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

Engage is here

We have moved our content to the new Hogan Lovells platform Engage.  Engage gives you the latest legal and regulatory news and provides insights and analysis for your business, from across our global network, when you need it. If you have subscribed to this blog, you will receive a launch email for Engage on April 20

Posted in Belgium, Croatia, European Union, France, Germany, Hungary, Italy, Luxembourg, Market developments, Poland, Regulatory and legislative updates, Russia, Spain, The Netherlands, UK

Italian first measures in favor of insurance market operators against COVID-19 emergency

As a result of the health emergency caused by the widespread outbreak of the COVID-19 virus and disease, specific measures have been adopted in Italy starting from the beginning of March 2020 in order to contain the impact thereof at various levels and sectors of the economy. In particular, the Italian Government adopted Law Decree

Posted in Belgium, Croatia, France, Germany, Hungary, Italy, Luxembourg, Market developments, Poland, Regulatory and legislative updates, Spain, The Netherlands, UK

Mixed responses from European regulators as EIOPA urges insurers to hold back on dividend payments

On 2 April 2020, the European Insurance and Occupational Pensions Authority (EIOPA) urged all (re)insurers to temporarily suspend dividend distributions and share buybacks.  The response from insurance regulators in EU countries has been mixed.  In some countries the regulator has followed a similar approach.  However, the German regulator, BaFin, has stated that it considers the

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, Sanctions, Singapore, Singapore, South Africa, Spain, The Netherlands, UK, USA, Vietnam

IAIS measures to provide operational relief to supervisors and insurers in light of COVID-19

The International Association of Insurance Supervisors (IAIS), on 27 March 2020, published a press release about the measures it is taking to address the impact of COVID-19 on the insurance sector. This includes using the framework it has developed for forward-looking risk to undertake a targeted assessment of the impact of COVID-19 on the global

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

Engage is coming

We are changing how we share our blogs, newsletters, client alerts, publications and other pieces of legal news and analysis with you.  We are bringing them all together into one place: Hogan Lovells Engage. Engage gives you the latest legal and regulatory news and provides insights and analysis for your business, from across our global

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

Tesla’s insurance plans – the possibility of a revolutionary product

Tesla CEO Elon Musk recently declared that the company intends to create an insurance product ‘much more compelling than everything else out there’. Victor Fornasier, partner at Hogan Lovells, discusses with Tom Inchley from Lexis Nexis, Tesla’s plans and what they could mean for the car insurance industry. Click here for the article. This article

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

How will pharmacogenetics influence the life insurance industry?

Pharmacogenetics is the study of how genes affect a person’s reaction to medicines. The combination of pharmacology (the science of drugs) and genomics (the study of genes and their functions) leads to the development of medications that will be effective and safe, as they will be tailored to a person’s genetic make-up. A small blood

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

Insurance M&A 2017/2018

Following up on our 2018 Insurance Horizons brochure, which comments on legal and regulatory trends and developments across the insurance industry, we have today released Insurance M&A 2017/2018, a paper that takes a closer look at M&A activity across the sector. Click here to continue reading…

Posted in Asia, European Union, France, Germany, Hungary, Italy, Latin America, Market developments, Poland, Regulatory and legislative updates, Russia, Singapore, South Africa, Spain, UK, USA

Insurance Horizons 2018

As a global insurance industry team, we aim to follow industry trends and developments as closely as possible in order to deliver well informed perspectives and thought leadership to our clients and contacts. Our Insurance Horizons 2018 brochure considers the impact of technology, interest rates, protectionism, excess capacity in the reinsurance market and cyber risk.

Posted in France, Germany, Italy, Poland, Regulatory and legislative updates, Spain, UK

The Insurance Distribution Directive….one year to go

  Member States across the EU are due to implement the Insurance Distribution Directive by 23 February 2018.     With just one year to go we have looked at what progress the supervisory authorities in France, Germany, Italy, Poland, Spain and the UK are making with their implementation plans and how firms in each country might be

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 Asia, European Union, France, Germany, Hungary, Italy, Latin America, Market developments, Poland, Regulatory and legislative updates, Russia, UK, USA

Hogan Lovells: Insurance Industry Perspectives – 2016 Review

Hogan Lovells have produced a brochure highlighting key trends in the insurance industry as well as a number of articles on industry issues.  The brochure also showcases the strength and depth of our insurance practice, and our client events and thought leadership. Click here to read the full brochure.

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 Asia, European Union, France, Germany, Hungary, Italy, Latin America, Market developments, Poland, Regulatory and legislative updates, Singapore, South Africa, Spain, The Netherlands, UK, USA

Brexit – You snooze, you lose

It is 90 days since the UK’s electorate voted to leave the EU. With so many unknowns, how can you look beyond the uncertainty and decide what to do right now? The Brexit toolkit  is a seven step practical guide to help you assess real impacts and implement a practical response. It also contains critical

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

InsurTech – Innovation in Insurance?

What is genuinely innovative about today’s insurance sector? Perhaps little – but that is beginning to change. For the past few years we have seen innovative ways of selling products – such as search engine aggregators – at the distribution end of the retail market. Yet with the majority of costs borne by insurers falling

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

Brexit: Hague Convention ensures English jurisdiction agreements and judgments will continue to have force within the EU

Following last week’s vote for Brexit, many are wondering what impact the decision will have on litigation and arbitration in the UK.  Will jurisdiction agreements in favour of the UK courts continue to be respected within the EU, and will English judgments be enforceable throughout the EU?  How are court documents to be served in

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

Impact of Brexit on the Insurance Industry

Webinar Invitation – 13 July 2016 In this webinar, we will be looking at the potential impact of Brexit (if and when it happens) on the insurance industry, including the possible implications for the rules on investments and reinsurance, and the effect on regulatory capital and the regulatory balance sheet. We will consider the corporate structures

Posted in European Union, France, Germany, Hungary, Italy, Poland, Regulatory and legislative updates, Spain, The Netherlands, UK

EU: European Commission to issue Green Paper on Retail Financial Services and Insurance

The European Commission has recently published (2 September ) a roadmap on its forthcoming green paper on retail financial service and insurance. The objective of this Green Paper is to consider the obstacles faced by providers and consumers when offering or purchasing financial services across the EU. It will investigate issues not yet addressed in legislation

Posted in Asia, European Union, France, Germany, Hungary, Italy, Latin America, Poland, Regulatory and legislative updates, Russia, Spain, The Netherlands, UK, USA

Proposal by Obama Administration Seeks to Limit U.S. Federal Income Tax Deductions for Reinsurance Premiums Paid by U.S. Cedents to Affiliated Non-U.S. Reinsurers

What is Being Proposed In an effort to reduce perceived U.S. tax advantages for certain multinational insurance and reinsurance groups with U.S. operations, the Obama administration in its 2016 Fiscal Year Budget Revenue Proposals seeks new legislation that would deny a U.S. cedent a federal income tax deduction for premiums paid to an affiliated non-U.S.

Posted in Germany, Market developments

Germany: Pay-As-You-Drive-Insurances – First German Data Protection Authority stipulates requirements

Telematics-based pay-as-you-drive insurances are new innovative and not yet practice-proven products by the insurance industry. The Commissioner for Data Protection and Freedom of Information for North Rhine-Westphalia (Landesbeauftragter für Datenschutz und Informationsfreiheit Nordrhein-Westfalen – “LDI NRW“) is the first German data protection authority which evaluated a pay-as-you-drive product and stipulated requirements for data protection and

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

Recognition for Hogan Lovells’ Insurance Team from Who’s Who Legal 2015

Who’s Who Legal has just released its Insurance & Reinsurance 2015 Analysis, “a comprehensive analysis of the market, featuring 559 leading practitioners from 280 firms across 58 jurisdictions”, that highlights Hogan Lovells’ top international insurance practice.   As the Analysis points out, “[o]nly a relatively small number of law firms can boast a global network of

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

Jurisdiction and Governing Law Rules in the European Union

To help litigants navigate those rules and avoid missing tactical opportunities at an early stage in a dispute, we have prepared a note which summarises the three key European Union Regulations and provides easy to navigate flow charts.

Posted in European Union, France, Germany, Italy, Poland, Regulatory and legislative updates, Spain, The Netherlands, UK

EU: IMD2 – Where are we now?

Progress has been made recently with the Council of the European Union agreeing its general approach on the Insurance Mediation Directive 2 (“IMD2”) on 5 November 2014. This allows negotiations to begin with the European Parliament. The European Commission originally presented a proposal for a revised insurance mediation directive in July 2012 and, following initial

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

Ebola: insurance under the microscope

Ebola continues to devastate West Africa.  Over 14,000 cases including 5,000 deaths have been reported. Whilst the threat of a global outbreak remains relatively low, this crisis and the recent discovery of avian flu in Britain have again brought to the fore the exposure the (re)insurance industry has to pandemics. Prudent (re)insurers should use this