Legal & Regulation
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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…
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January 24, 2023
Swiss risk managers face up to new ESG reporting rules
Switzerland risk managers at firms regulated by the Swiss Financial Market Supervisory Authority (Finma) must get up to speed on…
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January 24, 2023
Lloyd’s updates cyber war clauses
The Lloyd’s Market Association (LMA) has released updated cyber war and cyber operation clauses. The updated clauses meet Lloyd’s market…
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January 24, 2023
UK’s PRA stress tests show insurance sector reliance for natcats and cyber
The UK’s Prudential Regulation Authority (PRA) has said UK general insurers are resilient to nat cat and cyber loss scenarios,…
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January 23, 2023
European business calls for ‘realism’ on due diligence proposal
A group of leading European business organisations including BusinessEurope, Ecoda and Insurance Europe have joined forces to tell the EU…
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January 20, 2023
Europe’s risk managers need to act as EU ramps up cyber resilience rules
Europe’s risk managers will need to become more involved in their organisations’ cyber security strategies as the EC steps up…
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January 17, 2023
Moody’s upgrades Zurich’s outlook as P&C recovery completed
Moody's has affirmed the Aa3 insurance financial strength rating (IFSR) of Zurich Insurance and changed its outlook from stable to…
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January 17, 2023
Clearer future for BI cover after pandemic turmoil despite ongoing claims, says GILC report
There is now more clarity for both businesses and insurers around what can be expected from a business interruption policy,…
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January 17, 2023
Europe’s insurers back more unified cyber reporting but warn against new rules
The European insurance sector supports the convergence of cyber reporting requirements and the re-use of existing standards to deliver more…
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January 16, 2023
European financial firms call for further changes to sustainability reporting standards
European financial firms have called for changes to the European Sustainability Reporting Standards (ESRS), which they will have to apply…
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January 16, 2023
Proportionality needed in CSRD to manage burden for smaller insurers and captives: GDV
The German Insurance Association (GDV) has called on the EC to ensure the principle of proportionality is properly applied to…
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January 16, 2023
Best puts Canopius’s ratings on negative outlook
AM Best has changed its outlook of Canopius US Insurance’s and Canopius Reinsurance’s A- financial strength from stable to negative,…
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January 12, 2023
Bank of England concerns will stiffen carriers resolve on pricing
The Bank of England this week told insurers under its supervision it expects them to factor in social inflation and…
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January 12, 2023
Clyde & Co to launch in Italy
Law firm Clyde & Co is expanding in Europe with the launch of an office in Italy after hiring Leonardo…
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January 11, 2023
IAIS publishes 2023 Roadmap with focus on insurance capital standard
The International Association of Insurance Supervisors (IAIS) will focus on finalising the development of global standards, in particular the insurance…
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January 4, 2023
Indian regulator tells carriers to stop using burning cost rates
The Indian insurance regulator, IRDAI, has reportedly written to property insurers and reinsurers asking them to stop including the burning…