COVID-19 BI insurance test case: FCA updates webpage The Financial Conduct Authority (FCA) has updated the webpage on its business interruption (BI) insurance test case. The FCA has published the Supreme Court order varying...more
Civil Liability Act 2018 (Financial Conduct Authority) (Whiplash) Regulations 2021 -
The Civil Liability Act 2018 (Financial Conduct Authority) (Whiplash) Regulations 2021 (SI 2021/594) have been published, together with an...more
Solvency II: PRA supervisory disclosures -
The UK Prudential Regulation Authority (PRA) has published Solvency II: Supervisory disclosures, PRA’s supervisory approach and insurance regulations applicable in the UK year-end...more
Settling RTA whiplash-related injuries without a medical report -
The Civil Liability (Specification of Authorised Persons) Regulations 2021 (SI 2021/326) have been published, together with an explanatory memorandum. The...more
3/29/2021
/ Auto Insurance ,
Bodily Injury ,
Business Interruption ,
Car Accident ,
Coronavirus/COVID-19 ,
Financial Conduct Authority (FCA) ,
IAIS ,
Infectious Diseases ,
Insurance Claims ,
Insurance Regulations ,
Medical Reports ,
Regulatory Agenda ,
UK
UK Solvency II: PRA PS2/21 on expectations for work of external auditors on matching adjustment -
The UK Prudential Regulation Authority (PRA) has published a policy statement, PS2/21, setting out its expectations for the...more
COVID-19: FCA final guidance on proving presence of COVID-19 in BI insurance claims -
Following consultation, the UK Financial Conduct Authority (FCA) has published final guidance on proving the presence of coronavirus...more
3/9/2021
/ Business Interruption ,
Coronavirus/COVID-19 ,
EIOPA ,
European Economic Area (EEA) ,
Infectious Diseases ,
Insurance Claims ,
Insurance Regulations ,
Policy Terms ,
Regulatory Agenda ,
Regulatory Reform ,
Solvency II ,
UK
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
2/22/2021
/ Business Interruption ,
Commercial Insurance Policies ,
Consumer Insurance Products ,
Coronavirus/COVID-19 ,
EIOPA ,
EU ,
Financial Conduct Authority (FCA) ,
Infectious Diseases ,
Insurance Claims ,
Insurance Regulations ,
Policy Terms ,
Regulatory Agenda ,
Solvency II ,
UK
COVID-19: FCA Dear CEO letter on BI insurance test case and outcome table - On 22 and 29 January 2021, the FCA updated its webpage on its business interruption (BI) insurance test case. The FCA has published ...more
2/1/2021
/ Business Interruption ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
Financial Conduct Authority (FCA) ,
IAIS ,
Infectious Diseases ,
Insurance Claims ,
Insurance Regulations ,
Preexisting Conditions ,
Regulatory Agenda ,
UK
COVID-19: Supreme Court judgment in FCA's BI insurance test case - On 15 January 2021, the Supreme Court handed down judgment in FCA v Arch Insurance (UK) Ltd and others [2021] UKSC 1 on the issues on appeal from the High...more
2021 priorities for supervising insurance firms: PRA Dear CEO letter
The UK Prudential Regulation Authority (PRA) has published a Dear CEO letter it has sent to insurance firms setting out its supervisory priorities for...more
COVID-19: FCA update on business interruption insurance test case -
The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption insurance test case. Among other things, the FCA has...more
COVID-19: FCA update on business interruption insurance test case -
On 11 November 2020, the UK Financial Conduct Authority (FCA) updated the webpage on its business interruption insurance test case. ...more
COVID-19: FCA update on business interruption insurance test case -
The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption insurance test case to confirm that an appeal of the case...more
Brexit: PRA and FCA Dear CEO letter on final preparations for end of transition period -
The UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have published a joint Dear CEO letter that they...more
COVID-19: FCA updates webpage on BI insurance test case -
The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption (BI) insurance test case, publishing a draft transcript of the...more
10/13/2020
/ Business Interruption ,
Commercial General Liability Policies ,
Coronavirus/COVID-19 ,
EIOPA ,
Financial Conduct Authority (FCA) ,
Infectious Diseases ,
Insurance Claims ,
Insurance Regulations ,
ORSA ,
Policy Terms ,
Solvency II ,
Travel Insurance ,
UK
COVID-19: HM Treasury letter on insurance companies' deductions of government grants from BI insurance claims -
On 25 September 2020, HM Treasury published a letter from John Glen, Economic Secretary to HM Treasury, to Huw...more
10/6/2020
/ Business Interruption ,
Coronavirus/COVID-19 ,
Dear CEO Letter ,
EIOPA ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
Infectious Diseases ,
Insurance Claims ,
Prudential Regulation Authority (PRA) ,
Solvency II ,
UK
COVID-19: FCA Dear CEO letter and consequentials hearing for BII test case -
On 18 September 2020, the UK Financial Conduct Authority (FCA) published a Dear CEO letter setting out its expectations of insurers (including...more
COVID-19: Judgment in FCA's business interruption insurance test case -
The High Court has handed down judgment in FCA v Arch Insurance (UK) Ltd and others [2020] EWHC 2448 (Comm) (15 September 2020), the test case...more
COVID-19: business interruption insurance test case judgment due on 15 September 2020 -
On 9 September 2020, the UK Financial Conduct Authority (FCA) updated its webpage on the High Court business interruption insurance...more
9/15/2020
/ Business Interruption ,
Commercial Insurance Policies ,
Consumer Insurance Products ,
Coronavirus/COVID-19 ,
Critical Infrastructure Sectors ,
Financial Conduct Authority (FCA) ,
IAIS ,
Infectious Diseases ,
Insurance Regulations ,
Investment ,
UK
COVID-19: FCA statement on non-damage BI settlements and deductions relating to government support -
The UK Financial Conduct Authority (FCA) has published a statement on non-damage business insurance (BI) settlements and...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
COVID-19: PRA statement to insurers on application of matching adjustment -
On 7 July 2020, the UK Prudential Regulation Authority (PRA) published a statement to insurers on the application of the matching adjustment (MA)...more
Recent regulatory developments of interest to insurers and their intermediaries. Includes updates relating to COVID-19, Solvency II, and more....more
Recent regulatory developments of interest to insurers and their intermediaries. Includes FCA update on the COVID-19 BI insurance test case and EIOPA discussion paper on methodological principles of insurance stress testing. ...more