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HIGH COURT RULES THAT BROKER WAS NOT IN BREACH OF DUTY IN FAILING TO PROVIDE ORAL ADVICE IN RELATION TO THE DUTY TO DISCLOSE
In holding that a broker was not in breach of duty by failing to give oral advice in relation to the disclosure of criminal convictions the Court has …
Near-final rules for extension of SMCR to insurers and brokers published
Near-final rules for the extension of the Senior Managers & Certification Regime (SMCR) to all financial services firms, including insurers and …
EIOPA issues second warning about the impact of Brexit on insurance contracts
EIOPA has published an opinion and FAQs emphasising the need for insurers and insurance intermediaries to explain to policyholders how Brexit will affect …
AML/CFT COMPLIANCE A KEY FOCUS OF RECENT SUPERVISORY INSPECTIONS BY THE HONG KONG INSURANCE AUTHORITY
Late last week, the Hong Kong Insurance Authority (IA) published a circular setting out its key findings from anti-money laundering and counter-financing …
Court of Appeal upholds payment of costs by non-party insurer
In Travelers Insurance Company Ltd v XYZ [2018] EWCA Civ 1099, the Court of Appeal upheld an order for costs against an unsuccessful Defendant’s insurer, …
BREXIT UPDATE - EEA (RE)INSURERS
EEA insurers and reinsurers doing business in the UK under the insurance passport must prepare for the UK's withdrawal from the EU. We consider, in our …
PRA AND FCA CLARIFY IMPACT OF BREXIT TRANSITION FOR INSURANCE SECTOR
Recent announcements made by the PRA and FCA clarify their approach to Brexit following the European Council's agreement to a transition period for the …
CAN A LAWYER BE AN ARBITRATOR WHERE THE REQUIREMENT IS FOR "EXPERIENCE OF INSURANCE OR REINSURANCE"?
In Allianz Insurance and Sirius International Insurance Corporation v Tonicstar Limited [2018] EWCA Civ 434, the Court of Appeal has reversed the …
INSURANCE AND REINSURANCE DISPUTES ANNUAL REVIEW 2017 PUBLISHED
We are pleased to share with you our Insurance and Reinsurance Disputes Annual Review of 2017, published today, which provides an overview and analysis …
Brexit - PRA consults on approach to UK branches of incoming insurers
On 20 December 2017, the Treasury, PRA and FCA clarified their approach to EEA-headquartered financial services firms wishing to carry on business …
'Can of worms' notifications of circumstances: the significance of knowing which worms are in the can
In Euro Pools Plc (in administration) v Royal & Sun Alliance Insurance Plc [2018] EWHC 46 (Comm), the High Court provided a timely reminder of the …
Further PRA reform of Solvency II implementation – internal models and reporting
This article was first published on Thomson Reuters Regulatory Intelligence on 17th January 2018. On 12 December 2017, the PRA published the second in a …
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