Welcome to Insurance Briefing - a fortnightly round-up of insurance legal and business developments published on Out-Law - with analysis and commentary from the insurance team at Pinsent Masons.
The NINE topics of focus this fortnight include:
Brexit implementation period: common sense versus political negotiations
ANALYSIS: A proposed implementation period following Brexit is firmly on the political radar and would be good news for insurers, but seems unlikely to be agreed in the short term despite insurers needing to consider when to implement their contingency plans.
German regulator right to ask UK insurers for details of Brexit planning, says expert
The German financial services regulator BaFin is seeking details of the contingency plans being made by UK insurance companies ahead of the UK's withdrawal from the EU. Insurance expert at Pinsent Masons, Bruno Geiringer said: "It is high time for regulators around Europe to take the lead to agree a process that would protect policyholders who will otherwise be caught in the potentially huge mess of having paid for an insurance policy but having no legal mechanism for their insurer to administer that policy and deal with them properly.
Treasury Committee calls for more proportionate application of EU insurance regulations
Regulation of the UK insurance industry should not come at the expense of effective competition and innovation, a committee of MPs has said.
Online dispute resolution creates 'exciting' opportunity for change, says new report
The growth of digital access to the courts is the "most exciting" potential opportunity for changes to dispute resolution procedures in England and Wales, according to a new report.
Landmark litigation privilege case set to go to UK Court of Appeal
A mining company under investigation by the Serious Fraud Office (SFO) has been granted the right to appeal a High Court decision over its rights to litigation privilege. In May, corporate crime expert Anne-Marie Ottaway of Pinsent Masons, said the High Court decision suggested that litigation privilege would not cover documents and interview records created during internal investigations in anticipation of future criminal proceedings.
Industry given chance to shape new UK laws on driverless and electric vehicles
Car manufacturers, technology providers and insurers, among other businesses and organisations, have been given the chance to help shape new UK legislation on driverless and electric vehicles.
Driverless cars could cut motor insurance premiums, says transport minister
The emergence of driverless cars onto UK roads could cut the cost of motor insurance premiums, a government minister has said. John Hayes, transport minister in England, highlighted the potential savings for owners of driverless cars in a parliamentary session in which proposed new legislation to encourage growth in the development and commercialisation of driverless cars was discussed by MPs. The Automated and Electric Vehicles Bill was introduced before the UK parliament last week.
UK watchdog could share details of data breaches with insurers to help them price cyber risk
Details of data breaches reported to the UK's Information Commissioner's Office (ICO) could be shared with insurers to help them "accurately price cyber risk", the UK's digital minister has said.
Insurers welcome calls to delay introduction of Insurance Distribution Directive
Trade bodies for UK and EU insurers have welcomed calls by a European parliamentary committee to delay the introduction of the Insurance Distribution Directive (IDD) until October 2018, almost eight months later than planned. Michaela Koller, director general of trade body Insurance Europe, welcomed ECON's intervention. "Insurers need to be given sufficient time to implement the IDD and they can only do so with legal certainty once the final rules are known," she said.
Insurance briefing is a round-up of legal and business developments published on Out-Law.com.
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