Legal & Regulation
-
E.C. opens formal investigation into P&I market
The European Commission has opened formal proceedings into whether certain provisions that accompany claim-sharing and joint-reinsurance agreements in the marine…
-
Barnier and market bodies final plea to take part in QIS5
European Commission Internal Market and Services Commissioner, Michel Barnier, has strongly advised the European insurance industry to roll its collective…
-
Deepwater fund launched amidst controversy
A $20 billion compensation fund for economic victims of the Deepwater Horizon oil spill was launched on Monday but immediately…
-
Court ruling re-fuels contingents debate
U.S. and European insurance buyers will be pleased to hear that a U.S. federal appeals court has decided to restore…
-
Captive owners ‘optimistic’ about latest Solvency II developments
It seems increasingly likely that Solvency II will not hit captives as hard as originally feared based on the latest…
-
CEA questions EC proposals on insurance guarantee schemes
The European Commission this week announced a package of measures to enhance protection of insurance policyholders and beneficiaries but the…
-
Supervisors still far from ready for Solvency II–CEIOPS
Work underway within national insurance supervisors to prepare for Solvency II, Europe’s planned new capital adequacy regime, is very much…
-
Battle lines drawn for Solvency II as QIS5 published
CEIOPS has issued the technical specifications for QIS5, its final field test for Solvency II if all goes to plan,…
-
CEA tells G-20 not to confuse insurers with banks
The Comité Européen Des Assurances has stepped up its ongoing campaign to pressure political leaders to understand the difference between…
-
EU corporate governance reform announced
The European Commission said last week that it is considering an overhaul of corporate governance rules for financial institutions, according…
-
Spanish market broke too early on ELD deadline
Over the past three years, Spanish companies have been busy preparing to meet the tough requirements of a new environmental…
-
First Environmental Liability Directive cases from European Court of Justice
On 9 March, in its first rulings on the Environmental Liability Directive (ELD), the European Court of Justice (ECJ) concluded…
-
Ready and willing
Malta has been hit by the international financial and economic crisis just as any other country has. But, Joe Bannister,…
-
Spanish risk and insurance managers warned about rising red tape
Solvency II represents only the ‘tip of the iceberg’ in terms of challenges that insurers and their customers face in…
-
IRM welcomes sharper focus on risk in revised U.K. Code
The Institute of Risk Management (IRM) has welcomed the sharper focus on the ‘proper management of risk’ included in the…
-
As environmental liabilities grow regulators look set to get busy
As environmental regulations and liabilities continue to grow in the U.K., beefed up by the implementation of the Environmental Liability…
-
Industrial Emissions Directive needs to be more flexible says Cefic
The European Chemical Industry Council (Cefic) supports the objective of the draft Industrial Emissions Directive (IED) but it believes that…
-
Standard terms given green light from the European Commission
E.C. guidelines on horizontal competition will allow standard policy conditions so long as they are transparent, open and non-binding.
-
Run off from Solvency II?
Insurance buyers in Europe are worried that Solvency II will drive capacity out of their core industrial insurance lines. Derek…
-
Bermuda market intensifies campaign for equivalence
European insurance and reinsurance buyers should support an effort by the Bermuda market to gain equivalent status under Solvency II…