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EIOPA opinion on supervisory convergence in light of the UK withdrawing from the EU
The European Insurance and Occupational Pensions Authority (EIOPA) has published an opinion on supervisory convergence in light of the UK withdrawing …
New Insurance Authority in Hong Kong begins regulation of insurers with enhanced powers
With effect from 26 June 2017, Hong Kong's independent Insurance Authority ("IA") assumed its regulatory responsibilities and replaced the …
PRA consults on amendments to the Senior Insurance Managers Regime (SIMR)
The PRA has published a consultation paper (CP8/17), which includes proposed amendments and optimisations to the Senior Insurance Managers Regime …
High Court refuses to order pre-action disclosure of a defendant's public liability insurance policy
In Peel Port Shareholder Finance Co Ltd v Dornoch Ltd [2017] EWHC 876 (TCC), Peel Port Shareholder Finance Co Ltd (Peel Port) applied for pre-action …
No Inducement: Court of Appeal upholds first instance decision
The Court of Appeal has upheld the decision of the Commercial Court that a reinsurer failed to establish that material non-disclosure of past loss …
EIOPA to publish guidance on sound principles for authorisation and supervision post-Brexit
EIOPA has published an interview given by Gabriel Bernardino, EIOPA Chair, which contains comments on the implications of Brexit for the insurance …
PRA - strengthening individual accountability in banking and insurance (PS12/17)
On 12 May 2017, the PRA published PS12/17 "Strengthening individual accountability in banking and insurance: amendments and optimisations (and associated …
New right to claim damages for late payment of insurance claims comes into force this week
New provisions in the Enterprise Act 2016 ("the Act") which give policyholders a potential right to claim damages in the event of late payment of …
FCA publishes its Business Plan for 2017/2018, Mission and Sector Views
The FCA has published its Business Plan for 2017/2018, setting out details of the specific areas of work the FCA is prioritising for the next year, as …
Wholesale Insurance Market Review
In its 2017/18 Business Plan, released on 19 April 2017, the FCA set out its intention to undertake a market study of the wholesale insurance market. …
Legislating for the UK's withdrawal from the EU - the Government's White Paper on the Great Repeal Bill
On 30 March 2017 the UK Government published its White Paper on the Great Repeal Bill: Legislating for the United Kingdom's withdrawal from the European …
Exiting the EU - the die is cast
On Wednesday 29 March 2017, the UK Prime Minister, Theresa May, gave notice under Article 50 of the Treaty on European Union (TEU)("Article 50") of the …
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