Legal & Regulation
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IAIS highlights role of supervisors in response to future pandemics
The response to future pandemics is likely to involve multi-stakeholder insurance-based programmes, and insurance supervisors could act as a bridge…
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Independent unified insurance regulator to be established in Saudi Arabia
The authorities in Saudi Arabia have approved the establishment of an independent regulatory authority to oversee the insurance sector and…
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New assistant director of captive insurance in Vermont
Jim DeVoe-Talluto has been promoted to assistant director of captive insurance at the Vermont Department of Financial Regulation. DeVoe-Talluto replaces…
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BoE will not enter regulatory ‘race to the bottom’ to win business
The Bank of England (BoE) has said it will not engage in a “regulatory race to the bottom” to attract…
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Dutch insurers reject need for deforestation regulation at EU level
The Dutch Insurance Association (VVN) has said the EC’s recently announced proposals for a regulation to effectively ban products that…
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The risk management implications of the EU Green Deal
In 2020, the EU approved the European Green Deal, ushering in a wave of sustainability initiatives across all sectors. For…
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Vermont becomes first US high court to rule in policyholders’ favour over C-19 BI
The Vermont Supreme Court has become became the first US state high court to rule in policyholders’ favour over Covid-19-related…
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Clyde & Co launches global cyber risk network to boost resilience
Law firm Clyde & Co has launched a new cyber risk service for clients to boost their response to cyberattacks.…
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French insurers bow to political pressure to contain market hardening
France Assureurs, the French insurance association, has announced that during a meeting with government this week, insurers pledged to do…
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Insurance Europe calls for supervision of third-party litigators under collective redress directive
The European parliament plenary session has adopted German MEP Axel Voss’s own initiative legislative report that aims to ensure responsible…
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European insurance supervisors warned of challenges ahead
The three European financial Supervisory authorities (ESAs) have issued their Autumn 2022 joint risk report, which warns that the deteriorating…
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Slovak supervisor slammed by EC over Solvency II application
The Slovakian insurance supervisor Národná Banka Slovenska (NBS) has been severely rapped on the knuckles by the EC for failing…
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Amrae welcomes bill that approves ransomware payments by French insurers
Amrae has welcomed a forthcoming bill to explicitly legalise ransomware payments by insurers in France as long as insureds have…
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Reform of Environmental Liability Directive unnecessary, says Ferma
Ferma is against reform of the ELD and, in particular, feels making insurance mandatory would be a step backwards. Ferma…
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Brazil market update: ILS legislation on the way
Tony Dowding talked to João Marcelo Santos, founding partner of Santos Bevilaqua Advogados, and former director and deputy superintendent of…
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Sharma urges market to use IUA FINC clause to clear up confusion
German risk managers, and many others across the world, are becoming increasingly frustrated about a lack of consistency in the…
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Baylor wins Covid business interruption jury verdict against Lloyd’s
A jury has issued a $48.5m verdict in favour of Baylor College of Medicine in a Covid-19 business interruption case…
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Non-life European insurance sector faces downgrades from inflation and rising interest rates: Fitch
Fitch has warned that several of its European insurance sector outlooks could move to deteriorating if high inflation persists and…
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Australian regulators find risk management weakness in insurance sector
Some of the most recent high-profile examples of poor risk management in the financial services sector have been in insurance,…
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DAC Beachcroft expands in Singapore with partner hires
DAC Beachcroft (DACB) has expanded its presence in Singapore with two partner hires from RPC and DLA Piper, in what…
