Legal & Regulation
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US casino Covid BI ruling turns against insured in favour of Zurich, AIG and Allianz
A New Jersey appeals court overturned a lower court and ruled against an Atlantic City casino and in favour of…
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UK government warned of ‘complacency’ over post-Brexit financial sector and ‘reluctance’ to rebuild EU relationship
The UK government has been warned against “complacency” over the future of the UK’s financial sector since Brexit and its…
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Eiopa promises to give volatility facing Europe’s insurers its ‘full attention’
The European Insurance and Occupational Pensions Authority (Eiopa) says the combined impact of Covid-19, supply chain bottlenecks, Russia’s invasion of…
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DAC Beachcroft and Germany’s BLD deepen partnership on multinational risks
London-based international law firm DAC Beachcroft (DACB) has signed a cooperation agreement to expand its relationship with existing Legalign Global…
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Eiopa demands improved communication and clarity on wordings and exclusions
The European Insurance and Occupational Pensions Authority (Eiopa) has published two consultation papers that seek to address confusion and uncertainty…
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FCA fines JLT Specialty £7.8m for Colombian bribery scandal
UK regulator the Financial Conduct Authority (FCA) has fined JLT Specialty £7.8m for failing to control financial crime that resulted…
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Policyholders score some ‘influential’ wins in US Covid rulings
A Louisiana appeals court’s refusal to dismiss policyholder litigation in a Covid-19-related business interruption (BI) case is a significant ruling…
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Ferma makes breakthrough on captive treatment under Solvency II
The French presidency of the Council of the EU and the European Parliament’s rapporteur driving revisions to Solvency II have…
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CJEU backs Spain in €1bn Prestige oil spill claim against London P&I Club
The Court of Justice of the European Union (CJEU) has ruled that arbitration proceedings brought in the UK by The…
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Botanical garden wins Covid BI ruling against Allied World in US
In a rare policyholder win, a New York state appeals court has upheld a lower court decision that the New…
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UK regulator slams London market brokers over ‘poor culture’ and ‘poor value’ for buyers
The UK’s Financial Conduct Authority (FCA) has told Lloyd’s and London market brokers and managing general agents (MGAs) they are…
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UK pub chain begins £1bn Covid-19 BI litigation against three insurers
UK hospitality group Stonegate began its £1bn legal action yesterday against three insurers over business interruption (BI) caused by Covid-19…
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Claims expert warns EU risk managers to prepare for more consumer lawsuits
The EU Class Actions Directive will soon be implemented across Europe and will inevitably lead to more consumer lawsuits and…
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State guarantees likely to provide enough cover to keep Russian ships sailing, say Reuters sources
State-owned Russian National Reinsurance Co (RNRC) is now backing the bulk of insurance cover for Russian ships through state guarantees,…
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Greenberg says rivals’ net-zero promises expose them to litigation
CEO of Chubb Evan Greenberg said his firm will continue underwriting oil and gas risks and that “vague words” from…
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Russia says state guarantees could bypass EU’s ban on insuring oil exports
Russia thinks it can bypass the EU’s ban on insuring ships carrying Russian oil to third parties by using state…
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UK buyers need to review terrorism liability limits ahead of new Protect Duty
UK companies may need to purchase higher terrorism liability limits following the proposed Protect Duty legislation that is set to…
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Six Covid-19 BI rulings in US side with insurers
Four US Circuit Courts of Appeal continued insurers’ unbroken winning record in Covid-19-related business interruption cases in the US on…
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Ferma calls for EU cyber pool to help combat market inefficiency
Ferma has called on the EC to explore creating a European cyber pool and voiced concerns over the level of…
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UK backs EU insurance ban on Russian oil exports: reports
The UK is reported to have reached an agreement with the EU to ban insurance for ships carrying Russian oil.…
