Legal & Regulation
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FCA prepares for Supreme Court judgment with BI disease clause guidance
UK regulator the Financial Conduct Authority (FCA) has prepared draft guidance to prove the presence of Covid-19 for business interruption…
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NAIC adopts supervisory analytical tool and elects new officers
The US National Association of Insurance Commissioners (NAIC) has adopted an analytical tool to enable US solvency regulators to conduct…
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IAIS sets outs priorities for 2021 and beyond
The International Association of Insurance Supervisors’ (IAIS) executive committee has revealed its four overarching priorities for the coming years, together…
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AMRAE celebrates boost to captives in France as mandatory PPP scheme postponed
France’s risk management association AMRAE has welcomed plans by its government that should make it easier to set up captives…
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EC approves Spain’s €500m credit insurance scheme
The European Commission (EC) has approved Spain’s €500m state-backed reinsurance scheme to strengthen the trade credit insurance market. The EC…
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Transferring personal data between the EEA and the UK post-Brexit
The continued flow of customers’ and employees’ personal data is vital to many businesses, supply chains and public authorities to…
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Green and ESG credentials under microscope in 2021, says Clyde & Co
European companies face tougher regulatory scrutiny over their green policies next year as environmental, social and governance (ESG) credentials becomes…
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Attention turns to trade agreements for DIC/DIL as IAIS discussions stall
As discussions with the International Association of Insurance Supervisors (IAIS) struggle to gain traction, there is a real opportunity to get multinational…
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Plans for state-backed pandemic scheme delivered to Spanish regulator
Early discussions are underway in Spain to develop a mechanism that would help protect Spanish companies against future pandemics, an…
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Better supervision required rather than more regulation, says Eiopa
The executive director of the European Insurance and Occupational Pensions Authority (Eiopa) has called for better supervision and ‘soft regulation’…
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Lloyd’s passes final reg hurdle to transfer EEA policies to Brussels office
Lloyd’s has received final approval from the UK High Court to transfer its EEA polices to the market’s European company…
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IAIS calls for patience on global regs as risk associations urged to step in
Manuela Zweimueller, head of supervisory practices at the International Association of Insurance Supervisors (IAIS), has told multinational insurance buyers not…
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Fitch puts stable outlook on French market with Covid BI losses to recede
Fitch has assigned a stable outlook for the French non-life insurance sector in 2021, as it predicts business interruption (BI)…
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FCA BI test case appeal likely to see clear winner but result in balance, says leading lawyer
The Supreme Court’s appeal ruling in the UK’s business interruption (BI) test case is likely to be decisive but could…
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Santam to appeal after losing CBI court case in South Africa
Santam is to appeal against a court ruling that found South Africa’s largest non-life insurer liable to pay a client’s…
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Praedicat develops clash risk models for Covid-19 liability exposures
Emerging risk modeller Praedicat has developed scenarios that allow casualty insurers to track Covid-19 liability exposures, manage aggregations and set…
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IAG raises new equity as Australia’s BI test case finds in favour of policyholders
Australian insurer IAG said it will raise $750m in new equity after the Supreme Court of New South Wales (NSW)…
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UK’s Supreme Court takes recess to mull BI Covid-19 appeals
The UK’s Supreme Court will adjourn today and consider appeal arguments lodged by UK regulator the Financial Conduct Authority (FCA)…
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Call for EU rules to help competitiveness of European insurers
Insurance Europe has called for EU rules and trade policy to help, not hinder, European firms’ global competitiveness. In its…
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Dutch law firm joins Global Insurance Law Connect network
The Dutch law firm WIJ advocaten BV has become the latest member of the Global Insurance Law Connect (GILC) legal…