Legal & Regulation
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Fiscal and regulatory pressure builds on captive owners
Captive owners in the U.K. face a probable effort by the new government to raise insurance premium tax according to…
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Bermuda market intensifies campaign for equivalence
European insurance and reinsurance buyers should support an effort by the Bermuda market to gain equivalent status under Solvency II…
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Standard terms given green light from the European Commission
E.C. guidelines on horizontal competition will allow standard policy conditions so long as they are transparent, open and non-binding.
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Run off from Solvency II?
Insurance buyers in Europe are worried that Solvency II will drive capacity out of their core industrial insurance lines. Derek…
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Reform of U.K. insurance contract law ‘some way off’, says Hertzell
The U.K.’s Law Commissioner for Commercial and Common Law, David Hertzell, believes that aspects of the current law that governs…
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FERMA gives mixed reception to partial block exemption regulation
The Federation of European Risk Management Associations (FERMA) has welcomed the adoption of the new European Union insurance block exemption…
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Commission and Parliament give assurance to buyers on Solvency II
Senior representatives of the European Parliament and Commission last week reassured insurance buyers that their concerns about Solvency II are…
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U.K. insurance buyers face disappointment over contract law reform
The U.K. Law Commission is unlikely to recommend the extension of the recent reform of insurance contract law that significantly…
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Irish regulator promises fair and proportional approach for captives
Matthew Elderfield, Head of Financial Regulation at the Irish Financial Regulator, (FR) has promised captive owners that they will receive…
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Buyers and insurers unite against ‘extreme conservatism’ of CEIOPS Solvency II plans
[LONDON]—Pressure is fast building on the European Commission from insurance company and buyer representative groups to water down the advice…
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ECJ confirms onus on polluter to prove not liable in first ELD ruling
Italian petrochemical case clarifies polluters’ responsibility as EC mandatory insurance system unlikely for now.
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Solvency II will kill soft market and slam captives warn carriers
Swiss insurance buyers agree with colleagues around Europe that pricing conditions for their core lines will remain stable for the…
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AIRMIC warns Commission Solvency II ‘out of all proportion’
AIRMIC, the U.K. insurance and risk managers association, has added its weight to the growing opposition to Solvency II, Europe’s…
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Non-life rates could rise by up to 20% because of tougher Solvency rules says CEA
Pressure on the architects of Solvency II, Europe’s planned new capital adequacy regime for the insurance sector, to relax recently…
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Russian insurance buyers may benefit from tougher licensing rules
The Russian parliament has proposed tighter licensing and merger regulations for the country's insurance industry, according to news agency Reuters.
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Insurers and buyers fear rash E.C. decision on mandatory environmental coverage
A European Commission report on the efficiency of the Environmental Liability Directives (ELD) is due next month and could recommend…
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A Full Plate – Guy Soussan
Guy Soussan, Partner with Brussels law firm Steptoe & Johnson LLP, is legal adviser to FERMA and has plenty of…
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Buyers, insurers and brokers still grappling with ELD’s complexities
The Environmental Liability Directive (ELD) finally reached implementation in all 27 E.U. member states at the end of 2009, two…
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Brussels opens ‘discussion’ on broker pay with CEIOPS
The pressure on European risk managers and their brokers to find an industry agreement on broker pay to remove potential…
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Captive groups seek talks with ministers and EC on Solvency II
[BRUSSELS]—Leading representatives of Europe’s captive community hope to sit down with national finance ministers of the European Union Member States…