Mondaq Europe: Insurance
It was announced on 20 February 2013 that the European Parliament will not consider Omnibus II until its 21-24 October 2013 plenary session.
The introduction of the proposed new Independent Insurance Authority will significantly increase the costs to insurers and insurance intermediaries of meeting more stringent regulation.
The insurance industry is facing serious changes in market conditions and in the legal environment, especially due to the new Solvency II regulations.
The economic crisis in Europe could have unforeseen consequences for GCC entities that are party to Euro-denominated contracts.
Insurance companies are playing a larger role as purchasers in the credit portfolio transactions market than they used to.
Latest developments show that organisations from around the world continue to view Guernsey as an attractive jurisdiction for domiciling their risk management vehicles, explains Guernsey Finance's Fiona Le Poidevin.
Employer’s liability claims, particularly those concerning mesothelioma caused as a result of exposure to asbestos.
Domiciles can achieve competitive advantage by applying ICP 17 and reducing capital requirements for lowest risk captives, says Martin Le Pelley, Chairman of the Guernsey International Insurance Association.
Fiona Le Poidevin, Chief Executive of Guernsey Finance, discusses the Island’s strong standing in the captive insurance market and what it is doing for its captive companies.
Two recent decisions of the High Court have provided much needed clarification as to the scope and operation of section 62 of the Civil Liability Act 1961 and should reduce liability insurers’ risk of exposure to being joined to proceedings by claimants seeking to recover directly from the insurer on foot of an insolvent insured’s liability policy.
The Minister for Justice, Equality and Defence, Alan Shatter TD, recently announced the publication of the Courts Bill 2013.
The European Commission has announced that it will examine barriers to cross-border trade in the insurance sector.
A discussion on a recent case where the High Court had its first opportunity to consider whether "after the event" insurance policies could effectively be a substitute for security for costs.
The Injuries Board has published its Annual Review for 2012, outlining key statistics relating to personal injury claims in Ireland.
The High Court has recently handed down judgment in favour of the respondents in the case of BUPA Ireland Ltd & Anor v The Health Insurance Authority & Ors.
The Department of Jobs, Enterprise and Innovation has recently published a consultation paper on the regulation of small print consumer contracts.
The Financial Services Ombudsman, has published his office’s latest bi-annual review, covering the period from July to December 2012, which reveals record numbers of complaints being made to the Ombudsman as the effects of the financial crisis continue to be felt.
At a workshop in Brussels on 31 January 2013, Chairman of EIOPA, Gabriel Bernardino, expressed his views on the current challenges in revising the insurance regulatory framework, particularly with regard to IMD2 and Solvency II.
The EIOPA has recently launched a public consultation on Guidelines related to the preparation for Solvency II.
The Central Bank has recently updated its Fitness and Probity – Frequently Asked Questions publication to include two additional questions in section three.
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A discussion on the principles of decennial liability under Saudi law and the issue of contractors' and design consultants' exposure to decennial liability.
The 'Jackson Reforms' introduce a number of changes to the English litigation costs regime which will affect the overall cost of cases, including for insurers.
A discussion on the importance of the ORSA process.
A discussion on a recent judgment of the High Court of New Zealand, which indicates how New Zealand courts will approach indemnity disputes associated with commercial property damage caused by the Christchurch earthquakes.
A discussion on whether a third party to a contract could obtain stay of legal proceedings against it and rely on arbitration agreement in the contract.
On 24 April 2013 the DIFC Court of First Instance issued an important judgment accepting jurisdiction over a dispute between a DIFC-based reinsurer and an Abu Dhabi based insurance company.
A discussion on the impact of the key provisions of the Consumer Insurance (Disclosure and Representations) Act 2012 on the private yacht and pleasure craft insurance.
A discussion on a recent case which involved an appeal from a first instance decision on the basis of alleged procedural impropriety.
Two recent decisions of the High Court have provided much needed clarification as to the scope and operation of section 62 of the Civil Liability Act 1961 and should reduce liability insurers’ risk of exposure to being joined to proceedings by claimants seeking to recover directly from the insurer on foot of an insolvent insured’s liability policy.
The Injuries Board has published its Annual Review for 2012, outlining key statistics relating to personal injury claims in Ireland.
