Header graphic for print
Global Insurance Blog International Insurance and Reinsurance News, Trends, and Cases

Tag Archives: regulation

Posted in Regulatory and legislative updates, UK

UK: FCA General Insurance and Protection Sector Views 2017

The FCA has outlined the current trends, risks and its overall assessment of the General Insurance sector in its 2017 Sector Views, published last week.  Some of the key points are highlighted below: Technological Advances as Drivers of Change The General Insurance sector has been affected by technological advances which have given firms access to

Posted in European Union, Regulatory and legislative updates, UK

The Treasury Committee inquiry into EU insurance regulation – what have we learned so far?

http://www.hlinsurancelaw.com/ To supplement its work on the relationship that the UK might seek to have with the EU following Brexit, the Treasury Committee of the House of Commons established in September 2016 an inquiry into EU insurance regulation. The inquiry has four main objectives: to consider the options for the UK insurance industry that are

Posted in European Union, Market developments, Regulatory and legislative updates, UK

Report: Insurance and structured finance – a new dawn?

A growing trend is emerging within the insurance sector, where insurers and other users of insurance products are looking to structured finance solutions both from an investment and risk management perspective. What are the driving forces behind this development? Is regulation enhancing or impeding the trend? What role do insurers and other participants play in

Posted in European Union, Germany, Regulatory and legislative updates, UK, USA

EU/U.S. Covered Agreement: What’s Next?

On January 13, 2017, representatives of the European Union and the United States of America issued a joint statement announcing that they had successfully concluded negotiation of an agreement (the “Agreement” or “Covered Agreement”) that both parties contend “will ensure ongoing robust insurance consumer protection and provide enhanced regulatory certainty for insurers and reinsurers operating

Posted in Market developments, Regulatory and legislative updates, USA

US: How distributed ledger technology might grow in the insurance industry

      On Jan. 5, 2017, the Department of Treasury Federal Insurance Office held its first committee meeting of the new year.  Several topics were addressed, including the use of blockchain/distributed ledger technology (“DLT”) in the insurance industry.  Matt Higginson of McKinsey & Company presented this topic to the committee.  While DLT’s impact on

Posted in Asia, China and Hong Kong, European Union, France, Germany, Hungary, Indonesia, Italy, Japan, Latin America, Market developments, Poland, Regulatory and legislative updates, Russia, Singapore, Singapore, South Africa, Spain, The Netherlands, UK, USA, Vietnam

Hogan Lovells sponsoring InsurTech Rising 2016

Running from 14 to 16 November, the InsurTech Rising conference and Blockchain Summit will bring together key startups and incumbents shaping the InsurTech sector. Hogan Lovells is the conference’s Gold Sponsor and will be presenting on blockchain, the internet of things and insurance regulation, as well as moderating a panel discussion, introducing demos from a

Posted in Regulatory and legislative updates, UK

UK: Parliament opens an inquiry into the Government’s work on driverless cars

The Government consultation on changes to liability and insurance cover to accommodate automated car technologies closed recently. Barely a week later, the House of Lords has launched its own inquiry into driverless vehicles. The Science and Technology Committee of the House of Lords proposes to examine what the Government is doing to support the development

Posted in Market developments, Regulatory and legislative updates, UK

UK: Driverless cars: Government consultation on proposed changes to motor insurance

The Department for Transport’s Centre for Connected and Autonomous Vehicles (CCAV) has begun a consultation on its proposed changes to the law surrounding liability for accidents and insurance cover to accommodate automated car technologies. Increased use of automated car technologies will shift the nature of insurance claims. The increased safety of driverless cars should greatly

Posted in Asia, Regulatory and legislative updates, Singapore

Singapore: Strengthening of the Monetary Authority of Singapore’s anti-money laundering (AML) and counter-terrorism financing (CTF) powers

Background On 11 May 2015, the Monetary Authority of Singapore (Amendment) Bill (the Bill) passed its second reading in Parliament. The Bill will empower the Monetary Authority of Singapore (the MAS) to combat money laundering and terrorism financing more efficiently through a combination of centralised due diligence requirements, enhanced ongoing supervision and inspection powers, and

Posted in Asia, European Union, France, Germany, Italy, Latin America, Market developments, Poland, Russia, Spain, The Netherlands, UK, USA

Evolution: Shaping Regulation, Unlocking Growth

Last year, Hogan Lovells and FT Remark interviewed 240 senior decision-makers from public companies across the globe, as part of a research project titled ‘Evolution: Reigniting the Global Economy’. That research highlighted the impact that legislators and policy makers have on businesses in every sector, in every one of the world’s markets — and the

Posted in Market developments, UK

Scottish referendum: Is your business prepared?

On 18 September 2014, Scotland is holding a referendum on independence from the UK. Voters will be asked “Should Scotland be an independent country?” How much do you know about the referendum and should your business be taking steps to deal with the outcome now? There are a myriad of issues should the referendum result