Legal & Regulation
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Corporate round-up
Allianz launches €50m cyber solution with access to IT forensic experts, ACE gets licence to open reinsurance business in Tunisia,…
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Risk managers urged to join regulatory debate
Leading insurers and risk managers that spoke at the DVS Symposium 2013 yesterday voiced concern that the continued rise in…
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EC weighs in against alleged insurance cartel in Spain
The EC has backed a case against a group of insurance companies in Spain that are accused of price fixing…
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Patents show insurers are innovating: RPC
Over 400 international insurance-related patents were filed last year as insurers step-up innovation, according to UK law firm RPC.
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Enhanced regulation of nine named GSIIs receives cool reception
A number of insurance associations in the US and Europe have reacted negatively to plans to regulate nine 'globally systemically…
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SII, FACTA and Prips top EMEA insurers’ regulatory concerns
Preparing for Solvency II is the biggest regulatory concern for EMEA insurers, followed by compliance with the US' Foreign Account…
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Corporate round-up
Argo International appoints Mike Jackson as Head of Compliance, DAC Beachcroft appoints corporate insurance specialist, Beazley opens Miami office to…
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Flood Re welcomed but proposals under scrutiny
The UK's Environment, Food and Rural Affairs (Efra) Committee is concerned over how the UK's planned Flood Re insurance scheme…
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Insurance associations reject EIOPA’s SII recommendations
The prospect of further delays to Solvency II have increased after the insurance associations of France and Germany rejected the…
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Member states concede they are not prepared for SII
Many EEA member states are ill prepared to comply with EIOPA's proposed Solvency II interim implementation guidelines and would prefer…
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Experts welcome revised draft global accounting standards
The insurance industry has generally welcomed the publication of revised draft accounting standards for insurance contracts, a major step towards…
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EIOPA advice unlikely to heal old arguments with further SII delays expected
Experts have warned that recommendations published Friday by EIOPA on long-term guarantees are unlikely to resolve key issues stalling the…
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Balva collapse highlights dangers of unrated insurers for UK law firms
The UK's Law Society is urging law firms to break the cycle of opting for unrated insurers following the news…
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Insurance law an enterprise-wide concern say Ferma/Aida
Ferma and Aida, the International Association of Insurance Law, have urged risk managers and insurance lawyers to work more closely…
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UK placement changes on horizon with claims certainty in spotlight
Demand from UK corporate insurance buyers for more relevant and effective insurance products could soon result in fundamental changes to…
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Ferma urges EC to leave subscription market alone
Ferma has warned the European Commission that any restrictions to the subscription insurance market will work to the disadvantage of…
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Compliance database moves closer but leading insurers yet to commit
The Airmic-driven global insurance compliance database to help buyers get to grips with the difficulties of placing international insurance coverages…
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Co-insurance arrangements hampered by legal uncertainty say experts
Insurance buyers must pay close attention to contract details when transferring risks via co-insurance arrangements due to the uncertainties created…
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Aggregation doubts compound risk of class actions
European companies face increased risk from class actions due to an absence of rules governing the aggregation of claims, legal…
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EIOPA’s chairman calls for extension of supervisory powers
The European Insurance and Occupational Pensions Authority's (EIOPA) chairman has called for an extension of the supervisory body's powers.