Recent regulatory developments of interest to insurers and their intermediaries. Among other things, includes UK FCA updates on preparing for the end of the UK-EU transition period. ...more
With Lloyd’s syndicates due to lose their EEA passporting rights on 31 December 2020, on 25 November the English High Court sanctioned a Part VII transfer of all policies (or parts of policies) insuring EEA risks from the...more
Building guarantee policies: PRA PS21/20 on extending policyholder protection - The UK Prudential Regulation Authority (PRA) has published a policy statement, PS21/20, which contains a rule change to increase protection...more
Financial services firms have spent a small fortune in planning for a post-Brexit world. Now that the UK has left the EU and we are in an implementation period due to end on 31 December 2020, this article looks at what forms...more
In a proceeding seeking an order for disclosure of documents from Barclays Bank, the English High Court of Justice considered the scope of the agency involved in a run-off agreement between a reinsurance broker and another...more
Following the 2008 banking crisis, governments around the world found themselves having to bail out large financial institutions by injecting capital to help those institutions continue to service their debts. In Europe, the...more
In a recent opinion issued in the matter of Certain Underwriters at Lloyd's London v. Nat'l R.R. Passenger Corp., No. 14-CV-04717 FB CLP (E.D.N.Y. Feb. 19, 2016), the Eastern District of New York held that communications from...more
Lloyd’s Chief Risk Officer, Sean McGovern, spoke to the Insurance Institute of London yesterday about the impact of a possible Brexit on insurers, reinsurers and brokers. The speech was delivered at a sensitive time, and with...more