This briefing explains Guernsey’s adoption of rigorous international tax and regulatory standards, which, in conjunction with its local tax law, make it an ideal location for investment funds and other investment vehicles....more
Internationally active insurance groups (IAIGs) will want to consider the implications of recent guidance from international insurance regulators on capital standards. These standards mandate the relevant amounts of capital...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
PRA supervision of annuity providers: BoE speech - The Bank of England (BoE) has published a speech (and accompanying appendix), given by Charlotte Gerken, Prudential Regulation Authority (PRA) Executive Director, Insurance...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
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
IAIS 2021-22 roadmap - The International Association of Insurance Supervisors (IAIS) has published its roadmap for 2021-22. In the roadmap, the IAIS sets out details of its anticipated projects and activities for 2021-22,...more
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
Solvency II: PRA CP1/21 on deep, liquid and transparent assessments, and GBP transition to SONIA - The UK Prudential Regulation Authority (PRA) has published a consultation paper, CP1/21, on deep, liquid and transparent (DLT)...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
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
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
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: IAIS consults on the impact for the insurance sector. The UK Prudential Regulation Authority (PRA) has published a consultation paper, CP11/20, setting out its expectations and guidance relating to auditors' work...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
COVID-19: FCA FS20/7 and final guidance on assessing value of insurance products - Following consultation, on 3 June 2020, the UK Financial Conduct Authority (FCA) published a feedback statement, FS20/7, and final guidance...more
COVID-19: PRA statement on regulatory reporting amendments - On 23 March 2020, the Prudential Regulation Authority (PRA) published a statement on COVID-19 regulatory reporting amendments for UK insurers. The PRA outlines...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 Hogan Lovells’ Corporate Insurance Newsletter for December 2019 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 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 Hogan Lovells’ Corporate Insurance Newsletter for December 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 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 Hogan Lovells’ Corporate Insurance Newsletter for July has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. ...more