Legal & Regulation
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New bill threatens capacity for corporate risks in Brazil
A bill that creates an Insurance Code in Brazil has spooked corporate insurance buyers, who fear that it may reverse…
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Insurer sues Aon over alleged Vesttoo fraud
Clear Blue Insurance and its affiliates have sued Aon, alleging the brokerage exposed the insurer to hundreds of millions in…
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Insurance Europe ‘disappointed’ by EC progress on cutting reporting burden
Insurance Europe has criticised the European Commission for falling short on commitments to reduce the reporting burden on European companies…
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CFC top officers to step down following Lloyd’s investigation
CFC Underwriting said two of its top officers will be stepping down and has named a new CEO, following the…
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Companies must ensure CISOs are covered under D&O policies, experts say
Chief information security officers (CISOs) are likely to become targets for regulators and plaintiff attorneys in the US as part…
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UK to follow French lead as government consults on new captive regime
The UK risk and insurance management community received good news from its government this week, which announced plans to deliver…
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UK insurers uncertain over Solvency II reform timeline
The UK government said this week it will introduce secondary legislation to make changes to Solvency II measures for UK…
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Brokers Tysers and H.W. Wood fined for Ecuador bribery by US DOJ
The US Department of Justice (DOJ) has fined UK-based reinsurance brokers Tysers and H.W. Wood for paying bribes to Ecuadorian…
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Transition plans and ESG transparency vital for cover as insurers grapple with EU rules
Insurers will only be able to fully support European clients that comply with a raft of new EU ESG rules…
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Ivass ramping up pressure on Italian insurers’ ESG credentials
The Italian insurance supervisor Ivass will more closely monitor the sustainability related investment and underwriting activities of insurers after its…
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Aeroflot and BOC Aviation agree insurance deal over stranded aircraft
Russian airline Aeroflot has reportedly agreed a settlement with Singapore-based leasing company BOC Aviation that will see nine aircraft handed…
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Swiss insurers request self-regulation on greenwashing
The Swiss Insurance Association (SIA) has told the Federal Department of Finance (FDF) that its planned principles-based greenwashing regulation is not necessary…
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Insurance Europe criticises EC’s proposals for financial data access
The European Commission’s proposed legislative changes for managing data in the financial services sector should exclude commercial customers and only…
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IAIS urges insurance supervisors to act over nat cat protection gaps
The International Association of Insurance Supervisors (IAIS) published its report A call to action: the role of insurance supervisors in…
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Indonesian regulator unveils insurance development roadmap
Indonesia's Financial Services Authority (OJK) has published its Roadmap for the Development and Strengthening of the Indonesia Insurance Industry 2023-2027.…
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Helvetia opts for UK branch as Brexit arrangement nears end
Swiss insurer Helvetia Global Solutions will underwrite specialty lines business from its UK branch after receiving regulatory approval ahead of…
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Climate groups urge IAIS to take action on insurers over climate crisis
More than 30 climate, environmental and consumer protection groups have called on the International Association of Insurance Supervisors (IAIS) “to…
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Indonesian regulator plans to bring in compulsory insurance
The Indonesian Financial Services Authority (OJK) is currently drafting government regulations for mandatory insurance in Indonesia for mass events and…
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IAIS elects new chair of executive committee
Shigeru Ariizumi, vice minister for international affairs at the Financial Services Agency of Japan, has been elected chair of the…
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EIOPA consults on captive supervision ahead of SII review
Good news for Europe’s captive owners came just before they met in Antwerp for the Ferma Seminar as the European…