Cayman signs memorandum of understanding with NAIC

Cayman signs memorandum of understanding with NAIC

Cayman signs memorandum of understanding with NAIC

The Cayman Islands Monetary Authority (CIMA) has signed a memorandum of understanding with the US National Association of Insurance Commissioners (NAIC). CIMA said the memorandum of understanding is designed to help insurance supervisors in the US and the Cayman Islands coordinate on regulatory issues with the goal of efficient, fair, safe and stable insurance markets. It added that the agreement…

New Chinese body cracks down on market confusion acts, trade secrets and web misconduct

New Chinese body cracks down on market confusion acts, trade secrets and web misconduct

New Chinese body cracks down on market confusion acts, trade secrets and web misconduct

The Chinese government has continued its crackdown on market confusion acts, trade secret infringement and internet-related misconduct, and is focusing its efforts particularly on the online and pharmaceutical industries. Experts advise risk managers with companies that procure products from China to make doubly sure that they are asking the right questions of suppliers to ensure that they are compliant. The latest…

Environmental fines up six times over five years in UK but prosecutions fall: Clyde & Co

Environmental fines up six times over five years in UK but prosecutions fall: Clyde & Co

Environmental fines up six times over five years in UK but prosecutions fall: Clyde & Co

Average fines against companies for breaches of UK environmental laws are six times higher than five years ago but the number of prosecutions has fallen substantially, according to new research from law firm Clyde & Co. Prosecutions brought by the UK’s Environment Agency (EA) have seen the average fine for companies increase from £23,731 in 2013/2014 to £147,575 in 2017/2018,…

Insurers lobby for European-wide drone legislation to better deliver for clients

Insurers lobby for European-wide drone legislation to better deliver for clients

Insurers lobby for European-wide drone legislation to better deliver for clients

The EU should close gaps between member states’ drone regulations that currently restrict insurers’ ability to deliver risk-transfer solutions, said the industry’s federation Insurance Europe. In response to the EC’s consultation on technical standards for drones, Insurance Europe calls for a common framework to license, certificate, authorise and classify drone use at EU level. The European federation said insurers’ interest…

UK insurance industry gender pay gap double national average, shows CII data

UK insurance industry gender pay gap double national average, shows CII data

UK insurance industry gender pay gap double national average, shows CII data

The UK insurance industry has a gender pay gap of 24%, which is double the average across all sectors, according to analysis of almost 200 insurers, intermediaries and service providers by the Chartered Insurance Institute (CII). UK companies with more than 250 employees were required to publish gender pay gap data in April this year. The national average median gender…

Russian cyber threats on energy, marine and aviation sectors

Russian cyber threats on energy, marine and aviation sectors

Russian cyber threats on energy, marine and aviation sectors

On 15 March 2018, the US Department of Homeland Security (DHS) and the Federal Bureau of Investigation (FBI) released a joint technical alert on Russian government cyber activity targeting organisations in the energy, marine, aviation and other manufacturing sectors. This DHS and FBI technical alert seeks to educate network defenders and enhance their ability to identify and reduce exposure to…

1 2 3 55