Editors: David W. Alberts, Lawrence R. Hamilton, Colin Scagell and Nicole Zayac
Welcome to the latest issue of Mayer Brown's quarterly "Global Insurance & Regulatory Bulletin."
Our new design lets you access the articles you want to read quickly and easily. To start reading, simply click on one of the article titles below or on the left. You can also download and print a full PDF version of the bulletin via the link on the right.
UK/EUROPE
UK
The Insurance Act Receives Royal Assent
On February 12, 2015, the Insurance Bill, which was introduced into Parliament on July 17, 2014, received Royal Assent, and is now known as the Insurance Act 2015 ("the Act"). The Act represents the... Read more
PRA Sets Out How the UK Will Implement Solvency II
On February 12, 2015, the Prudential Regulation Authority ("PRA") sent a letter, a copy of which is available here, to life and general insurance firms setting out the information relating to... Read more
Europe
Budget Cuts Could Impact EIOPA and the Delivery of Solvency II
In February 2015, Carlos Montalvo, the head of the European body charged with developing Solvency II, warned that recent budget cuts would have an impact on how Solvency II would be... Read more
Solvency II - EIOPA Publishes Final Reports on Equivalence of Bermuda, Japan and Switzerland
By way of background, Solvency II provides a mechanism for the European Commission to treat as equivalent a third country's solvency and prudential regulatory regime to reflect the fact that... Read more
US/AMERICAS
US
AG 48 and the (Modest) Transformation of Life Reserve Financings
After three full years of regulators compiling data, reading legal documents, studying actuarial models and consulting with outside advisors related to the life insurance industry's use of captive... Read more
Insurance Regulators Work to Address Cyber Security Issues
As data breaches and their consequences have become increasingly common and gained public attention, cyber security has become a significant issue for both the insurance industry... Read more
The NAIC Exposes Two Cyber Security-Related Documents for Comment
On March 12, 2015, the NAIC exposed for comment two draft documents relating to cyber security. The first draft document (available here), "Principles for Effective Cybersecurity Insurance... Read more
TNC insurance coverage issues have attracted significant interest from legislators and regulators around the country in light of the increasing popularity of TNCs (also called "commercial... Click here to continue reading
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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.
