Legal & Regulation
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EIOPA rejects calls for special treatment for captives under Solvency II
The European Insurance and Occupational Pensions Authority (EIOPA) has flatly rejected calls for special treatment for captives under Solvency II…
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EU prohibits its risk transfer sector from covering Iranian petroleum and oil
The European Union has chosen to prohibit its risk transfer sector from providing cover for the purchase, importation and transportation…
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EU report calls for kick-start to cyber insurance market
ENISA suggests government-backed cyber pools may be needed and stresses need for mandatory breach reporting. Danger of market focusing on…
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Pressure builds on insurers over fair disclosure rules
In a consultation process that was launched earlier this week the English Law Commission and Scottish Law Commission proposed a…
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Moody’s downgrade four Argentine insurers due to new regs and sovereign credit exposure
Moody’s has downgraded four Argentine insurers citing the country’s new insurance regulations and sovereign-related credit exposure.
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Munich Re rolls out big-ticket reputation coverage
A groundbreaking insurance product that covers big companies against the financial loss caused by a hit to their reputation is…
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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…
