Legal & Regulation
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April 13, 2023
Consultation opens on EU sustainable finance disclosure
The three European Supervisory Authorities (ESAs) – ENA, EIOPA and ESMA – have published a consultation paper on amendments to…
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April 12, 2023
European firms must prepare for 27 versions of Green Claims Directive
London-based international law firm Simmons & Simmons has warned Europe’s risk and compliance managers not to assume that the coming…
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April 12, 2023
Insurance Europe calls for funding and ambitious timeline on ESG data hub
Europe’s insurers have called for appropriate governance, funding, prioritisation and scope for the European Single Access Point (ESAP), the proposed…
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April 6, 2023
IFRS 17 gives risk managers sharper tool to analyse insurer performance
Risk and insurance managers need to keep a close eye on the financial performance and health of their leading carriers…
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April 4, 2023
French insurers post higher profits despite inflationary pressure
French insurers’ operating profits increased by close to 3% in 2022, despite broadly flat premium income, estimates Fitch Ratings in…
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April 3, 2023
Pressure builds on German state to introduce compulsory nat cat cover
The German government is under pressure from a rising number of federal states and now, reportedly, the Federal Council (Bundesrat)…
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March 29, 2023
Chile’s $350m cat bond is first listed in Hong Kong
The World Bank has listed a $350m catastrophe bond on Hong Kong Exchanges and Clearing (HKEX) that provides the government…
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March 29, 2023
Court rules against insurers in Boy Scouts sexual abuse case
A federal district court in Delaware ruled against dozens of insurers that objected to a $2.46bn trust for sexual abuse…
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March 28, 2023
Governor DeSantis signs Florida’s tort reform bill
Florida’s governor Ron DeSantis has a bill designed to “decrease frivolous lawsuits and prevent predatory practices of trial attorneys who…
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March 27, 2023
London market’s stable outlook driven by ongoing hard market: AM Best
Strong rates across key classes of business for London market insurers are expected to continue in 2023 and drive further…
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March 24, 2023
New acting CEO appointed by NAIC after resignation
The National Association of Insurance Commissioners (NAIC) Executive Committee has appointed Andrew J. Beal as acting chief executive officer. Beal…
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March 24, 2023
Mosaic Insurance launches litigation liability coverage
An ‘after the event’ (ATE) insurance litigation liability coverage has been launched by global specialty insurer Mosaic Insurance. The cover…
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March 22, 2023
Directors likely to face ‘swathe of litigation’ over ESG risks
Increasing ESG risks are likely to result in a spike of claims against directors and drive further increases in insurance…
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March 22, 2023
European insurers expected to have low exposure to Credit Suisse bonds: DBRS Morningstar
Rating agency DBRS Morningstar said it will monitor the investment portfolios of European insurance companies following the sale of Credit…
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March 20, 2023
SVB collapse sends ripples through the cryptosphere, warns Clyde & Co
Even as this article is being drafted, matters are quickly developing following the collapse of Silicon Valley Bank (SVB) on…
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March 20, 2023
Commercial property carriers suffer most US credit rating downgrades from AM Best
Commercial property insurers accounted for more than half of AM Best’s credit rating downgrades at US commercial carriers last year.…
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March 17, 2023
IAIS consults on changes to ICPs around climate-related risks
The International Association of Insurance Supervisors (IAIS) has published a consultation on climate risk with proposed changes to the Insurance Core Principles…
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March 15, 2023
Enhanced disclosure on climate-related data for structured finance products
As investment in financial products meeting high ESG standards is increasingly important in the EU, it has become a priority…
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March 14, 2023
BoE wants to see better climate change risk management before deciding on capital changes
The Bank of England (BoE) is unsure whether insurers and banks are sufficiently capitalised for future climate change losses but…
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March 14, 2023
DB pension scheme trustees must look closely at insurers’ TCFD reports
Pensions consultant Hymans Robertson has urged DB pension scheme trustees to look closely at insurers’ Taskforce on Climate-Related Financial Disclosures…