Legal & Regulation
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Merck ruling demands sharper focus on cyber risk management as cover tightens
The recent ruling by the New Jersey Superior court that insurers need to pay pharma giant Merck $1.4bn for losses…
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QBE files poaching suit against Applied Underwriters
QBE Insurance Group units filed suit against Applied Underwriters earlier this week in connection with Applied’s hiring of 13 people…
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Trump Organization accused of misleading Zurich over surety bonds
New York authorities have outlined alleged misrepresentations by the Trump Organization in its purchase of surety bonds from Zurich Insurance,…
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Expect further tightening in cyber cover after $1.4bn Merck award
The recent ruling by the New Jersey Superior Court that Chubb and other insurers need to pay pharmaceutical giant Merck…
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UK bars four EU financial services firms under post-Brexit regime
Four European financial services firms have been barred from conducting business in the UK, after its regulator said they failed…
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European insurers tell EC proposed Solvency II changes would add avoidable costs
The European insurance trade association has told the EC that its proposed changes to Solvency II include elements that would…
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UK to review London market regulations after push for more proportionate rules
A new UK parliamentary investigation into London insurance market regulation is an “opportunity” for more proportionate rules to secure the…
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DAC Beachcroft highlights ESG, class actions and social inflation as big issues for 2022
Environmental, social and governance (ESG), class actions and social inflation all feature prominently in the latest insurance predictions from DAC…
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Insurer wins two more Covid-19 BI rulings in US
Two US federal appeals courts have again ruled that policyholders are not entitled to Covid-19-related business interruption (BI) coverage. As…
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Ferma pushes for further progress on captives in Solvency II review
Ferma has welcomed proposed changes to Solvency II that would strengthen the concept of proportionality, and in particular the creation…
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Insurer challenges in 2022 include civil unrest and class actions, says RPC
The latest Annual Insurance Review from law firm RPC highlights a number of issues set to impact insurers in 2022,…
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Insurers call for no major changes to EU product liability rules
European insurers have warned that major changes to EU product liability rules could undermine insurers’ ability to cover certain risks.…
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Insured loses another Covid-19 BI ruling in US
The 5th US Circuit Court of Appeals in New Orleans issued its second ruling of the week on Thursday in…
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Insured loses another Covid BI ruling in US appeals court
The 2nd US Circuit Court of Appeals in New York has become the latest federal appeals court to hold that…
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Another appeals court rejects Covid BI coverage
The 10th US Circuit Court of Appeals in Denver joined five other federal appeals courts on Tuesday in holding that…
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European insurers stand up to Eiopa’s Covid-19 and low interest rate stress test
European insurers could withstand a prolonged Covid-19 pandemic and lower interest rates over the long term, concludes an Eiopa stress…
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European insurers ‘vulnerable’ to cyber and climate risk, warns Eiopa
Climate and cyber risk are “top” of the European Insurance and Occupational Pensions Authority’s (Eiopa) agenda, with later identified as…
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Woolworth sues German state over Covid restrictions
Retailer Woolworth has filed a complaint in a German regional court over recently imposed Covid restrictions, arguing that the measures…
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New EC plan promises to address Solvency II proportionality for mutuals
The Association of Mutual Insurers and Insurance Cooperatives in Europe (AMICE) has welcomed the EC’s new social economy action plan,…
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Fitch improves outlook for QBE group to stable
Fitch Ratings has revised the outlook on all ratings for Australian insurance giant QBE and its subsidiaries to stable from…
