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Insurance Regulations Reinsurance

Troutman Pepper

D&O and Professional Liability 2023: A Year in Review

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The past year once again saw a breadth of court decisions addressing a wide variety of directors and officers and professional liability insurance coverage issues. At various levels, state and federal courts across the...more

Carlton Fields

Munich Re Prevails in Alabama Reinsurance Dispute

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A federal court recently agreed with Munich Re that it was not obligated to reimburse an insurer for losses and fees the insurer incurred in litigation with its professional liability carrier regarding a bad faith claim...more

Cadwalader, Wickersham & Taft LLP

Statement from the UN Environment Programme on the Net-Zero Insurance Alliance Reports on Target Progress

On July 5, the UN Environment Programme (UNEP) released a statement on the Net-Zero Insurance Alliance’s (NZIA) progress towards net-zero targets. The NZIA is convened by the UN Principles for Sustainable Insurance (PSI) and...more

Hogan Lovells

IVASS consults on new ways of access and use of the Register of insurance intermediaries

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IVASS has recently launched a public consultation on a document providing amendments to its Regulation no. 40/2018 in order to enable the registration of insurance intermediaries on the web portal of the Register of insurance...more

Hogan Lovells

Italy: IVASS consults to amend certain provisions regarding insurance distribution

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IVASS has launched a public consultation in order to amend certain provisions of IVASS Regulation No. 40/2018 on insurance and reinsurance distribution, in particular regarding professional requirements of insurance...more

Stikeman Elliott LLP

Alberta Initiatives Supporting Local Reinsurance and Captive Insurance Fully In Force By July 1, 2022

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The Government of Alberta’s initiatives in support of reinsurance and captive insurance in the province, discussed in our post of April 20, 2022, will soon be fully in force. Already in force, as of May 31, 2022, are...more

Hogan Lovells

Italy: IVASS public consultation on the new online comparison system for motor liability insurance

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IVASS has launched a public consultation on a draft regulation laying down provisions on the setting up of an online comparison system for premiums related to the so-called basic contract offered by insurance undertakings...more

Hogan Lovells

IVASS specifies the requirements for appointed experts to carry out mystery shopping activities

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IVASS has launched a public consultation on a draft regulation laying down provisions on the use of external experts for the purposes of mystery shopping activities, i.e. the activity carried out incognito by or on assignment...more

Hogan Lovells

Italy: IVASS reviews the regulatory framework on unit and index linked products

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On 11 March 2022, IVASS launched a public consultation on a draft regulation which would introduce new provisions governing unit-linked and index-linked policies issued by Italian and foreign insurance undertakings. On the...more

Stikeman Elliott LLP

OSFI Releases Final Updated Reinsurance Guidance To Take Effect in 2025

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On February 11, 2022, Canada’s federal prudential insurance regulator, the Office of the Superintendent of Financial Institutions (“OSFI”) released long-awaited final versions of its key reinsurance guidance, Guideline B-3:...more

Hogan Lovells

Italy: IVASS consults to introduce new annual reporting obligation for non-life insurance companies

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On 28 January 2022, IVASS launched a public consultation on a draft regulation providing rules related to the obligation to communicate to IVASS data and information on non-life premiums collected in Italy by insurance...more

Conyers

Draft Rule and Statement of Guidance: Reinsurance Arrangements

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The Cayman Islands Monetary Authority (“the Authority”) recently published a Private Sector Consultation Paper with a draft Rule and Statement of Guidance on Reinsurance Arrangements (the “draft Rule & SOG”). The draft Rule &...more

Conyers

Conyers Coverage – Cayman Islands – Issue 5

Conyers on

A very warm welcome to our fifth issue of Conyers Coverage. This issue is a roundup of recent legal and regulatory measures affecting the insurance industry. Among a number of items, Rob has prepared an update on Cayman’s...more

Conyers

BMA Consultation on Changes to the Bermuda Solvency Capital Requirement Model for Insurers

Conyers on

The Bermuda Monetary Authority (BMA) has recently issued a Consultation Paper on proposed changes to the Bermuda Solvency Capital Requirement Model and Schedules. ...more

Conyers

Insurance Bulletin - Spring 2021

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What a year it has been since our last Insurance Bulletin in March 2020. Although the full impact of Covid-19 on the re/insurance industry remains unclear, the need to retain capital to meet potential losses has contributed...more

Hogan Lovells

Financial institutions general regulatory news, April 2021

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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

Conyers

Conyers Coverage – Cayman Islands – Issue 4

Conyers on

This issue focuses on the evolution of the Cayman Islands insurance industry. We share an interview with Nate Gemmiti, Chairperson of CIRCA, and introduce you to the Head of our Cayman office, Kevin Butler who, following time...more

Kramer Levin Naftalis & Frankel LLP

NY DFS to Amend Credit-for-Reinsurance Regs to Conform to Covered Agreements

New York-domiciled insurers may soon be able to take advantage of more-relaxed provisions on balance sheet credit for reinsurance where the assuming reinsurer is in a “reciprocal” jurisdiction to the United States. ...more

Hogan Lovells

New rules on portfolio transfers of insurance and reinsurance undertakings

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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

Hogan Lovells

Changes in insurance regulation: Mainland China/Hong Kong/Singapore/Indonesia - January-June 2020

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CBIRC issued newly revised Health Insurance Measures - On 31 October 2019, the China Banking and Insurance Regulatory Commission (CBIRC) promulgated the newlyrevised Administrative Measures for Health Insurance (Health...more

Hogan Lovells

New rules on IBIPs, POG, motor car insurance and complaints’ handling: IVASS and CONSOB complete the implementation of the...

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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

Hogan Lovells

Mixed responses from European regulators as EIOPA urges insurers to hold back on dividend payments

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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

Hogan Lovells

Insurance regulatory news, April 2020

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COVID-19: PRA statement on decision by insurance companies to pause dividends - On 8 April 2020, the Prudential Regulation Authority (PRA) published a statement welcoming the prudent decision of some insurance firms to...more

Hogan Lovells

The Spanish Insurance Distribution Act

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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

Carlton Fields

Eighth Circuit Reinstates Arbitration Award Stemming From Federal Crop Insurance Policy

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The Eighth Circuit reversed a district court decision vacating an arbitration award relating to a federal crop insurance policy issued through a standard reinsurance agreement with the Federal Crop Insurance Corp. (FCIC). The...more

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