Legal & Regulation
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Big capital increase for cat exposures at UK insurers under RMS 11 and SII
UK mono-line property insurers may have to deal with up to 97% increases in capital requirements for catastrophe exposures because…
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Nordic insurers need to adjust investment portfolios as a result of SII–Fitch
Nordic insurers will need to make bigger adjustments to their investment portfolios than their European peers as a result of…
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Global compliance database push boosted by backing of leading brokers and RIMS
The project to create a global compliance database has been given a major boost with the announcement of the support…
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EU data protection law will need risk and insurance responses
A key part of current cyber insurance policies has been the provision of coverage for the costs incurred by a…
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German regulators get tough on cyber data breaches but risk transfer options are limited
German companies that have lost clients’ data due to cyber attacks or an internal error would be well advised to…
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Barnier outlines Solvency II timetable, plans for rules on broker pay and green paper on catastrophes
Michel Barnier, EC Commissioner for Internal Market and Services, told delegates at last week’s Insurance Europe (formerly CEA) conference that…
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Non-life premiums up 3% in 2011 but concerns remain over SII—Insurance Europe
European non-life insurance premiums rose by 3% in 2011 at constant exchange rates to €439bn from €426bn the previous year,…
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IAIS outlines rules to identify global systemically important insurers
The International Association of Insurance Supervisors (IAIS) has released its proposed assessment methodology for the identification of global systemically important…
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Solvency II will not drive up prices but hard market is on doorstep say experts
Solvency II will not lead to a hike in prices for buyers of commercial insurance but the current soft market…
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Insurers planning to re-price products due to SII rises to over a third-survey
Over one third of UK commercial insurers plan to re-price their products in the run-up to Solvency II, according to…
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Concerns over Irish insurers’ readiness for Solvency II
The Central Bank of Ireland’s Director of Insurance Supervision, Fiona Muldoon, is concerned at the apparent level of readiness of…
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ECIROA calls for changes to implementing measures to avoid exclusion of up to 90% of captives
The European Captive Insurance and Reinsurance Owners’ Association (ECIROA) believes that up to 90% of European captives will not be…
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Growing fear amongst insurers that they will not be ready for Solvency II
There is a growing fear amongst insurers that they will miss the January 2014 deadline for Solvency II, according to…
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Spanish supervisor demands more info on insurer solvency levels
Spain's insurance supervisor is requesting detailed information from the country's insurers in order to gain a clearer idea about their…
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Guernsey made right decision to avoid ‘disproportionate demands’ of SII—Aon
Guernsey’s decision not to apply for equivalence under Solvency II is having a positive impact on its status as the…
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French Mediator drug scandal reaches court with insurers keeping close watch
A high profile liability trial involving French pharmaceutical company Servier began this week in Paris closely watched by the general…
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Insurers expect further delay to Solvency II start date
According to a survey by Barnett Waddingham, the actuary and consultancy firm, over three quarters of insurance companies believe that…
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Vast potential in Brazil continues to draw foreign insurers despite ‘ferocious’ regulator’s reputation
To understand why reinsurance and insurance companies have set their sights on Brazil despite the country’s fiendish regulations, one just…
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Asbestos point of exposure ruling provides welcomed clarity say observers
The UK’s Supreme Court's decision yesterday to rule that mesothelioma claims are triggered at the date of exposure to asbestos…
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Solvency II closer with Omnibus II approval, but concerns remain
Solvency II moved a step closer yesterday as the Omnibus II Directive was approved by the European Parliament’s Economic and…