Legal & Regulation
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UK business exposed to insurance gaps and claims disputes to rise-Mactavish
UK companies are exposing themselves to significant and unnecessary losses because of serious flaws in the way their corporate insurance…
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FERMA wants its joint BIPAR protocol principles to be in new IMD
FERMA wants the principles of the non-binding protocol it agreed to with the European Federation of Insurance Intermediaries (BIPAR) late…
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Spanish penal code leaves risk managers bare
Spanish companies can now be condemned for crimes committed by their employees, after the introduction of the country's new penal…
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Insurers warn ELD stakeholders to up game or face mandatory schemes
Leading specialist environmental insurers have called on all stakeholders involved with and affected by the Environmental Liability Directive (ELD) to…
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Guernsey hopes for captive boost through Solvency II opt out
Guernsey believes that its decision not to seek equivalence to Solvency II could help spark a migration of captives from…
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JLT welcomes delay on UK Bribery Act and extra time to prepare
Broker JLT Specialty’s Directors and Officers liability team last week welcomed the delay to the implementation of the UK Bribery…
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Solvency II will help clear out fringe capacity claim insurers
Solvency II will put low-cost insurers under the spotlight and make it harder for risk managers to justify the use…
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Lord Levene warns against over regulation
The chairman of Lloyds’ of London, Lord Levene, has joined the chorus of insurance leaders who have warned against the…
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Guernsey says it has no plans to seek equivalence under Solvency II
Authorities in Guernsey have announced that they have no plans to seek equivalence under Solvency II.
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UK government to review Bribery Act as business fears mount
Most UK risk managers will be relieved to hear that the UK government has confirmed that it has ordered a…
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EC paves way for International audit cooperation as it adopts equivalence
The European Commission has laid the foundation for reinforced international cooperation on the supervision of auditors as it yesterday adopted…
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Geneva Association to tackle ‘key issues’ of regulation and financial stability
The Geneva Association’s Secretary General has highlighted regulation and financial stability as two key short-term issues facing the insurance industry…
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Expert claims captive costs could rise almost four times following Solvency II
A leading European captive manager has calculated that the average cost of capital for its captives under management will rise…
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DIMA says Irish captives should escape sovereign fall out
DIMA, the representative body for the international re/insurance industry in Ireland, has welcomed confirmation from credit rating agency Standard &…
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FERMA applies to join EIOPA’s advisory group
FERMA this week confirmed to Commercial Risk Europe that it will apply to be a member of the 30-strong formal…
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UK bribery act will create unfair playing field warns IRM panel
Experts gathered at the Institute of Risk Management's Risk Leaders' Conference warned that the UK's new Bribery Act will cause…
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CEIOPS tells EC to exclude big risks as FERMA nears conclusion of transparency deal
The large commercial insurance and reinsurance markets will be excluded from the European Commission’s updated Insurance Mediation Directive (IMD2) if…
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IGREA welcomes Solvency II but warns against overburden on insurers
Large Spanish insurance buyers have expressed their support of the Solvency II directive, but have also warned legislators to avoid…
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Captives safe under Solvency II but lobbying of EC must continue
Captive owners can rest assured that Solvency II will not drive them out of business through excess capital and reporting…
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Risk managers must prepare for Pillar 2
Experts at FERMA’s London seminar agreed that Pillar 2 of Solvency II will mean that risk managers will have to…