Legal & Regulation
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Europe’s financial services criticise new data exchange rules
Europe’s insurers and financial services players have called for an impact assessment of new open finance rules under the Financial…
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Jordan’s central bank issues draft insurance bill
The Central Bank of Jordan (CBJ) has completed preparing a draft insurance law, according to a statement by the regulator.…
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IAIS adopts Insurance Capital Standard to promote resilient insurance sector
The International Association of Insurance Supervisors (IAIS) has adopted the global Insurance Capital Standard (ICS), the first comprehensive global capital…
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IAIS report highlights key risks facing global insurance sector
Insurers have maintained stable solvency and profitability levels, supported by strong underwriting performance and robust investment returns, according to the…
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Premiums to fall as UK opts for +0.5% personal injury rate
The personal injury discount rate applied to lump sum compensation awards in England and Wales will change to +0.5% in…
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D&O experts eye US Supreme Court pleading standards case
The US Supreme Court’s looming decision on pleading standards in a securities class action may have a significant impact on…
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Insurers oppose EC plans for further regulation
European insurers have rejected proposals for a wider macroprudential framework of regulation overseeing all non-bank financial intermediaries (NBFI). In response…
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French regulator condemns cash pooling by reinsurance captives
France’s insurance supervisor is optimistic about the development of the French captive market but has warned companies they must not…
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Eiopa calls on EC to exclude smaller insurers from DORA
Europe’s small insurers and reinsurers, which will fall out of the scope of Solvency II under planned new reforms, should…
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UK finalises Solvency II rules and consults on SPV reform
The UK has finalised new rules to replace Solvency II following a four-year long review of the European regime inherited…
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EC told to regulate third-party litigation funding
Europe’s insurers and business groups have called for new rules to regulate third-party litigation funding, which they say has been…
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UK confirms captive regime plans
The UK’s risk and insurance community has welcomed confirmation that the UK will pursue new rules to create a captive…
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DWF expands in Australia with new team
Law firm DWF has recruited the London market team of the Australian law firm Hall & Wilcox, with nine partners…
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US election could bring change to P&C sector
The property and casualty and risk management sector will likely see changes following last week’s election in the US, as…
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German insurers voice concern for Solvency II reform
German insurance association GDV has added its concern about the future of Europe’s Solvency II reforms. Welcoming final adoption of…
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EU insurers should hold extra capital for fossil fuel assets: Eiopa
Europe’s insurers will have to meet additional capital requirements for any fossil fuel assets on their balance sheets to ensure…
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Travelers ordered to pay $37.9m for wrongful conviction settlement
A Missouri state court jury has ordered Travelers to pay $37.9m to six police officers and a man wrongfully convicted…
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Ferma ‘watchful’ of Solvency II proportionality promise
Ferma has called on insurance regulators at both European and national level to ensure reforms to the Solvency II regime…
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European Council signs off Solvency II reforms
The Council of the European Union has signed off both new rules on Solvency II for European insurers and the…
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Insurers call for EC to pull new AI liability rules
Europe’s policymakers should withdraw the proposed AI Liability Directive, which will create legal uncertainty and increase the compliance burden for…