Legal & Regulation
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March 9, 2023
Indian finance ministry finalises insurance reform bill that will allow captives
Proposed amendments to the Insurance Act and Insurance Regulatory & Development Authority Act in India could be passed shortly. The…
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March 9, 2023
US class action spending up for eighth consecutive year to $3.5bn
Class action spending in the US has increased for eight consecutive years, and it is expected to be one of…
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March 8, 2023
European insurers stress risk-based approach to sustainability drive
European insurers strongly support the drive towards sustainability, according to Insurance Europe’s response to a discussion paper by the European…
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March 7, 2023
Call for clear objectives for insurer cyber stress testing
Insurance Europe says that any stress test exercise for insurers should have clear objectives, appropriate timescales and be proportionate to…
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March 3, 2023
US mall owner wins Covid BI case but insureds lose again elsewhere
A federal district court has refused to dismiss Covid-19-related business interruption (BI) coverage litigation filed by a shopping mall owner…
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February 28, 2023
Sanctions-related insurance disputes to rise as EC adds latest package
As the EC announces its tenth package of sanctions against Russia, law firm Clyde & Co expects rising sanctions-related insurance…
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February 20, 2023
AM Best places CCR Re ratings under review pending sale
AM Best has placed the ratings of CCR Re, the open market subsidiary of France’s state-owned reinsurer CCR, under review…
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February 14, 2023
S&P set to upgrade CCR Re if sale to French mutuals completes
S&P Global said there is a “high probability” it will raise the credit and financial strength ratings of CCR Re…
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February 14, 2023
Maersk files lawsuit against Evergreen over Ever Given’s Suez Canal delays
Shipping company Maersk is suing ship operator Evergreen and others for delays to shipments caused by the Suez Canal blockage…
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February 13, 2023
AM Best places Argo’s ratings under review
AM Best has placed Argo Group’s ratings under review after the specialty insurer announced a $1.1bn sale to Brookfield Reinsurance.…
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February 8, 2023
Brexit had minimal impact on capacity crunch: GDV
German risk managers have not suffered from a loss of capacity caused by an exodus of UK-based insurers because of…
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February 7, 2023
Marsh reported to US government over role in controversial East Africa pipeline
Human rights and environmental groups have filed a complaint to the US government alleging that Marsh has violated OECD guidelines…
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February 7, 2023
Insurance Europe urges focus on equalisation reserves in EC tax reform
Insurance Europe wants the EC to recognise equalisation provisions for tax purposes as it prepares to introduce BEFIT, a new…
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February 6, 2023
Moody’s downgrades SCOR after CEO replaced
Moody’s has downgraded the Insurance Financial Strength Rating (IFSR) of SCOR and its key operating entities to A1 from Aa3.…
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February 2, 2023
Konsta joins DAC Beachcroft from Clyde & Co
Simon Konsta has joined DAC Beachcroft from rival law firm Clyde & Co as partner and international and business development…
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February 1, 2023
Ferma worried about insurance gaps caused by Cyber Resilience Act
Ferma has told the EC it welcomes the Cyber Resilience Act (CRA) that was proposed in September and will impose…
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February 1, 2023
AIG terminates CFO contract for violating confidentially rules
AIG has terminated the contract of its interim chief financial officer (CFO) and executive vice president, global chief actuary and…
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January 30, 2023
Argentina urged to remove regulatory obstacles to reinsurance premium payment
The Global Federation of Insurance Associations (GFIA) has called on the Argentinian insurance supervisor (SSN) to remove regulatory obstacles to…
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January 27, 2023
Vietnam launches new insurance market development strategy
The Vietnamese government has formulated the Strategy for the Development of Vietnam's Insurance Market to 2030, with the goal of…
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January 25, 2023
BIBA calls on FCA to lower record-high regulatory costs on UK brokers
UK broking association BIBA has called on the country’s financial regulator to lower the sector’s regulatory burden as it revealed…