The Italian annual market and competition law - recently published in the Italian official Gazette - provides, among other things, for an amendment in relation to the rules on direct compensation system for motor liability...more
UK-EU MoU on regulatory cooperation in financial services - HM Treasury has announced that technical discussions on the text of the memorandum of understanding (MoU) on UK-EU regulatory cooperation in financial services have...more
On 23 March, IVASS, in the run-up to the entry into force of its Regulation No. 45/2020 on insurance products oversight and governance requirements (“POG”) and Measure No. 97/2020 mainly providing amendments to the current...more
In the few short weeks since our last report on climate change and the US insurance industry, the volume of climate change news has been extraordinarily high. The range of developments has been broad to say the very...more
COVID-19: FCA update on BI insurance test case - The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption (BI) insurance test case....more
At the beginning of the year, we published a short report on the surge in year-end insurance regulatory activity concerning climate change risks (available here). January was another busy month, and we report below on...more
Solvency II: PRA letter to life insurers on application of effective value test -The UK Prudential Regulation Authority (PRA) has sent a letter to the Chief Actuaries of life insurers on feedback on the application of the...more
On 31 December 2020, Law Decree No. 183 of 31 December 2020 introducing, among others, specific provisions addressed to UK insurance undertakings in relation to their business and obligations following the end of the...more
IVASS published a public consultation in order to amend its Regulation no. 14 of 18 February 2008 ruling - among others - the authorization procedure applicable to insurance portfolio transfers....more
Insurance Europe supports the efforts of the European co-legislators towards a more sustainable economy and is in favour of increased transparency in sustainable investments and sustainability risks, provided that the...more
Following three public consultations launched on 23 September 2019, IVASS and CONSOB completed the implementation in Italy of (EU) Directive 2016/97 on insurance distribution ("IDD"), by publishing IVASS Measure No. 97/2020,...more
COVID-19: FCA updates on business interruption insurance test case - The UK Financial Conduct Authority (FCA) has published a number of updates to its webpage on the High Court test case concerning business interruption...more
COVID-19: FCA update on business interruption insurance test case - On 13 and 15 July 2020, the UK Financial Conduct Authority (FCA) updated its webpage on the High Court test case concerning business interruption...more
On 17 March 2020, IVASS and the Bank of Italy issued a joint communication regarding the cross-selling of insurance products and financing (the "Communication") to be delivered to the members of the management and supervisory...more
On 2 April 2020, the European Insurance and Occupational Pensions Authority (EIOPA) urged all (re)insurers to temporarily suspend dividend distributions and share buybacks. The response from insurance regulators in EU...more
The European Insurance and Occupational Pensions Authority (EIOPA) has on 20 March 2020 published recommendations on supervisory flexibility regarding the deadline of supervisory and public disclosure by insurers, in light of...more
Dormant assets scheme: HM Treasury and DCMS consult on expansion - HM Treasury and the Department for Digital, Culture, Media and Sport (DCMS) jointly published on 21 February 2020, a consultation paper on expanding the...more
The Spanish Insurance and Reinsurance Distribution Act implementing the Directive 2016/97 of the European Parliament and of the Council of 20 January 2016 on Insurance Distribution (the ”IDD”) has been finally approved and...more
The Hogan Lovells’ Corporate Insurance Newsletter for January 2020 has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. In this...more
The Hogan Lovells’ Corporate Insurance Newsletter for November has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. ...more
The Hogan Lovells’ Corporate Insurance Newsletter for September has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. ...more
The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e - newsletter, which offers a legal and regulatory update covering France and Europe for April 2018. ...more
The Hogan Lovells’ Corporate Insurance Newsletter for July and August has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. ...more
The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e - newsletter, which offers a legal and regulatory update covering France and Europe for March 2019. ...more
On 27 March 2019, the European Insurance and Occupational Pensions Authority (EIOPA) published a report that looks at outsourcing to the cloud by (re)insurers. ...more