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Tag Archives: insurer

Posted in Latin America, Market developments, Regulatory and legislative updates

Mexico: Insurance regulator provides 2017 required minimum paid-in capital for insurers and bonding companies

Introduction On June 5 2017 the National Insurance and Bonds Commission amended the Sole Provisions on Insurance and Bonds to provide the value of the investment unit (UDI) that insurers and bonding companies must consider when calculating their required minimum paid-in capital. Insurers and bonding companies must comply with the required minimum paid-in capital each

Posted in Regulatory and legislative updates, UK

UK: Can the Third Parties (Rights against Insurers) Act 2010 come into force yet?

With the Insurance Act 2015 receiving Royal Assent on 12 February 2015, we take a look at the consequential amendments to the Third Parties (Rights Against Insurers) Act 2010 (the “2010 Act”). These amendments were aimed at rectifying the failure to include certain insolvency circumstances in the original 2010 Act (which due to these defects

Posted in Asia, European Union, France, Germany, Italy, Poland, Regulatory and legislative updates, Russia, Spain, UK, USA

Third Party (Rights Against Insurers) Act 2010 – why the delay?

The Third Party (Rights against Insurers) Act 2010 was given Royal Assent in March 2010 but has yet to come into force 4 years later. What is the delay? Given the anticipation with which claimants are awaiting the provisions to come into force, we have provided a recap below on how this Act will differ