Insurance Europe calls for removal of trade and market access barriers

Insurance Europe calls for removal of trade and market access barriers

Insurance Europe calls for removal of trade and market access barriers

A number of trade and market access barriers that European (re)insurers face in Argentina, Brazil, Canada, India and Indonesia should be removed, according to Insurance Europe. These barriers include restrictions on cross-border (re)insurance, (re)insurance retention limits, foreign exchange restrictions, rights of first refusal, and foreign ownership restrictions. “Removing these barriers is vital to reduce protection gaps and to avoid dangerous…

DLA Piper hires insurance and class action partner in Australia/UK

DLA Piper hires insurance and class action partner in Australia/UK

DLA Piper hires insurance and class action partner in Australia/UK

DLA Piper has hired insurance and class action specialist Tricia Hobson from Norton Rose Fulbright. She will join DLA Piper’s Sydney and London offices. She was a partner at Norton Rose Fulbright for more than 13 years. During 2018, she was the firm’s first female chair of the global board, in addition to being the Asia-Pacific head of insurance and…

Camillo leads new insurer consortium to boost cyber risk management

Camillo leads new insurer consortium to boost cyber risk management

Camillo leads new insurer consortium to boost cyber risk management

A group of leading insurers have launched CyberAcuView under the leadership of AIG’s former head of cyber in EMEA Mark Camillo, to boost cyber risk mitigation and drive better insurance solutions. AIG, AXIS, Beazley, Chubb, The Hartford, Liberty Mutual Insurance and Travelers are among the group of cyber insurers sponsoring and supporting CyberAcuView. Using the collective expertise of its members,…

GDPR could be the target of UK’s post-Brexit ‘red tape’ cutting

GDPR could be the target of UK’s post-Brexit ‘red tape’ cutting

GDPR could be the target of UK’s post-Brexit ‘red tape’ cutting

An independent report into post-Brexit UK regulation, commissioned by the country’s Prime Minister, has recommended replacing the General Data Protection Regulation (GDPR) and reforming insurance rules as part of a new proportionate risk-based and growth-orientated approach. The independent Taskforce on Innovation, Growth and Regulatory Reform said Brexit offered a “one-off opportunity to set out a bold new UK regulatory framework…

DOJ complaint threatens to scupper Aon-WTW deal

DOJ complaint threatens to scupper Aon-WTW deal

DOJ complaint threatens to scupper Aon-WTW deal

The US Department of Justice (DOJ) has filed a civil antitrust lawsuit in the US District Court for the District of Columbia, to block Aon’s planned $30bn acquisition of Willis Towers Watson (WTW). The DOJ says the combination of the two firms, turning the ‘Big Three’ into the ‘Big Two’, would seriously limit choice and competition for customers, inevitably lead…

Wind: Mitigating the environmental impact

Wind: Mitigating the environmental impact

Wind: Mitigating the environmental impact

While the climate case for renewables is undeniable and the economic case is becoming increasingly compelling, clean energy does present some threats to the environment that need to be navigated. The potential benefits of renewable energy sources such as wind, solar, hydro, tidal and geothermal are widely known, including a reduction in greenhouse gas emissions, the diversification of energy supplies…

German insurers welcome EC proposals on AI

German insurers welcome EC proposals on AI

German insurers welcome EC proposals on AI

The European Commission’s legislative proposal on artificial intelligence (AI) published on 21 April is a promising prospect for the insurance sector, according to an online panel discussion held by the German Insurance Association (GDV). By finalising the proposal, the Commission concluded a process that started in 2018, when it and member states agreed to cooperate on AI policy and investment.…

Insurers settle just one third of UK Covid-19 claims following BI test case

Insurers settle just one third of UK Covid-19 claims following BI test case

Insurers settle just one third of UK Covid-19 claims following BI test case

Only one third of policyholders that have filed a Covid-19 business interruption (BI) claim related to the Financial Conduct Authority’s (FCA) test case have settled with their insurer and received payment in full, according to the latest figures. Insurers have accepted 37,702 claims, but a further 9,152 policyholders are still awaiting a decision from their insurer. Of the accepted claims,…

Scor and Barclays settle legal action after Covéa peace deal

Scor and Barclays settle legal action after Covéa peace deal

Scor and Barclays settle legal action after Covéa peace deal

Scor and Barclays have agreed to settle a civil court case due to start in London’s High Court this week, just days after Scor and Covéa buried the hatchet on their long-running feud. The settlement ends Scor’s action against Barclays, which the reinsurer accused of breach of confidence when it acted as an adviser for Covéa’s €8.2bn unsolicited takeover bid…

Aon-WTW deal to get EC approval by early July latest: Reuters

Aon-WTW deal to get EC approval by early July latest: Reuters

Aon-WTW deal to get EC approval by early July latest: Reuters

Aon is expected to get EC approval for its takeover of Willis Towers Watson (WTW) later this month or in early July, according to Reuters sources. The $30bn deal is set to be approved by EU antitrust regulators after Aon agreed to several divestments in Europe. The EC is due to decide on the deal by 3 August but people…

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