Legal & Regulation
-
February 1, 2022
Reinsurance for Covid-19 BI losses to boost FBD’s 2021 profit after court clarifies pub closures
Irish insurer FBD Holdings said it expects 2021 profits to be “significantly” ahead of target after reinsurers agreed to cover…
-
January 31, 2022
House of Lords opens review of insurance market regulation including proportionality
The UK House of Lords Industry and Regulators Committee will tomorrow hear from insurance law experts on key matters of regulation…
-
January 27, 2022
Risk managers must act now on German Supply Chain Act to avoid litigation
Risk and supply chain managers that work for companies based in or operating in Germany need to start work on…
-
January 26, 2022
GFIA sets out key principles on use of suptech
The Global Federation of Insurance Associations (GFIA) has responded to the increasing use of innovative technology by supervisory agencies to…
-
January 26, 2022
Big UK Covid-19 BI payouts on the cards as claims head to court, say lawyers
A new wave of UK Covid-19-related business interruption (BI) claims could see big payouts for corporate policyholders and a hefty…
-
January 25, 2022
UK’s House of Lords begins inquiry into regulation of commercial insurance
The UK’s House of Lords has begun its inquiry into the regulation of the commercial insurance and reinsurance market. The…
-
January 21, 2022
Merck ruling demands sharper focus on cyber risk management as cover tightens
The recent ruling by the New Jersey Superior court that insurers need to pay pharma giant Merck $1.4bn for losses…
-
January 21, 2022
QBE files poaching suit against Applied Underwriters
QBE Insurance Group units filed suit against Applied Underwriters earlier this week in connection with Applied’s hiring of 13 people…
-
January 20, 2022
Trump Organization accused of misleading Zurich over surety bonds
New York authorities have outlined alleged misrepresentations by the Trump Organization in its purchase of surety bonds from Zurich Insurance,…
-
January 20, 2022
Expect further tightening in cyber cover after $1.4bn Merck award
The recent ruling by the New Jersey Superior Court that Chubb and other insurers need to pay pharmaceutical giant Merck…
-
January 19, 2022
UK bars four EU financial services firms under post-Brexit regime
Four European financial services firms have been barred from conducting business in the UK, after its regulator said they failed…
-
January 19, 2022
European insurers tell EC proposed Solvency II changes would add avoidable costs
The European insurance trade association has told the EC that its proposed changes to Solvency II include elements that would…
-
January 18, 2022
UK to review London market regulations after push for more proportionate rules
A new UK parliamentary investigation into London insurance market regulation is an “opportunity” for more proportionate rules to secure the…
-
January 17, 2022
DAC Beachcroft highlights ESG, class actions and social inflation as big issues for 2022
Environmental, social and governance (ESG), class actions and social inflation all feature prominently in the latest insurance predictions from DAC…
-
January 14, 2022
Insurer wins two more Covid-19 BI rulings in US
Two US federal appeals courts have again ruled that policyholders are not entitled to Covid-19-related business interruption (BI) coverage. As…
-
January 13, 2022
Ferma pushes for further progress on captives in Solvency II review
Ferma has welcomed proposed changes to Solvency II that would strengthen the concept of proportionality, and in particular the creation…
-
January 13, 2022
Insurer challenges in 2022 include civil unrest and class actions, says RPC
The latest Annual Insurance Review from law firm RPC highlights a number of issues set to impact insurers in 2022,…
-
January 11, 2022
Insurers call for no major changes to EU product liability rules
European insurers have warned that major changes to EU product liability rules could undermine insurers’ ability to cover certain risks.…
-
January 10, 2022
Insured loses another Covid-19 BI ruling in US
The 5th US Circuit Court of Appeals in New Orleans issued its second ruling of the week on Thursday in…
-
January 4, 2022
Insured loses another Covid BI ruling in US appeals court
The 2nd US Circuit Court of Appeals in New York has become the latest federal appeals court to hold that…