GRM Legal & Regulation
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August 8, 2022
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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August 1, 2022
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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July 25, 2022
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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July 22, 2022
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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July 19, 2022
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…
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July 18, 2022
AM Best affirms Lloyd’s A financial strength rating as performance rebounds
AM Best has affirmed the financial strength rating of A (excellent) and the long-term issuer credit ratings of a+ (excellent)…
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July 18, 2022
Amended Vietnamese insurance law to boost approval of new products
Vietnam has amended its Insurance Business Law with several changes that will have a long-term impact on the Vietnamese insurance…
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July 7, 2022
Calls for more progress in liberalisation of insurance regulation in Brazil
Insurance Europe believes more ambition is needed to support the ability of European (re)insurers to place business in Brazil on…
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July 7, 2022
European insurers call for realistic approach to climate-related risk regulation
Regulatory approaches to climate-related risk should reflect realties of insurance business, according to Insurance Europe in its response to a…
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July 5, 2022
Concern over discriminatory measures applied to foreign (re)insurers in India
The recent changes in Indian reinsurance regulations have introduced some positive developments towards the further opening of the (re)insurance sector,…
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July 5, 2022
Global insurers urge central banks to take decisive action on inflation
Global insurers have called for central banks to take decisive action to tame rampant inflation, rein in underlying inflation expectations…
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July 5, 2022
European (re)insurers face significant barriers when placing business in Argentina, says Insurance Europe
Insurance Europe has warned that European (re)insurers continue to face significant barriers when placing business in Argentina and has called…
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June 30, 2022
IAIS highlights regulatory challenges in supervising insurer conduct
A survey of International Association of Insurance Supervisors (IAIS) members on current supervisory approaches and challenges related to using key…
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June 29, 2022
SiriusPoint’s A- rating placed on creditwatch by S&P
Ratings agency S&P has placed its A- financial strength rating of Bermuda (re)insurer SiriusPoint on watch for a potential downgrade.…
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June 27, 2022
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…
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June 23, 2022
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…
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June 22, 2022
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…
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June 22, 2022
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…
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June 16, 2022
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…
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June 15, 2022
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…