Legal & Regulation
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London ExCel venue wins landmark Covid-19 BI appeal
The UK Court of Appeal has ruled in favour of policyholders and the owner of London’s ExCel conference and exhibition…
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PFAS litigation and exclusions to grow in Europe, experts warn
European companies should brace for much more litigation over the use of so-called forever chemicals, or PFAS, and more insurance…
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Eiopa developing nat cat PPP recommendations
Europe’s insurance supervisor Eiopa said it is actively working on firm recommendations for new public-private partnerships (PPP) to insure more…
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AssuredPartners accuses former execs of soliciting clients
A unit of brokerage AssuredPartners filed a federal lawsuit Monday against two former sales executives and their current employer over…
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Aon unit sues Chinese bank over alleged Vesttoo fraud
Aon unit White Rock Insurance is suing China Construction Bank (CCB), alleging a former bank staff member colluded with reinsurance…
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Lloyd’s gets ratings upgrade from AM Best
Rating agency AM Best has upgraded the financial strength rating of Lloyd’s of London based on its improved balance sheet.…
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MAS backs Allianz Income deal
The Monetary Authority of Singapore (MAS) told MPs in parliament this week that it is happy Allianz’s proposed €1.5bn acquisition…
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Insureds urged to review policy wordings after CrowdStrike
Cyber insurance buyers should review their policies, particularly wordings related to business interruption exposures, to ensure they are adequately covered…
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GDV urges Eiopa to revisit risk factors
The German Insurance Association (GDV) has told the European Insurance & Occupational Pensions Authority (Eiopa) that it should check whether…
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UK financial services falling foul of rising regulatory compliance
More than a third of UK financial services firms (36%) have been penalised for regulatory compliance failures in the last…
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Insurers call for recalibration of Solvency II review
An insurance lobby group has called on the EU to remove “excessive and unnecessary” capital requirements of Solvency II in…
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Former Georgia insurance commissioner sentenced
Former Georgia Insurance Commissioner John W. Oxendine has been sentenced to three and a half years in prison for conspiracy…
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Europe’s insurers call for market experts within European Commission
Europe’s insurers have called on the bloc’s policymakers to overhaul its approach to regulation that “allows, not stifles” competition so…
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Switzerland and Europe resume talks on cross-border regulation after seven-year break
After a seven-year hiatus, Switzerland and the European Union have resumed talks on financial market regulation. The Swiss government said…
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German insurers call for more regulatory efficiency and consolidation
German insurers have called for more efficient financial and insurance sector regulation to “turn around” the current high levels of…
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Europe’s insurers back EU’s Taxonomy Regulation but concerns remain
European insurers support the EU’s Taxonomy Regulation but have a number of concerns over reporting demands for underwriting and investments.…
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GFIA warns of excessive focus on climate risk in IAIS consultation
The Global Federation of Insurance Associations (GFIA) has warned of an “excessive focus on climate risk in corporate governance, remuneration…
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Courts yet to test key aspects of Insurance Act
Almost nine years after the Insurance Act introduced some big changes to UK insurance contract law, key principles have yet…
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Appeals court says no D&O coverage for $145m DOJ settlement
A California appeals court has ruled that an electronic health record software developer cannot use its D&O insurance to cover…
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Brazil closing in on law that many fear will curtail access to global reinsurance and innovation
The Brazilian Senate has approved a bill set to usher in new insurance legislation that worries both corporate insurance buyers…