Mad Dogs and Panameños!
The Wonder Years - Rediscovering the Magic of Split Dollar Life Insurance
On Demand Insurance is Here But Will it Stay?
The FCA has recently published its latest supervisory portfolio letter (dated 28 September 2021) and addressed to the Boards of Lloyd’s and London Market insurers (LLM insurers). The letter gives an updated overview of what...more
In December 2018, the Financial Conduct Authority (FCA) wrote to the boards of life insurance companies setting out the FCA’s view of the key risks of harm life insurance companies pose to their customers and the markets in...more
UK Solvency II review: PRA information on quantitative impact study The Prudential Regulation Authority (PRA) has published a webpage setting out information about its forthcoming quantitative impact study (QIS), which will...more
GBP transition to SONIA under Solvency II regime: PRA PS12/21 - The UK Prudential Regulation Authority (PRA) has published a policy statement, PS12/21, on deep, liquid and transparent (DLT) assessments and GBP transition to...more
Solvency 2 (Credit Risk Adjustment) Regulations 2021 The Solvency 2 (Credit Risk Adjustment) Regulations 2021 - (SI 463/2021) have been published, together with an explanatory memorandum and a de minimis impact assessment....more
Review of Solvency II effective value test parameters: PRA statement - The UK Prudential Regulation Authority (PRA) has published a statement setting out the findings from its review of the minimum deferment rate, which is...more
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
The UK Government’s proposed amendments to the Financial Services Bill are the first step towards the regulation of buy-now-pay-later products. The amendments do not yet bring about regulation but will enable HM Treasury to...more
Value measures reporting: Lloyd’s Market Association guidance - The Lloyd's Market Association has published guidance on value measures reporting and product governance requirements published in the UK Financial Conduct...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
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
Part VII FSMA insurance business transfers: Court of Appeal decision - Several important issues were raised in relation to Part VII transfers in the recent hearing before the Court of Appeal relating to the proposed...more
UK Solvency II review: HM Treasury extends response deadline - HM Treasury has extended the deadline for responding to its call for evidence relating to its review of the Solvency II prudential regulatory regime for...more
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
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
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
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
This LawFlash provides a summary of the judgment of Lord Justice Flaux and Mr. Justice Butcher as it relates to the determination of the prevalence of coronavirus (COVID-19) under a particular policy. The court was somewhat...more
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
Yesterday the FCA has published its final report on its market study into general insurance pricing practices. The proposals include significant reforms including banning the so-called loyalty penalty, to prevent consumers...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
COVID-19: IAIS extends deadline for consultation on impact of COVID-19 - On 12 August 2020, the International Association of Insurance Supervisors (IAIS) updated its current consultations webpage to announce an extension...more
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