laundering. Peter J. Strauss,…
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California wildfire protection gap requires regulatory reform: Howden Re
The only viable path to restoring much-needed insurance market stability for California following the Los Angeles wildfires includes accelerated adoption…
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Regulation, cyber, ESG and macro-economic conditions dominate D&O concerns
ESG factors and macro-economic conditions have joined cyber and regulatory as major issues for directors and officers, says a report…
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Regulatory proceedings dominate D&O liability claims
Regulatory breaches, including health and safety violations, environmental infractions, and data protection failures, represent 34% of all notified D&O claims,…
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Ferma working to spread French captive rules across Europe
Ferma has told Commercial Risk that it believes the new French captive regime has “clear potential to be replicated in…
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IAIS shifts focus to implementing supervisory material
The International Association of Insurance Supervisors (IAIS) is said it will now focus on a comprehensive and globally consistent implementation…
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Uncertain legal landscape around AI increases risk of litigation, says Rising Edge
The use of artificial intelligence (AI) and statements about AI will surely lead to security class actions in the US,…
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Connecticut lawmakers considering captive changes
The Connecticut House Insurance and Real Estate Committee will hold a public hearing this week for a proposed bill that…
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Egypt increases insurers’ capital requirements to enhance solvency
Egypt’s Financial Regulatory Authority (FRA) has issued a decision to increase the minimum capital of insurance companies to enhance financial…
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Brokers fear EU regulators could block broker access to London market
The London & International Insurance Brokers’ Association (LIIBA) is worried about rising regulatory interest in Europe in multinational programmes that…
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Litigation expected to be even bigger US risk in 2025
Nearly half of US corporate counsel expect the number of lawsuits and regulatory investigations impacting their organisations to increase in…
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China and US sign insurance sector MOU
China’s National Financial Regulatory Administration and the US Treasury’s Federal Insurance Office have signed a memorandum of understanding (MOU) related…